12 U.S. Code § 1819 - Corporate powers

(a) In general
Upon June 16, 1933, the Corporation shall become a body corporate and as such shall have power—
First. To adopt and use a corporate seal.
Second. To have succession until dissolved by an Act of Congress.
Third. To make contracts.
Fourth. To sue and be sued, and complain and defend, by and through its own attorneys, in any court of law or equity, State or Federal.
Fifth. To appoint by its Board of Directors such officers and employees as are not otherwise provided for in this chapter, to define their duties, fix their compensation, require bonds of them and fix the penalty thereof, and to dismiss at pleasure such officers or employees. Nothing in this chapter or any other Act shall be construed to prevent the appointment and compensation as an officer or employee of the Corporation of any officer or employee of the United States in any board, commission, independent establishment, or executive department thereof.
Sixth. To prescribe, by its Board of Directors, bylaws not inconsistent with law, regulating the manner in which its general business may be conducted, and the privileges granted to it by law may be exercised and enjoyed.
Seventh. To exercise by its Board of Directors, or duly authorized officers or agents, all powers specifically granted by the provisions of this chapter, and such incidental powers as shall be necessary to carry out the powers so granted.
Eighth. To make examinations of and to require information and reports from depository institutions, as provided in this chapter.
Ninth. To act as receiver.
Tenth. To prescribe by its Board of Directors such rules and regulations as it may deem necessary to carry out the provisions of this chapter or of any other law which it has the responsibility of administering or enforcing (except to the extent that authority to issue such rules and regulations has been expressly and exclusively granted to any other regulatory agency).
(b) Agency authority
(1) Status
The Corporation, in any capacity, shall be an agency of the United States for purposes of section 1345 of title 28 without regard to whether the Corporation commenced the action.
(2) Federal court jurisdiction
(A) In general
Except as provided in subparagraph (D), all suits of a civil nature at common law or in equity to which the Corporation, in any capacity, is a party shall be deemed to arise under the laws of the United States.
(B) Removal
Except as provided in subparagraph (D), the Corporation may, without bond or security, remove any action, suit, or proceeding from a State court to the appropriate United States district court before the end of the 90-day period beginning on the date the action, suit, or proceeding is filed against the Corporation or the Corporation is substituted as a party.
(C) Appeal of remand
The Corporation may appeal any order of remand entered by any United States district court.
(D) State actions
Except as provided in subparagraph (E), any action—
(i) to which the Corporation, in the Corporation’s capacity as receiver of a State insured depository institution by the exclusive appointment by State authorities, is a party other than as a plaintiff;
(ii) which involves only the preclosing rights against the State insured depository institution, or obligations owing to, depositors, creditors, or stockholders by the State insured depository institution; and
(iii) in which only the interpretation of the law of such State is necessary,
shall not be deemed to arise under the laws of the United States.
(E) Rule of construction
Subparagraph (D) shall not be construed as limiting the right of the Corporation to invoke the jurisdiction of any United States district court in any action described in such subparagraph if the institution of which the Corporation has been appointed receiver could have invoked the jurisdiction of such court.
(3) Service of process
The Board of Directors shall designate agents upon whom service of process may be made in any State, territory, or jurisdiction in which any insured depository institution is located.
(4) Bonds or fees
The Corporation shall not be required to post any bond to pursue any appeal and shall not be subject to payments of any filing fees in United States district courts or courts of appeal.

Source

(Sept. 21, 1950, ch. 967, § 2[9], 64 Stat. 881; Pub. L. 89–695, title II, § 205,Oct. 16, 1966, 80 Stat. 1055; Pub. L. 95–630, title III, § 309,Nov. 10, 1978, 92 Stat. 3677; Pub. L. 101–73, title II, § 209,Aug. 9, 1989, 103 Stat. 216; Pub. L. 102–242, title I, § 161(d),Dec. 19, 1991, 105 Stat. 2286; Pub. L. 103–325, title III, § 331(e),Sept. 23, 1994, 108 Stat. 2232.)
Prior Provisions

Section is derived from subsec. (j) of former section 264 of this title. See Codification note set out under section 1811 of this title.
Amendments

1994—Subsec. (a). Pub. L. 103–325in par. Fourth inserted “by and through its own attorneys,” after “complain and defend,”.
1991—Subsec. (b)(2)(B). Pub. L. 102–242inserted before period at end “before the end of the 90-day period beginning on the date the action, suit, or proceeding is filed against the Corporation or the Corporation is substituted as a party”.
1989—Subsec. (a). Pub. L. 101–73, § 209(2), designated existing provisions as subsec. (a) and inserted heading.
Pub. L. 101–73, § 209(3), amended par. Fourth generally. Prior to amendment, par. Fourth read as follows: “Fourth. To sue and be sued, complain and defend, in any court of law or equity, State or Federal. All suits of a civil nature at common law or in equity to which the Corporation shall be a party shall be deemed to arise under the laws of the United States, and the United States district courts shall have original jurisdiction thereof, without regard to the amount in controversy; and the Corporation may, without bond or security, remove any such action, suit, or proceeding from a State court to the United States district court for the district or division embracing the place where the same is pending by following any procedure for removal now or hereafter in effect, except that any such suit to which the Corporation is a party in its capacity as receiver of a State bank and which involves only the rights or obligations of depositors, creditors, stockholders, and such State bank under State law shall not be deemed to arise under the laws of the United States. No attachment or execution shall be issued against the Corporation or its property before final judgment in any suit, action, or proceeding in any State, county, municipal, or United States court. The Board of Directors shall designate an agent upon whom service of process may be made in any State, Territory, or jurisdiction in which any insured bank is located.”
Pub. L. 101–73, § 209(1), in par. Eighth, substituted reference to depository institutions for reference to banks.
Subsec. (b). Pub. L. 101–73, § 209(4), added subsec. (b).
1978—Pub. L. 95–630in par. Tenth inserted “or of any other law which it has the responsibility of administering or enforcing (except to the extent that authority to issue such rules and regulations has been expressly and exclusively granted to any other regulatory agency)” after “provisions of this chapter”.
1966—Pub. L. 89–695in par. Fourth vested United States district courts, without regard to the amount in controversy, with original jurisdiction over any action to which the Corporation is a party and authorized the removal of such actions to the Federal courts.
Effective Date of 1978 Amendment

