12 CFR § 1237.4 - Receivership following conservatorship; administrative expenses.

---
identifier: "/us/cfr/t12/s1237.4"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 1237.4 - Receivership following conservatorship; administrative expenses."
title_number: 12
title_name: "Banks and Banking"
section_number: "1237.4"
section_name: "Receivership following conservatorship; administrative expenses."
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"
---


# 1237.4 Receivership following conservatorship; administrative expenses.

If a receivership immediately succeeds a conservatorship, the administrative expenses of the conservatorship shall also be deemed to be administrative expenses of the subsequent receivership.