{"identifier":"/us/usc/t12/s5613","title":12,"num":"\u00a7\u202f5613.","heading":"Additional related matters","text":"\u00a7\u202f5613.\nAdditional related matters\n(a)\nSuspension of parallel Federal Deposit Insurance Act authority\nEffective upon\nJuly 21, 2010\nsection 1823(c)(4)(G)(i) of this title\nsection 5612 of this title\n(b)\nOmitted\n(c)\nEffect of default on an FDIC guarantee\nIf an insured depository institution or depository institution holding company (as those terms are defined in\n(1) appoint itself as receiver for the insured depository institution that defaults; and\n(2) with respect to any other participating company that is not an insured depository institution that defaults\u2014\n(A) require\u2014\n(i) consideration of whether a determination shall be made, as provided in\nsection 5383 of this title\nsection 5382 of this title\n(ii) the company to file a petition for bankruptcy under\nsection 301 of title 11\nsection 5382 of this title\n(B) file a petition for involuntary bankruptcy on behalf of the company under\nsection 303 of title 11","url":"https://projectusc.org/usc/t12/s5613.html","content":[{"t":"sec","id":"/us/usc/t12/s5613","children":[{"t":"num","text":"\u00a7\u202f5613."},{"t":"heading","text":"Additional related matters"},{"t":"subsec","id":"/us/usc/t12/s5613/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"Suspension of parallel Federal Deposit Insurance Act authority"},{"t":"content","children":[{"t":"p","text":"Effective upon ","children":[{"t":"text","text":"July 21, 2010","tail":", the Corporation may not exercise its authority under "},{"t":"ref","text":"section 1823(c)(4)(G)(i) of this title","href":"/us/usc/t12/s1823/c/4/G/i","tail":" to establish any widely available debt guarantee program for which "},{"t":"ref","text":"section 5612 of this title","href":"/us/usc/t12/s5612","tail":" would provide authority."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t12/s5613/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Omitted"},{"t":"content","tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t12/s5613/c","children":[{"t":"num","text":"(c)"},{"t":"heading","text":"Effect of default on an FDIC guarantee"},{"t":"chapeau","text":"If an insured depository institution or depository institution holding company (as those terms are defined in ","children":[{"t":"ref","text":"section 1813 of this title","href":"/us/usc/t12/s1813","tail":") participating in a program under "},{"t":"ref","text":"section 5612 of this title","href":"/us/usc/t12/s5612","tail":", or any participant in a debt guarantee program established pursuant to "},{"t":"ref","text":"section 1823(c)(4)(G)(i) of this title","href":"/us/usc/t12/s1823/c/4/G/i","tail":" defaults on any obligation guaranteed by the Corporation after "},{"t":"text","text":"July 21, 2010","tail":", the Corporation shall\u2014"}]},{"t":"para","id":"/us/usc/t12/s5613/c/1","children":[{"t":"num","text":"(1)"},{"t":"content","text":" appoint itself as receiver for the insured depository institution that defaults; and","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s5613/c/2","children":[{"t":"num","text":"(2)"},{"t":"chapeau","text":" with respect to any other participating company that is not an insured depository institution that defaults\u2014"},{"t":"subpara","id":"/us/usc/t12/s5613/c/2/A","children":[{"t":"num","text":"(A)"},{"t":"chapeau","text":" require\u2014"},{"t":"clause","id":"/us/usc/t12/s5613/c/2/A/i","children":[{"t":"num","text":"(i)"},{"t":"content","text":" consideration of whether a determination shall be made, as provided in ","children":[{"t":"ref","text":"section 5383 of this title","href":"/us/usc/t12/s5383","tail":" to resolve the company under "},{"t":"ref","text":"section 5382 of this title","href":"/us/usc/t12/s5382","tail":"; and"}],"tail":"\n"}],"tail":"\n"},{"t":"clause","id":"/us/usc/t12/s5613/c/2/A/ii","children":[{"t":"num","text":"(ii)"},{"t":"content","text":" the company to file a petition for bankruptcy under ","children":[{"t":"ref","text":"section 301 of title 11","href":"/us/usc/t11/s301","tail":" if the Corporation is not appointed receiver pursuant to "},{"t":"ref","text":"section 5382 of this title","href":"/us/usc/t12/s5382","tail":" within 30 days of the date of default; or"}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t12/s5613/c/2/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" file a petition for involuntary bankruptcy on behalf of the company under ","children":[{"t":"ref","text":"section 303 of title 11","href":"/us/usc/t11/s303","tail":"."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}