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12 U.S.C. § 5218 — Rights; management; sale of troubled assets; revenues and sale proceeds

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 5218 — Rights; management; sale of troubled assets; revenues and sale proceeds

**(a) Exercise of rights** The Secretary may, at any time, exercise any rights received in connection with troubled assets purchased under this chapter. **(b) Management of troubled assets** The Secretary shall have authority to manage troubled assets purchased under this chapter, including revenues and portfolio risks therefrom. **(c) Sale of troubled assets** The Secretary may, at any time, upon terms and conditions and at a price determined by the Secretary, sell, or enter into securities loans, repurchase transactions, or other financial transactions in regard to, any troubled asset purchased under this chapter. **(d) Transfer to Treasury** Revenues of, and proceeds from the sale of troubled assets purchased under this chapter, or from the sale, exercise, or surrender of warrants or senior debt instruments acquired under [section 5223 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5223&num=0&edition=prelim) shall be paid into the general fund of the Treasury for reduction of the public debt. **(e) Application of sunset to troubled assets** The authority of the Secretary to hold any troubled asset purchased under this chapter before the termination date in [section 5230 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5230&num=0&edition=prelim), or to purchase or fund the purchase of a troubled asset under a commitment entered into before the termination date in [section 5230 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5230&num=0&edition=prelim), is not subject to the provisions of [section 5230 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5230&num=0&edition=prelim). **(f) Report** The

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Stable record: federal_law:legal_authorities:record_usc_302e3a6be69872f37fb84128
Source file: Laws/federal/codes/united-states-code/title-12/section-5218-rights-management-sale-of-troubled-assets-revenues-and-sale-proceeds--0c084e43e4.md
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Source location: Title 12, Chapter 52, § 5218; chapter-052-emergency-economic-stabilization.md

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 5301 — Regulations

**(a) In general** The Secretary is authorized to promulgate regulations to implement and administer the grant programs and undertakings authorized by this subchapter. **(b) Regulatory authority** Regulations prescribed under this section may contain such classifications, differentiations, or other provisions, and may provide for such adjustments and exceptions for any class of grant programs, undertakings, or eligible entities, as, in the judgment of the Secretary, are necessary or proper to effectuate the purposes of this subchapter, to prevent circumvention or evasion of this subchapter, or to facilitate compliance with this subchapter.

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 5223 — Executive compensation and corporate governance

**(a) Definitions** For purposes of this section, the following definitions shall apply: (1) **Senior executive officer** — The term “senior executive officer” means an individual who is 1 of the top 5 most highly paid executives of a public company, whose compensation is required to be disclosed pursuant to the Securities Exchange Act of 1934 [[15 U.S.C. 78a](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78a&num=0&edition=prelim) et seq.], and any regulations issued thereunder, and non-public company counterparts. (2) **Golden parachute payment** — The term “golden parachute payment” means any payment to a senior executive officer for departure from a company for any reason, except for payments for services performed or benefits accrued. (3) **TARP recipient** — The term “TARP recipient” means any entity that has received or will receive financial assistance under the financial assistance provided under the TARP. (4) **Commission** — The term “Commission” means the Securities and Exchange Commission. (5) **Period in which obligation is outstanding; rule of construction** — For purposes of this section, the period in which any obligation arising from financial assistance provided under the TARP remains outstanding does not include any period during which the Federal Government only holds warrants to purchase common stock of the TARP recipient. **(b) Executive compensation and corporate governance** (1) **Establishment of standards** — During the period in which any obligation arising from financial assistance provided under the TARP remains outstanding, each TARP recipient shall be subject to— (A) the standards established by the Secretary under this section; and (B) the provisions of [section 162(m)(5) of title 26](https://usc

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 5230 — Funding

For the purpose of the authorities granted in this chapter, and for the costs of administering those authorities, the Secretary may use the proceeds of the sale of any securities issued under chapter 31 of title 31, and the purposes for which securities may be issued under chapter 31 of title 31 are extended to include actions authorized by this chapter, including the payment of administrative expenses. Any funds expended or obligated by the Secretary for actions authorized by this chapter, including the payment of administrative expenses, shall be deemed appropriated at the time of such expenditure or obligation.

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 5201 — Emergency treatment

All provisions of this chapter are designated as an emergency requirement and necessary to meet emergency needs pursuant to section 204(a) of S. Con. Res 11 So in original. Probably should be followed by a period. 21 (110th Congress), the concurrent resolution on the budget for fiscal year 2008 and rescissions of any amounts provided in this chapter shall not be counted for purposes of budget enforcement.

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 5218 — Conflicts of interest

Page 1805 TITLE 12—BANKS AND BANKING § 5219 1 So in original. Probably should be ‘‘mortgage-backed’’. Section 1441a(r)(4) of this title, referred to in subsec. (b), was repealed by Pub. L. 111–203, title III, § 364(b), July 21, 2010, 124 Stat. 1555. AMENDMENTS 2009—Subsec. (b). Pub. L. 111–5 inserted ‘‘and individ- uals with disabilities and businesses owned by individ- uals with disabilities (for purposes of this subsection the term ‘individual with disability’ has the same meaning as the term ‘handicapped individual’ as that term is defined in section 632(f) of title 15),’’ after ‘‘sec- tion 1441a(r)(4) of this title),’’. Statutory Notes and Related Subsidiaries CHANGE OF NAME Committee on Oversight and Government Reform of House of Representatives changed to Committee on Oversight and Reform of House of Representatives by House Resolution No. 6, One Hundred Sixteenth Con- gress, Jan. 9, 2019. Committee on Oversight and Reform of House of Representatives changed to Committee on Oversight and Accountability of House of Representa- tives by House Resolution No. 5, One Hundred Eight- eenth Congress, Jan. 9, 2023. § 5218. Conflicts of interest (a) Standards required The Secretary shall issue regulations or guide- lines necessary to address and manage or to pro- hibit conflicts of interest that may arise in con- nection with the administration and execution of the authorities provided under this chapter, including— (1) conflicts arising in the selection or hiring of contractors or advisors, including asset managers; (2) the purchase of troubled assets; (3) the management of the troubled assets held; (4) post-employment restrictions on employ- ees; and (5) any other potential conflict of interest, as the Secretary deems necessary or appro- priate

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