Source: https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2277a-10&num=0&edition=prelim
Timestamp: 2020-02-23 08:22:25
Document Index: 632567254

Matched Legal Cases: ['§ 2277', '§5', '§302', '§6', '§1836', '§217', '§217']

[USC02] 12 USC 2277a-10: Powers of Corporation with respect to troubled insured System banks
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12 USC 2277a-10: Powers of Corporation with respect to troubled insured System banks Text contains those laws in effect on February 22, 2020
The Corporation, in its sole discretion and on such terms and conditions as the Board of Directors may prescribe, may make loans to, purchase the assets or securities of, assume the liabilities of, or make contributions to, any insured System bank if such action is taken-
To facilitate a merger or consolidation of a qualifying insured System bank, the sale of assets of such insured System bank to another insured System bank, the assumption of such insured System bank's liabilities by such other insured System bank, or the acquisition of the stock of such insured System bank by such other insured System bank, the Corporation, in its sole discretion and on such terms and conditions as the Board of Directors may prescribe, may-
For purposes of subparagraph (A), the term "qualifying insured System bank" means any insured System bank that-
In determining the least costly alternative under subparagraph (A), the Corporation shall-
For purposes of this subsection, the determination of the costs of liquidation of any insured System bank shall be made as of the earliest of-
Any agreement that shall diminish or defeat the right, title, or interest of the Corporation in any asset acquired by such Corporation under this section, either as security for a loan or by purchase, shall not be valid against the Corporation unless the agreement-
(Pub. L. 92–181, title V, §5.61, as added Pub. L. 100–233, title III, §302, Jan. 6, 1988, 101 Stat. 1616 ; amended Pub. L. 101–220, §6(b)(4), Dec. 12, 1989, 103 Stat. 1880 ; Pub. L. 101–624, title XVIII, §1836(b), Nov. 28, 1990, 104 Stat. 3833 ; Pub. L. 104–105, title II, §217, Feb. 10, 1996, 110 Stat. 179 .)
1996-Subsec. (a)(1). Pub. L. 104–105, §217(b)(1), substituted "Stand-alone assistance" for "In general" in par. heading.
1990-Subsec. (f). Pub. L. 101–624 substituted "prior to January 1, 1993" for "beginning on the date of the enactment of this part".
1989-Subsec. (e). Pub. L. 101–220 inserted "and other association making direct loans under the authority provided under section 2279b of this title," after "production credit association".