12 CFR 1237.5 - Contracts entered into before appointment of a conservator or receiver.

Regulations last checked for updates: Jun 02, 2024

Title 12 - Banks and Banking last revised: May 20, 2024

View all text of Subpart A [§ 1237.3 - § 1237.6]

§ 1237.5 - Contracts entered into before appointment of a conservator or receiver.

(a) The conservator or receiver for any regulated entity may disaffirm or repudiate any contract or lease to which such regulated entity is a party pursuant to section 1367(d) of the Safety and Soundness Act.

(b) For purposes of section 1367(d)(2) of the Safety and Soundness Act, a reasonable period shall be defined as a period of 18 months following the appointment of a conservator or receiver.

authority: 12 U.S.C. 4513b,4526,4617

source: 76 FR 35733, June 20, 2011, unless otherwise noted.

cite as: 12 CFR 1237.5