12 USC § 4405 - Preemption

---
identifier: "/us/usc/t12/s4405"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 4405 - Preemption"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "4405"
section_name: "Preemption"
chapter_number: 45
chapter_name: "PAYMENT SYSTEM RISK REDUCTION"
subchapter_number: "I"
subchapter_name: "BILATERAL AND CLEARING ORGANIZATION NETTING"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Pub. L. 102–242, title IV, § 405, Dec. 19, 1991, 105 Stat. 2375.)"
---


# § 4405. Preemption

No stay, injunction, avoidance, moratorium, or similar proceeding or order, whether issued or granted by a court, administrative agency, or otherwise, shall limit or delay application of otherwise enforceable netting contracts in accordance with sections 4403 and 4404 of this title.

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**Source Credit**: (Pub. L. 102–242, title IV, § 405, Dec. 19, 1991, 105 Stat. 2375.)