12 U.S.C. § 5394: Prohibition on taxpayer funding
Where this section sits in the code
- Title 12—BANKS AND BANKING
- CHAPTER 53—WALL STREET REFORM AND CONSUMER PROTECTION
(a) Liquidation requiredAll 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.
Collected 2026-09-10T05:56:24Z. Source file · JSON