§ 5911. Application of existing insolvency law

174 words·~1 min read·/usc/title-12/section-5911

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In accordance with otherwise applicable law, an insolvency proceeding with respect to a permitted payment stablecoin issuer shall occur as follows:

(1)A depository institution (as defined in section 1813 of this title) shall be resolved by the Federal Deposit Insurance Corporation, National Credit Union Administration, or State payment stablecoin regulator, as applicable.

(2)A subsidiary of a depository institution (as defined in section 1813 of this title) or a nonbank entity may be considered a debtor under title 11.

(Pub. L. 119–27, § 11(g), July 18, 2025, 139 Stat. 458.)

Delayed Effective Date of Section

For delayed effective date of section, see Effective Date note below.

Connections6 cite this · traces to 3

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public-private-law

Public Law 119-27
Guiding and Establishing National Innovation for U.S. Stablecoins Act

statute-compilations

Sec. 11
TREATMENT OF PAYMENT STABLECOIN ISSUERS IN INSOLVENCY PROCEEDINGS

Traces to 3 documents

U.S. Code

public-private-law

Guiding and Establishing National Innovation for U.S. Stablecoins Act
Public Law 119-27

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139 Stat. 458

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cites case law

§ 5911

Application of existing insolvency law

Fed. Reg.×4

Pub. L.×1

Stat. Comp.×1

U.S.C.§ 1813

Pub. L.Public Law 119-27

U.S.C.§ 5901

Stat.139 Stat. 458

Cites 4Cited by 6 across 3 sources