{"identifier":"/us/usc/t12/s5394","title":12,"num":"\u00a7\u202f5394.","heading":"Prohibition on taxpayer funding","text":"\u00a7\u202f5394.\nProhibition on taxpayer funding\n(a)\nLiquidation required\nAll 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.\n(b)\nRecovery of funds\nAll 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.\n(c)\nNo losses to taxpayers\nTaxpayers shall bear no losses from the exercise of any authority under this subchapter.","url":"https://projectusc.org/usc/t12/s5394.html","content":[{"t":"sec","id":"/us/usc/t12/s5394","children":[{"t":"num","text":"\u00a7\u202f5394."},{"t":"heading","text":"Prohibition on taxpayer funding"},{"t":"subsec","id":"/us/usc/t12/s5394/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"Liquidation required"},{"t":"content","children":[{"t":"p","text":"All 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.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t12/s5394/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Recovery of funds"},{"t":"content","children":[{"t":"p","text":"All 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.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t12/s5394/c","children":[{"t":"num","text":"(c)"},{"t":"heading","text":"No losses to taxpayers"},{"t":"content","children":[{"t":"p","text":"Taxpayers shall bear no losses from the exercise of any authority under this subchapter.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}