{"data":{"id":"us/12-u.s.c.-624","jurisdiction":"us","citation":"12 U.S.C. § 624","heading":"Appointment of receiver or conservator","body":"(A) In general.—The Board may appoint a conservator or receiver for a corporation organized under the provisions of this subchapter to the same extent and in the same manner as the Comptroller of the Currency may appoint a conservator or receiver for a national bank, and the conservator or receiver for such corporation shall exercise the same powers, functions, and duties, subject to the same limitations, as a conservator or receiver for a national bank. (B) Equivalent authority.—The Board shall have the same authority with respect to any conservator or receiver appointed for a corporation organized under the provisions of this subchapter under this section and any such corporation as the Comptroller of the Currency has with respect to a conservator or receiver of a national bank and the national bank for which a conservator or receiver has been appointed. (C) Title 11 petitions.—The Board may direct the conservator or receiver of a corporation organized under the provisions of this subchapter to file a petition pursuant to title 11, in which case, title 11 shall apply to the corporation in lieu of otherwise applicable Federal or State insolvency law.","path":["Title 12—BANKS AND BANKING","CHAPTER 6—FOREIGN BANKING"],"source_url":"https://uscode.house.gov/download/releasepoints/us/pl/119/103/xml_usc12@119-103.zip","current_through":"Public Law 119-103 (09/02/2026)","vintage":"","retrieved_at":"2026-09-10T05:56:24Z","sha256":"033308bbcf18af850454fcc5c25d3e78c5277b29c154b7b7da8ff3ab30857b61","source_id":"us","stale":true,"prev":"us/12-u.s.c.-623","next":"us/12-u.s.c.-625"},"notice":"GroundRules: Original legal text. Not legal advice."}