§ 5381 Definitions
§ 5382 Judicial review
§ 5383 Systemic risk determination
§ 5384 Orderly liquidation of covered financial companies
§ 5385 Orderly liquidation of covered brokers and dealers
§ 5386 Mandatory terms and conditions for all orderly liquidation actions
§ 5387 Directors not liable for acquiescing in appointment of receiver
§ 5388 Dismissal and exclusion of other actions
§ 5389 Rulemaking; non-conflicting law
§ 5390 Powers and duties of the Corporation
§ 5391 Inspector General reviews
§ 5392 Prohibition of circumvention and prevention of conflicts of interest
§ 5393 Ban on certain activities by senior executives and directors
§ 5394 Prohibition on taxpayer funding

Terms Used In U.S. Code > Title 12 > Chapter 53 > Subchapter II

  • appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • association: when used in reference to a corporation, shall be deemed to embrace the words "successors and assigns of such company or association" in like manner as if these last-named words, or words of similar import, were expressed. See 1 USC 5
  • attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
  • contract: A legal written agreement that becomes binding when signed.
  • 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.
  • county: includes a parish, or any other equivalent subdivision of a State or Territory of the United States. See 1 USC 2
  • damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • docket: A log containing brief entries of court proceedings.
  • entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • federal deposit insurance corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • fiduciary: A trustee, executor, or administrator.
  • foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • fraud: Intentional deception resulting in injury to another.
  • garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See 1 USC 8
  • injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • lien: A claim against real or personal property in satisfaction of a debt.
  • litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • majority leader: see Floor Leaders
  • minority leader: See Floor Leaders
  • mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • officer: includes any person authorized by law to perform the duties of the office. See 1 USC 1
  • partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • personal property: All property that is not real property.
  • probate: Proving a will
  • public debt: Cumulative amounts borrowed by the Treasury Department or the Federal Financing Bank from the public or from another fund or account. The public debt does not include agency debt (amounts borrowed by other agencies of the Federal Government). The total public debt is subject to a statutory limit.
  • real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • statute: A law passed by a legislature.
  • statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • subpoena: A command to a witness to appear and give testimony.
  • testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • trustee: A person or institution holding and administering property in trust.
  • writ: A formal written command, issued from the court, requiring the performance of a specific act.
  • writ of certiorari: An order issued by the Supreme Court directing the lower court to transmit records for a case for which it will hear on appeal.
  • writing: includes printing and typewriting and reproductions of visual symbols by photographing, multigraphing, mimeographing, manifolding, or otherwise. See 1 USC 1