Browse Arkansas Code titles and sections
12 U.S.C. § 5384 — Definitions
Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** In this subchapter, the following definitions shall apply:
(1) **Administrative expenses of the receiver** — The term “administrative expenses of the receiver” includes—
(A) the actual, necessary costs and expenses incurred by the Corporation as receiver for a covered financial company in liquidating a covered financial company; and
(B) any obligations that the Corporation as receiver for a covered financial company determines are necessary and appropriate to facilitate the smooth and orderly liquidation of the covered financial company.
(2) **Bankruptcy Code** — The term “Bankruptcy Code” means title 11.
(3) **Bridge financial company** — The term “bridge financial company” means a new financial company organized by the Corporation in accordance with [section 5390(h) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5390/h&num=0&edition=prelim) for the purpose of resolving a covered financial company.
(4) **Claim** — The term “claim” means any right to payment, whether or not such right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured.
(5) **Company** — The term “company” has the same meaning as in [section 1841(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1841/b&num=0&edition=prelim), except that such term includes any company described in paragraph (11), the majority of the securities of which are owned by the United States or any State.
(6) **Court** — The term “Court” means the United States District Court for the District of Columbia, unless the context otherwise requires.
(7) **Covered broker or dealer** — The term “covered broker or dealer” m
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5384
Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.
Original supplied file — preserved unchanged
Download original Markdown file
File SHA-256: 4a7c10bf9046ece10c49e51668cdc8c035bd6ea6a7dcad24a4f6b71507fc48c4. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.
Authority boundary: historical or unconfirmed source not current law verified.
Open the recorded source website ↗
Record provenance
Stable record: federal_law:legal_authorities:record_usc_aea7f9c7a4f1ddc7aca2ea0a
Source file: Laws/federal/codes/united-states-code/title-12/section-5384-definitions--d46fafa341.md
Pages: Not recorded – Not recorded
Passage SHA-256: 5ea1c2601dcdd1c829354b33a334d6cf2517d90a55b31eb5146b768ff5e7d42d
Source location: Title 12, Chapter 53, § 5384; chapter-053-wall-street-reform-and-consumer-protection.md
Stored source content
**(a) In general** In this subchapter, the following definitions shall apply:
(1) **Administrative expenses of the receiver** — The term “administrative expenses of the receiver” includes—
(A) the actual, necessary costs and expenses incurred by the Corporation as receiver for a covered financial company in liquidating a covered financial company; and
(B) any obligations that the Corporation as receiver for a covered financial company determines are necessary and appropriate to facilitate the smooth and orderly liquidation of the covered financial company.
(2) **Bankruptcy Code** — The term “Bankruptcy Code” means title 11.
(3) **Bridge financial company** — The term “bridge financial company” means a new financial company organized by the Corporation in accordance with [section 5390(h) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5390/h&num=0&edition=prelim) for the purpose of resolving a covered financial company.
(4) **Claim** — The term “claim” means any right to payment, whether or not such right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured.
(5) **Company** — The term “company” has the same meaning as in [section 1841(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1841/b&num=0&edition=prelim), except that such term includes any company described in paragraph (11), the majority of the securities of which are owned by the United States or any State.
(6) **Court** — The term “Court” means the United States District Court for the District of Columbia, unless the context otherwise requires.
(7) **Covered broker or dealer** — The term “covered broker or dealer” means a covered financial company that is a broker or dealer that—
(A) is registered with the Commission under section 78o(b) of title 15; and
(B) is a member of SIPC.
(8) **Covered financial company** — The term “covered financial company”—
(A) means a financial company for which a determination has been made under [section 5383(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5383/b&num=0&edition=prelim); and
(B) does not include an insured depository institution.
(9) **Covered subsidiary** — The term “covered subsidiary” means a subsidiary of a covered financial company, other than—
(A) an insured depository institution;
(B) an insurance company; or
(C) a covered broker or dealer.
(10) **Definitions relating to covered brokers and dealers** — The terms “customer”, “customer name securities”, “customer property”, and “net equity” in the context of a covered broker or dealer, have the same meanings as in section 78lll of title 15.
