GroundRules
12 CFR 367.18: Abrogation of contracts.
Where this section sits in the code
- Title 12—Banks and Banking
- CHAPTER III—FEDERAL DEPOSIT INSURANCE CORPORATION
- SUBCHAPTER B—REGULATIONS AND STATEMENTS OF GENERAL POLICY
- PART 367—SUSPENSION AND EXCLUSION OF CONTRACTOR AND TERMINATION OF CONTRACTS
(a) The FDIC may, in its discretion, rescind or terminate any contract in existence at the time a contractor is suspended or excluded.
(b) Any contract not rescinded or terminated shall continue in force in accordance with the terms thereof.
(c) The right to rescind or terminate a contract in existence is cumulative and in addition to any other remedies or rights the FDIC may have under the terms of the contract, at law, or otherwise.
Collected 2026-08-27T02:24:16Z. Source file · JSON