Amendment effective upon expiration of 120 days after Nov. 10, 1978, see section 2101 ofPub. L. 95–630, set out as an Effective Date note under section 375b of this title.
Expiration of 1966 Amendment

Pub. L. 91–609, title IX, § 908,Dec. 31, 1970, 84 Stat. 1811, repealed Pub. L. 89–695, title IV, § 401,Oct. 19, 1966, 80 Stat. 1056, which provided that: “The provisions of titles I and II of this Act [amending sections 1464, 1730, 1813, 1817 to 1820 and repealing section 77 of this title and enacting provisions set out as notes under sections 1464, 1730, and 1813 of this title] and any provisions of law enacted by said titles shall be effective only during the period ending at the close of June 30, 1972. Effective upon the expiration of such period, each provision of law amended by either of such titles is further amended to read as it did immediately prior to the enactment of this Act [Oct. 16, 1966] and each provision of law repealed by either of such titles is reenacted.”
Conditions Governing Employment of Personnel Not Repealed, Modified, or Affected

Nothing contained in section 205 ofPub. L. 89–695amending subsec. Fourth of this section to be construed as repealing, modifying, or affecting section 1829 of this title, see section 206 ofPub. L. 89–695, set out as a note under section 1813 of this title.

This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.


5 CFR - Administrative Personnel

5 CFR Part 3201 - SUPPLEMENTAL STANDARDS OF ETHICAL CONDUCT FOR EMPLOYEES OF THE FEDERAL DEPOSIT INSURANCE CORPORATION

12 CFR - Banks and Banking

12 CFR Part 303 - FILING PROCEDURES

12 CFR Part 307 - CERTIFICATION OF ASSUMPTION OF DEPOSITS AND NOTIFICATION OF CHANGES OF INSURED STATUS

12 CFR Part 309 - DISCLOSURE OF INFORMATION

12 CFR Part 311 - RULES GOVERNING PUBLIC OBSERVATION OF MEETINGS OF THE CORPORATION'S BOARD OF DIRECTORS

12 CFR Part 323 - APPRAISALS

12 CFR Part 324 - [Reserved]

12 CFR Part 325 - CAPITAL MAINTENANCE

12 CFR Part 326 - MINIMUM SECURITY DEVICES AND PROCEDURES AND BANK SECRECY ACT 1 COMPLIANCE

12 CFR Part 328 - ADVERTISEMENT OF MEMBERSHIP

12 CFR Part 330 - DEPOSIT INSURANCE COVERAGE

12 CFR Part 332 - PRIVACY OF CONSUMER FINANCIAL INFORMATION

12 CFR Part 333 - EXTENSION OF CORPORATE POWERS

12 CFR Part 334 - FAIR CREDIT REPORTING

12 CFR Part 335 - SECURITIES OF NONMEMBER INSURED BANKS

12 CFR Part 336 - FDIC EMPLOYEES

12 CFR Part 337 - UNSAFE AND UNSOUND BANKING PRACTICES

12 CFR Part 338 - FAIR HOUSING

12 CFR Part 340 - RESTRICTIONS ON SALE OF ASSETS BY THE FEDERAL DEPOSIT INSURANCE CORPORATION

12 CFR Part 343 - CONSUMER PROTECTION IN SALES OF INSURANCE

12 CFR Part 344 - RECORDKEEPING AND CONFIRMATION REQUIREMENTS FOR SECURITIES TRANSACTIONS

12 CFR Part 345 - COMMUNITY REINVESTMENT

12 CFR Part 347 - INTERNATIONAL BANKING

12 CFR Part 349 - RETAIL FOREIGN EXCHANGE TRANSACTIONS

12 CFR Part 350 - DISCLOSURE OF FINANCIAL AND OTHER INFORMATION BY FDIC-INSURED STATE NONMEMBER BANKS

12 CFR Part 352 - NONDISCRIMINATION ON THE BASIS OF DISABILITY

12 CFR Part 353 - SUSPICIOUS ACTIVITY REPORTS

12 CFR Part 357 - DETERMINATION OF ECONOMICALLY DEPRESSED REGIONS

12 CFR Part 360 - RESOLUTION AND RECEIVERSHIP RULES

12 CFR Part 362 - ACTIVITIES OF INSURED STATE BANKS AND INSURED SAVINGS ASSOCIATIONS

12 CFR Part 364 - STANDARDS FOR SAFETY AND SOUNDNESS

12 CFR Part 366 - MINIMUM STANDARDS OF INTEGRITY AND FITNESS FOR AN FDIC CONTRACTOR

12 CFR Part 369 - PROHIBITION AGAINST USE OF INTERSTATE BRANCHES PRIMARILY FOR DEPOSIT PRODUCTION

12 CFR Part 370 - TEMPORARY LIQUIDITY GUARANTEE PROGRAM

12 CFR Part 371 - RECORDKEEPING REQUIREMENTS FOR QUALIFIED FINANCIAL CONTRACTS

12 CFR Part 390 - REGULATIONS TRANSFERRED FROM THE OFFICE OF THRIFT SUPERVISION

19 CFR - Customs Duties

 

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