2015 US Code
Title 12 - Banks and Banking (Sections 1 - 5710)
Chapter 53 - Wall Street Reform and Consumer Protection (Sections 5301 - 5641)
Subchapter II - Orderly Liquidation Authority (Sections 5381 - 5394)
Sec. 5394 - Prohibition on taxpayer funding
| Publication Title | United States Code, 2012 Edition, Supplement 3, Title 12 - BANKS AND BANKING |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 12 - BANKS AND BANKING CHAPTER 53 - WALL STREET REFORM AND CONSUMER PROTECTION SUBCHAPTER II - ORDERLY LIQUIDATION AUTHORITY Sec. 5394 - Prohibition on taxpayer funding |
| Contains | section 5394 |
| Date | 2015 |
| Laws In Effect As Of Date | January 3, 2016 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 111-203, title II, §214, July 21, 2010, 124 Stat. 1518. |
| Statutes at Large References | 124 Stat. 1518, 1442 |
| Public and Private Laws | Public Law 111-203 |
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All financial companies put into receivership under this subchapter shall be liquidated. No taxpayer funds shall be used to prevent the liquidation of any financial company under this subchapter.
(b) Recovery of fundsAll funds expended in the liquidation of a financial company under this subchapter shall be recovered from the disposition of assets of such financial company, or shall be the responsibility of the financial sector, through assessments.
(c) No losses to taxpayersTaxpayers shall bear no losses from the exercise of any authority under this subchapter.
(Pub. L. 111–203, title II, §214, July 21, 2010, 124 Stat. 1518.)
REFERENCES IN TEXTThis subchapter, referred to in text, was in the original "this title", meaning title II of Pub. L. 111–203, July 21, 2010, 124 Stat. 1442, which is classified principally to this subchapter. For complete classification of title II to the Code, see Tables.
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