12 CFR § 1237.13 - Payment of Securities Litigation Claims while in conservatorship.

---
identifier: "/us/cfr/t12/s1237.13"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 1237.13 - Payment of Securities Litigation Claims while in conservatorship."
title_number: 12
title_name: "Banks and Banking"
section_number: "1237.13"
section_name: "Payment of Securities Litigation Claims while in conservatorship."
chapter_name: "FEDERAL HOUSING FINANCE AGENCY"
subchapter_number: "B"
subchapter_name: "ENTITY REGULATIONS"
part_number: "1237"
part_name: "CONSERVATORSHIP AND RECEIVERSHIP"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 4513b, 4526, 4617."
regulatory_source: "76 FR 35733, June 20, 2011, unless otherwise noted."
cfr_part: "1237"
---


# 1237.13 Payment of Securities Litigation Claims while in conservatorship.

(a) *Payment of Securities Litigation Claims while in conservatorship.* The Agency, as conservator, will not pay a Securities Litigation Claim against a regulated entity, except to the extent the Director determines is in the interest of the conservatorship.

(b) *Claims against limited-life regulated entities.* A limited-life regulated entity shall not assume, acquire, or succeed to any obligation that a regulated entity for which a receiver has been appointed may have to any shareholder of the regulated entity that arises as a result of the status of that person as a shareholder of the regulated entity, including any Securities Litigation Claim. No creditor of the regulated entity shall have a claim against a limited-life regulated entity unless the receiver has transferred that liability to the limited-life regulated entity. The charter of the regulated entity, or of the limited-life regulated entity, is not an asset against which any claim can be made by any creditor or shareholder of the regulated entity.