12 U.S. Code § 5381 - Definitions
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(a) In general
In this subchapter, the following definitions shall apply:
(1) Administrative expenses of the receiver
The term “administrative expenses of the receiver” includes—
(A) the actual, necessary costs and expenses incurred by the Corporation as receiver for a covered financial company in liquidating a covered financial company; and
(3) Bridge financial company
The term “claim” means any right to payment, whether or not such right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured.
The term “Court” means the United States District Court for the District of Columbia, unless the context otherwise requires.
(7) Covered broker or dealer
The term “covered broker or dealer” means a covered financial company that is a broker or dealer that—
(8) Covered financial company
The term “covered financial company”—
(A) means a financial company for which a determination has been made under section 5383 (b) of this title; and
(9) Covered subsidiary
The term “covered subsidiary” means a subsidiary of a covered financial company, other than—
(10) Definitions relating to covered brokers and dealers
(11) Financial company
The term “financial company” means any company that—
(iii) any company that is predominantly engaged in activities that the Board of Governors has determined are financial in nature or incidental thereto for purposes of section 1843 (k) of this title other than a company described in clause (i) or (ii); or
(iv) any subsidiary of any company described in any of clauses (i) through (iii) that is predominantly engaged in activities that the Board of Governors has determined are financial in nature or incidental thereto for purposes of section 1843 (k) of this title (other than a subsidiary that is an insured depository institution or an insurance company); and
(13) Insurance company
The term “insurance company” means any entity that is—
(14) Nonbank financial company
(15) Nonbank financial company supervised by the Board of Governors
(b) Definitional criteria
For purpose of the definition of the term “financial company” under subsection (a)(11), no company shall be deemed to be predominantly engaged in activities that the Board of Governors has determined are financial in nature or incidental thereto for purposes of section 1843 (k) of this title, if the consolidated revenues of such company from such activities constitute less than 85 percent of the total consolidated revenues of such company, as the Corporation, in consultation with the Secretary, shall establish by regulation. In determining whether a company is a financial company under this subchapter, the consolidated revenues derived from the ownership or control of a depository institution shall be included.
Source(Pub. L. 111–203, title II, § 201,July 21, 2010, 124 Stat. 1442.)
References in Text
This subchapter, referred to in text, was in the original “this title”, meaning title II of Pub. L. 111–203, July 21, 2010, 124 Stat. 1442, which is classified principally to this subchapter. For complete classification of title II to the Code, see Tables.
The Farm Credit Act of 1971, referred to in subsec. (a)(11)(C), is Pub. L. 92–181, Dec. 10, 1971, 85 Stat. 583, which is classified principally to chapter 23 (§ 2001 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 2001 of this title and Tables.
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