12 U.S.C. § 200 — Payment

Page 68 TITLE 12—BANKS AND BANKING § 199 Statutory Notes and Related Subsidiaries APPLICATION TO DISTRICT OF COLUMBIA Provisions of this section were made applicable to banks, etc., in the District of Columbia by act Mar. 4, 1933, ch. 274, § 4, 47 Stat. 1567. Executive Documents EXCEPTION AS TO TRANSFER OF FUNCTIONS Functions vested by any provision of law in Comp- troller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under section 1 of this title. § 199. Approval of request Such request, if approved by the Comptroller of the Currency, shall be, together with the cer- tificate of facts in the case, and his rec- ommendation as to the amount of money which, in his judgment, should be so used and em- ployed, submitted to the Secretary of the Treas- ury, and if the same shall likewise be approved by him, the request shall be by the Comptroller of the Currency allowed, and notice thereof, with copies of the request, certificate of facts, and indorsement of approvals, shall be filed with the Treasurer of the United States. (Mar. 29, 1886, ch. 28, § 2, 24 Stat. 8.) Statutory Notes and Related Subsidiaries APPLICATION TO DISTRICT OF COLUMBIA Provisions of this section were made applicable to banks, etc., in the District of Columbia by act Mar. 4, 1933, ch. 274, § 4, 47 Stat. 1567. Executive Documents TRANSFER OF FUNCTIONS For transfer of functions to Secretary of the Treas- ury, see note set out under section 55 of this title. § 200. Payment Whenever any such request shall be allowed as hereinbefore provided, the said Comptroller of the Currency shall be, and is, empowered to draw upon and from such funds of any such trust as may be deposited with the Treasurer of the United States for the benefit of the bank in in- terest, to the amount as may be recommended and allowed and for the purpose for which such allowance was made: Provided, however, That all payments to be made for or on account of the purchase of any such property and under any such allowance shall be made by the Comp- troller of the Currency direct, with the approval of the Secretary of the Treasury, for such pur- pose only and in such manner as he may deter- mine and order. (Mar. 29, 1886, ch. 28, § 3, 24 Stat. 8.) Statutory Notes and Related Subsidiaries APPLICATION TO DISTRICT OF COLUMBIA Provisions of this section were made applicable to banks, etc., in the District of Columbia by act Mar. 4, 1933, ch. 274, § 4, 47 Stat. 1567. Executive Documents TRANSFER OF FUNCTIONS For transfer of functions to Secretary of the Treas- ury, see note set out under section 55 of this title. SUBCHAPTER XIV—BANK CONSERVATION ACT § 201. Short title This subchapter may be cited as the ‘‘Bank Conservation Act.’’ (Mar. 9, 1933, ch. 1, title II, § 201, 48 Stat. 2.) § 202. Definitions As used in this subchapter, the term ‘‘bank’’ means any national banking association or any other financial institution chartered or licensed under Federal law and subject to the supervision of the Comptroller of the Currency; the term ‘‘voluntary dissolution and liquidation’’ means a transaction pursuant to section 181 of this title that involves the assumption of the bank’s in- sured deposit liabilities and the sale of the bank, or of control of the bank, as a going concern; and the term ‘‘State’’ means any State, Terri- tory, or possession of the United States, and the Canal Zone. (Mar. 9, 1933, ch. 1, title II, § 202, 48 Stat. 2; Pub. L. 101–73, title VIII, § 801, Aug. 9, 1989, 103 Stat. 441; Pub. L. 109–351, title VII, § 725(b), Oct. 13, 2006, 120 Stat. 2001; Pub. L. 109–356, title I, § 123(b), Oct. 16, 2006, 120 Stat. 2028.) Editorial Notes REFERENCES IN TEXT For definition of Canal Zone, referred to in text, see section 3602(b) of Title 22, Foreign Relations and Inter- course. AMENDMENTS 2006—Pub. L. 109–351 and 109–356 amended section identically, substituting ‘‘means any national’’ for ‘‘means (1) any national’’ and striking out ‘‘, and (2) any bank or trust company located in the District of Columbia and operating under the supervision of the Comptroller of the Currency’’ before first semicolon. 1989—Pub. L. 101–73, § 801(1), in cl. (1), extended term ‘‘bank’’ to include any financial institution chartered or licensed under Federal law and subject to super- vision of Comptroller of the Currency. Pub. L. 101–73, § 801(2), in cl. (2), inserted definition of term ‘‘voluntary dissolution and liquidation’’. § 203. Appointment of conservator (a) Appointment The Comptroller of the Currency may, without prior notice or hearings, appoint a conservator (which may be the Federal Deposit Insurance Corporation) to the possession and control of a bank whenever the Comptroller of the Currency determines that 1 or more of the grounds speci- fied in section 11(c)(5) of the Federal Deposit In- surance Act [12 U.S.C. 1821(c)(5)] exist. (b) Judicial review (1) In general Not later than 20 days after the initial ap- pointment of a conservator pursuant to this section, the bank may bring an action in the United States district court for the judicial district in which the home office of such bank is located, or in the United States District Court for the District of Columbia, for an order requiring the Comptroller to terminate