12 USC § 506 - Notice after separation from service

---
identifier: "/us/usc/t12/s506"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 506 - Notice after separation from service"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "506"
section_name: "Notice after separation from service"
chapter_number: 3
chapter_name: "FEDERAL RESERVE SYSTEM"
subchapter_number: "XVI"
subchapter_name: "CIVIL LIABILITY OF FEDERAL RESERVE AND MEMBER BANKS, SHAREHOLDERS, AND OFFICERS"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Dec. 23, 1913, ch. 6, § 19(m), as added Pub. L. 101–73, title IX, § 905(g), Aug. 9, 1989, 103 Stat. 461.)"
---


# § 506. Notice after separation from service

section 1813(u) of this titleAugust 9, 1989

The resignation, termination of employment or participation, or separation of an institution-affiliated party (within the meaning of ) with respect to a member bank (including a separation caused by the closing of such a bank) shall not affect the jurisdiction and authority of the Board to issue any notice and proceed under this section against any such party, if such notice is served before the end of the 6-year period beginning on the date such party ceased to be such a party with respect to such bank (whether such date occurs before, on, or after ).

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**Source Credit**: (Dec. 23, 1913, ch. 6, § 19(m), as added Pub. L. 101–73, title IX, § 905(g), Aug. 9, 1989, 103 Stat. 461.)

## Editorial Notes

### References in Text

This section, referred to in text, means section 19 of act , which is classified to sections 142, 371b, 371b–1, 374, 374a, 461, 463 to 466, 505, and 506 of this title.