Source: http://annearundelmarylandlaws.com/2015/03/page/2/
Timestamp: 2018-01-19 21:21:51
Document Index: 26711046

Matched Legal Cases: ['§ 131', '§ 131', '§ 5611', '§ 6805', '§ 701', '§ 5512', '§ 5461', '§ 5461']

March 2015 – Page 2 – Annearundel Maryland Reckless Driving Divorce DUI Traffic Child Custody Laws|Lawyer County
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(a) Each supervisor shall perform the duties imposed upon him by the Secretary in the enforcement of chapter 5 of this title [13 USCS §§ 131 et seq.] in accordance with the Secretary’s orders and instructions.
(b) Each enumerator or other employee detailed to serve as enumerator shall be charged with the collection in his subdivision of the facts and statistics called for on such schedules as the Secretary determines shall be used by him in connection with any census or survey provided for by chapter 5 of this title [13 USCS §§ 131 et seq.].
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A direct loan (including a microloan, as defined by the Secretary) may be made under this subchapter only for
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(a) In general. Upon the written determination of the Corporation and the Board of Governors under section 1104 [12 USCS § 5611], the Corporation shall create a widely available program to guarantee obligations of solvent insured depository institutions or solvent depository institution holding companies (including any affiliates thereof) during times of severe economic distress, except that a guarantee of obligations under this section may not include the provision of equity in any form.
(b) Rulemaking and terms and conditions.
(1) Policies and procedures. As soon as is practicable after the date of enactment of this Act [enacted July 21, 2010], the Corporation shall establish, by regulation, and in consultation with the Secretary, policies and procedures governing the issuance of guarantees authorized by this section. Such policies and procedures may include a requirement of collateral as a condition of any such guarantee.
(2) Terms and conditions. The terms and conditions of any guarantee program shall be established by the Corporation, with the concurrence of the Secretary.
(c) Determination of guaranteed amount.
(1) In general. In connection with any program established pursuant to subsection (a) and subject to paragraph (2) of this subsection, the Secretary (in consultation with the President) shall determine the maximum amount of debt outstanding that the Corporation may guarantee under this section, and the President may transmit to Congress a written report on the plan of the Corporation to exercise the authority under this section to issue guarantees up to that maximum amount and a request for approval of such plan. The Corporation shall exercise the authority under this section to issue guarantees up to that specified maximum amount upon passage of the joint resolution of approval, as provided in subsection (d). Absent such approval, the Corporation shall issue no such guarantees.
(2) Additional debt guarantee authority. If the Secretary (in consultation with the President) determines, after a submission to Congress under paragraph (1), that the maximum guarantee amount should be raised, and the Council concurs with that determination, the President may transmit to Congress a written report on the plan of the Corporation to exercise the authority under this section to issue guarantees up to the increased maximum debt guarantee amount. The Corporation shall exercise the authority under this section to issue guarantees up to that specified maximum amount upon passage of the joint resolution of approval, as provided in subsection (d). Absent such approval, the Corporation shall issue no such guarantees.
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(d) Special rules for enforcement of orders.
(1) In general. The Bureau may in its discretion apply to the United States district court within the jurisdiction of which the principal office or place of business of the person is located, for the enforcement of any effective and outstanding notice or order issued under this section, and such court shall have jurisdiction and power to order and require compliance herewith.
(2) Exception. Except as otherwise provided in this subsection, no court shall have jurisdiction to affect by injunction or otherwise the issuance or enforcement of any notice or order or to review, modify, suspend, terminate, or set aside any such notice or order.
(e) Rules. The Bureau shall prescribe rules establishing such procedures as may be necessary to carry out this section.
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Exclusion for persons regulated by a State insurance regulator.
(1) In general. No provision of this title shall be construed as altering, amending, or affecting the authority of any State insurance regulator to adopt rules, initiate enforcement proceedings, or take any other action with respect to a person regulated by a State insurance regulator. Except as provided in paragraph (2), the Bureau shall have no authority to exercise any power to enforce this title with respect to a person regulated by a State insurance regulator.
(2) Description of activities. Paragraph (1) does not apply to any person described in such paragraph to the extent that such person is engaged in the offering or provision of any consumer financial product or service or is otherwise subject to any enumerated consumer law or any law for which authorities are transferred under subtitle F or H.
(3) State insurance authority under Gramm-Leach-Bliley. Notwithstanding paragraph (2), the Bureau shall not exercise any authorities that are granted a State insurance authority under section 505(a)(6) of the Gramm-Leach-Bliley Act [15 USCS § 6805(a)(6)] with respect to a person regulated by a State insurance authority.
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(5) Dismissal due to inaction. A petition under this section shall be deemed dismissed if the Council has not issued a decision to set aside a regulation, or provision thereof, within the period for timely action under paragraph (4)(B).
(6) Publication of decision. Any decision under this subsection to issue a stay of, or set aside, a regulation or provision thereof shall be published by the Council in the Federal Register as soon as practicable after the decision is made, with an explanation of the reasons for the decision.
