12 USC 5387 – Directors not liable for acquiescing in appointment of receiver
Current as of: 2024 | Check for updates
|
Other versions
The members of the board of directors (or body performing similar functions) of a covered financial company shall not be liable to the shareholders or creditors thereof for acquiescing in or consenting in good faith to the appointment of the Corporation as receiver for the covered financial company under section 5383 of this title.
Terms Used In 12 USC 5387
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.