(11) **Financial company** — The term “financial company” means any company that—
(A) is incorporated or organized under any provision of Federal law or the laws of any State;
(B) is—
(i) a bank holding company, as defined in [section 1841(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1841/a&num=0&edition=prelim);
(ii) a nonbank financial company supervised by the Board of Governors;
(iii) any company that is predominantly engaged in activities that the Board of Governors has determined are financial in nature or incidental thereto for purposes of [section 1843(k) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1843/k&num=0&edition=prelim) other than a company described in clause (i) or (ii); or
(iv) any subsidiary of any company described in any of clauses (i) through (iii) that is predominantly engaged in activities that the Board of Governors has determined are financial in nature or incidental thereto for purposes of [section 1843(k) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1843/k&num=0&edition=prelim) (other than a subsidiary that is an insured depository institution or an insurance company); and
(C) is not a Farm Credit System institution chartered under and subject to the provisions of the Farm Credit Act of 1971, as amended ([12 U.S.C. 2001](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2001&num=0&edition=prelim) et seq.), a governmental entity, or a regulated entity, as defined under [section 4502(20) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4502/20&num=0&edition=prelim).
(12) **Fund** — The term “Fund” means the Orderly Liquidation Fund established under [section 5390(n) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5390/n&num=0&edition=prelim).
(13) **Insurance company** — The term “insurance company” means any entity that is—
(A) engaged in the business of insurance;
(B) subject to regulation by a State insurance regulator; and
(C) covered by a State law that is designed to specifically deal with the rehabilitation, liquidation, or insolvency of an insurance company.
(14) **Nonbank financial company** — The term “nonbank financial company” has the same meaning as in [section 5311(a)(4)(C) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5311/a/4/C&num=0&edition=prelim).
(15) **Nonbank financial company supervised by the Board of Governors** — The term “nonbank financial company supervised by the Board of Governors” has the same meaning as in [section 5311(a)(4)(D) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5311/a/4/D&num=0&edition=prelim).
(16) **SIPC** — The term “SIPC” means the Securities Investor Protection Corporation.
**(b) Definitional criteria** For purpose of the definition of the term “financial company” under subsection (a)(11), no company shall be deemed to be predominantly engaged in activities that the Board of Governors has determined are financial in nature or incidental thereto for purposes of [section 1843(k) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1843/k&num=0&edition=prelim), if the consolidated revenues of such company from such activities constitute less than 85 percent of the total consolidated revenues of such company, as the Corporation, in consultation with the Secretary, shall establish by regulation. In determining whether a company is a financial company under this subchapter, the consolidated revenues derived from the ownership or control of a depository institution shall be included.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, Pub. L. 92–181, title VIII, § 8.38, as added Pub. L. 104–105, title I, § 117, Feb. 10, 1996, 110 Stat. 168, related to recapitalization of Corporation.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2001
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(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.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5301
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Written recommendation and determination**
(1) **Vote required**
(A) *In general* — On their own initiative, or at the request of the Secretary, the Corporation and the Board of Governors shall consider whether to make a written recommendation described in paragraph (2) with respect to whether the Secretary should appoint the Corporation as receiver for a financial company. Such recommendation shall be made upon a vote of not fewer than ⅔ of the members of the Board of Governors then serving and ⅔ of the members of the board of directors of the Corporation then serving.
(B) *Cases involving brokers or dealers* — In the case of a broker or dealer, or in which the largest United States subsidiary (as measured by total assets as of the end of the previous calendar quarter) of a financial company is a broker or dealer, the Commission and the Board of Governors, at the request of the Secretary, or on their own initiative, shall consider whether to make the written recommendation described in paragraph (2) with respect to the financial company. Subject to the requirements in paragraph (2), such recommendation shall be made upon a vote of not fewer than ⅔ of the members of the Board of Governors then serving and ⅔ of the members of the Commission then serving, and in consultation with the Corporation.
(C) *Cases involving insurance companies* — In the case of an insurance company, or in which the largest United States subsidiary (as measured by total assets as of the end of the previous calendar quarter) of a financial company is an insurance company, the Director of the Federal Insurance Office and the Board of Governors, at the request of the Secretary or on their own initiative, shall consider whether to make the written recommendation described in paragraph
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5386
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
Page 1282
TITLE 12—BANKS AND BANKING
§ 2001
Sec.