(7) Rulemaking procedures inapplicable. The notice and comment procedures under section 553 of title 5, United States Code, shall not apply to any decision under this section of the Council to issue a stay of, or set aside, a regulation.
(8) Judicial review of decisions by the council. A decision by the Council to set aside a regulation prescribed by the Bureau, or provision thereof, shall be subject to review under chapter 7 of title 5, United States Code [5 USCS §§ 701 et seq.].
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(a) Annual independent audit. The Bureau shall order an annual independent audit of the operations and budget of the Bureau.
(b) Annual GAO audit. The Comptroller General of the United States shall conduct an annual audit of the Bureau’s financial statements in accordance with generally accepted government accounting standards.
(a) Study. Not later than the end of the 180-day period beginning on the date of the enactment of this Act, and annually thereafter, the Comptroller General of the United States shall conduct a study of financial services regulations, including activities of the Bureau. Such study shall include an analysis of–
(2) efforts to avoid duplicative or conflicting rulemakings, including an evaluation of the consultative process under subparagraphs (B) and (C) of section 1022(b)(2) [12 USCS § 5512(b)(2)], information requests, and examinations; and
(b) Report. Not later than the end of the 30-day period following the completion of a study conducted pursuant to subsection (a), the Comptroller General shall issue a report to the Congress containing a detailed description of all findings and conclusions made by the Comptroller General in carrying out such study, together with such recommendations for legislative or administrative action as the Comptroller General may determine to be appropriate.
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(b) Rescission of designation.
(1) In general. The Council, on a nondelegable basis and by a vote of not fewer than 2/3 of members then serving, including an affirmative vote by the Chairperson of the Council, shall rescind a designation of systemic importance for a designated financial market utility or designated activity if the Council determines that the utility or activity no longer meets the standards for systemic importance.
(2) Effect of rescission. Upon rescission, the financial market utility or financial institutions conducting the activity will no longer be subject to the provisions of this title [12 USCS §§ 5461 et seq.] or any rules or orders prescribed under this title [12 USCS §§ 5461 et seq.].
(c) Consultation and notice and opportunity for hearing.
(1) Consultation. Before making any determination under subsection (a) or (b), the Council shall consult with the relevant Supervisory Agency and the Board of Governors.
(2) Advance notice and opportunity for hearing.
(A) In general. Before making any determination under subsection (a) or (b), the Council shall provide the financial market utility or, in the case of a payment, clearing, or settlement activity, financial institutions with advance notice of the proposed determination of the Council.
(B) Notice in Federal Register. The Council shall provide such advance notice to financial institutions by publishing a notice in the Federal Register.
(C) Requests for hearing. Within 30 days from the date of any notice of the proposed determination of the Council, the financial market utility or, in the case of a payment, clearing, or settlement activity, a financial institution engaged in the designated activity may request, in writing, an opportunity for a written or oral hearing before the Council to demonstrate that the proposed designation or rescission of designation is not supported by substantial evidence.
(D) Written submissions. Upon receipt of a timely request, the Council shall fix a time, not more than 30 days after receipt of the request, unless extended at the request of the financial market utility or financial institution, and place at which the financial market utility or financial institution may appear, personally or through counsel, to submit written materials, or, at the sole discretion of the Council, oral testimony or oral argument.
(3) Emergency exception.
(A) Waiver or modification by vote of the council. The Council may waive or modify the requirements of paragraph (2) if the Council determines, by an affirmative vote of not fewer than 2/3 of members then serving, including an affirmative vote by the Chairperson of the Council, that the waiver or modification is necessary to prevent or mitigate an immediate threat to the financial system posed by the financial market utility or the payment, clearing, or settlement activity.
(B) Notice of waiver or modification. The Council shall provide notice of the waiver or modification to the financial market utility concerned or, in the case of a payment, clearing, or settlement activity, to financial institutions, as soon as practicable, which shall be no later than 24 hours after the waiver or modification in the case of a financial market utility and 3 business days in the case of financial institutions. The Council shall provide the notice to financial institutions by posting a notice on the website of the Council and by publishing a notice in the Federal Register.
(d) Notification of final determination.
(1) After hearing. Within 60 days of any hearing under subsection (c)(2), the Council shall notify the financial market utility or financial institutions of the final determination of the Council in writing, which shall include findings of fact upon which the determination of the Council is based.
(2) When no hearing requested. If the Council does not receive a timely request for a hearing under subsection (c)(2), the Council shall notify the financial market utility or financial institutions of the final determination of the Council in writing not later than 30 days after the expiration of the date by which a financial market utility or a financial institution could have requested a hearing. All notices to financial institutions under this subsection shall be published in the Federal Register.
(e) Extension of time periods. The Council may extend the time periods established in subsections (c) and (d) as the Council determines to be necessary or appropriate.
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Nothing in this section shall preclude the Department and the exclusive representative from negotiating–
(1) at the election of the Department, on the numbers, types, and classes of employees or positions assigned to any organizational subdivision, work project, or tour of duty, or on the technology, methods, and means of performing work;
(2) procedures which management officials of the Department will observe in exercising any function under this section; or
(3) appropriate arrangements for employees adversely affected by the exercise of any function under this section by such management officials.