12 USC § 5387 - Directors not liable for acquiescing in appointment of receiver

---
identifier: "/us/usc/t12/s5387"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 5387 - Directors not liable for acquiescing in appointment of receiver"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "5387"
section_name: "Directors not liable for acquiescing in appointment of receiver"
chapter_number: 53
chapter_name: "WALL STREET REFORM AND CONSUMER PROTECTION"
subchapter_number: "II"
subchapter_name: "ORDERLY LIQUIDATION AUTHORITY"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Pub. L. 111–203, title II, § 207, July 21, 2010, 124 Stat. 1459.)"
---


# § 5387. Directors not liable for acquiescing in appointment of receiver

section 5383 of this title

The members of the board of directors (or body performing similar functions) of a covered financial company shall not be liable to the shareholders or creditors thereof for acquiescing in or consenting in good faith to the appointment of the Corporation as receiver for the covered financial company under .

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**Source Credit**: (Pub. L. 111–203, title II, § 207, July 21, 2010, 124 Stat. 1459.)

## Statutory Notes and Related Subsidiaries

### Effective Date

Section effective 1 day after , except as otherwise provided, see , set out as a note under .