PART E—FARM CREDIT SYSTEM INSURANCE
CORPORATION
2277a.
Definitions.
2277a–1.
Establishment of Farm Credit System
Insurance Corporation.
2277a–2.
Board of Directors.
2277a–3.
Commencement of insurance.
2277a–4.
Premiums.
2277a–5.
Certification of premiums.
2277a–6.
Overpayment and underpayment of pre-
miums; remedies.
2277a–7.
General corporate powers.
2277a–8.
Conduct of corporate affairs; examina-
tion of System institutions.
2277a–9.
Insurance Fund.
2277a–10.
Powers of Corporation with respect to
troubled insured System banks.
2277a–10a.
Oversight actions by Corporation.
2277a–10b.
Authority to regulate golden parachute
and indemnification payments.
2277a–10c.
Corporation as conservator or receiver;
certain other powers.
2277a–11.
Investment of funds.
2277a–12.
Exemption from taxation.
2277a–13.
Omitted.
2277a–14.
Prohibitions.
SUBCHAPTER VI—ASSISTANCE TO FARM CREDIT
SYSTEM
2278a to 2278b–11. Repealed.
SUBCHAPTER VII—RESTRUCTURING OF SYSTEM
INSTITUTIONS
PART A—MERGER OF BANKS WITHIN A DISTRICT
2279a.
Power to merge.
2279a–1.
Board of directors.
2279a–2.
Powers of merged banks.
2279a–3.
Capitalization.
2279a–4, 2279a–5. Repealed or Transferred.
PART B—MERGERS, TRANSFERS OF ASSETS, AND
POWERS OF ASSOCIATIONS WITHIN A DISTRICT
SUBPART 1—TRANSFERS BY FEDERAL LAND BANKS TO
FEDERAL LAND BANK ASSOCIATIONS
2279b.
Transfer of lending authority.
2279c.
Equalization of loan-making powers of
certain district associations.
SUBPART 2—MERGER OF LIKE AND UNLIKE ASSOCIATIONS
2279c–1.
Merger of associations.
SUBPART 3—RECONSIDERATION
2279c–2.
Reconsideration.
SUBPART 4—TERMINATION AND DISSOLUTION OF
INSTITUTIONS
2279d.
Termination of System institution sta-
tus.
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 2001
Stored review status: historical_2024_not_currentness_verified. The source passage cites 12 U.S.C. § 2001. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 1877
TITLE 12—BANKS AND BANKING
§ 5384
(D) the likely disruptive effect of the de-
termination and such action on the reason-
able
expectations
of
creditors,
counterparties, and shareholders, taking
into account the impact any action under
this subchapter would have on financial sta-
bility in the United States, including wheth-
er the rights of such parties will be dis-
rupted.
(d) Corporation policies and procedures
As soon as is practicable after July 21, 2010,
the Corporation shall establish policies and pro-
cedures that are acceptable to the Secretary
governing the use of funds available to the Cor-
poration to carry out this subchapter, including
the terms and conditions for the provision and
use
of
funds
under
sections
5384(d),
5390(h)(2)(G)(iv), and 5390(h)(9) of this title.
(e) Treatment of insurance companies and insur-
ance company subsidiaries
(1) In general
Notwithstanding subsection (b), if an insur-
ance company is a covered financial company
or a subsidiary or affiliate of a covered finan-
cial company, the liquidation or rehabilitation
of such insurance company, and any sub-
sidiary or affiliate of such company that is not
excepted under paragraph (2), shall be con-
ducted as provided under applicable State law.
(2) Exception for subsidiaries and affiliates
The requirement of paragraph (1) shall not
apply with respect to any subsidiary or affil-
iate of an insurance company that is not itself
an insurance company.
(3) Backup authority
Notwithstanding paragraph (1), with respect
to a covered financial company described in
paragraph (1), if, after the end of the 60-day pe-
riod beginning on the date on which a deter-
mination is made under section 5382(a) of this
title with respect to such company, the appro-
priate
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 5384
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.