US Code

Public Law 119-73 (01/23/2026)

12 U.S.C. § 191

Appointment of receiver for a national bank

(a)

In general

section 1813(h) of this titleThe Comptroller of the Currency may, without prior notice or hearings, appoint a receiver for any national bank (and such receiver shall be the Federal Deposit Insurance Corporation if the national bank is an insured bank (as defined in )) if the Comptroller determines, in the Comptroller’s discretion, that—
(1)
section 1821(c)(5) of this title 1 or more of the grounds specified in exist; or
(2)
the association’s board of directors consists of fewer than 5 members.
(b)

Judicial review

If the Comptroller of the Currency appoints a receiver under subsection (a), the national bank may, within 30 days thereafter, bring an action in the United States district court for the judicial district in which the home office of such bank is located, or in the United States District Court for the District of Columbia, for an order requiring the Comptroller of the Currency to remove the receiver, and the court shall, upon the merits, dismiss such action or direct the Comptroller of the Currency to remove the receiver.

June 30, 1876, ch. 156, § 219 Stat. 63Pub. L. 86–230, § 1673 Stat. 458Pub. L. 102–242, title I, § 133(b)105 Stat. 2271Pub. L. 102–550, title XVI, § 1603(d)(6)106 Stat. 4080Pub. L. 109–351, title VII, § 701(a)120 Stat. 1984(, formerly § 1, ; , , ; , , ; renumbered § 2 and amended , (7), , ; , , .)

Editorial Notes

Prior Provisions

section 65 of this titlePub. L. 86–230, § 873 Stat. 457A prior section 2 of act , was classified to , prior to repeal by , , .

Amendments

Pub. L. 109–351, § 701(a)(1)2006—, which directed the general amendment of the section catchline by replacing it with “Appointment of receiver for a national bank” followed by “(a) In general” and the words “The Comptroller of the Currency”, was executed by inserting the new catchline and the subsec. (a) designation and heading but not the words “The Comptroller of the Currency” which already appeared in text, to reflect the probable intent of Congress.

Pub. L. 109–351, § 701(a)(2)Subsec. (b). , added subsec. (b).

Pub. L. 102–550, § 1603(d)(7)(B)section 1813(h) of this title1992—, substituted “appoint a receiver for any national bank (and such receiver shall be the Federal Deposit Insurance Corporation if the national bank is an insured bank (as defined in ))” for “appoint the Federal Deposit Insurance Corporation as receiver for any national banking association” in introductory provisions.

Pub. L. 102–550, § 1603(d)(6)Pub. L. 102–242, § 133(b), amended directory language of . See 1991 Amendment note below.

Pub. L. 102–242, § 133(b)Pub. L. 102–550, § 1603(d)(6)section 93 of this title1991—, as amended by , amended section generally. Prior to amendment, section read as follows: “Whenever any national banking association shall be dissolved, and its rights, privileges, and franchises declared forfeited, as prescribed in , or whenever any creditor of any national banking association shall have obtained a judgment against it in any court of record, and made application, accompanied by a certificate from the clerk of the court stating that such judgment has been rendered and has remained unpaid for the space of thirty days, or whenever the comptroller shall become satisfied of the insolvency of a national banking association, he may, after due examination of its affairs, in either case, appoint a receiver, who shall proceed to close up such association.”

Pub. L. 86–2301959— struck out provisions which required receiver to enforce the personal liability of shareholders.

Statutory Notes and Related Subsidiaries

Effective Date of 2006 Amendment

Pub. L. 109–351, title VII, § 701(c)120 Stat. 1985

section 1821 of this title“The amendments made by subsections (a) and (b) [amending this section and ] shall apply with respect to conservators or receivers appointed on or after the date of enactment of this Act [].”
, , , provided that:

Effective Date of 1992 Amendment

Pub. L. 102–550, title XVI, § 1609106 Stat. 4090

“(a)

In General .—

Pub. L. 102–550Pub. L. 102–242Except as provided in subsection (b) or any other provision of this subtitle [subtitle A (§§ 1601–1609) of title XVI of , see Tables for classification], the amendments made by this subtitle to the Federal Deposit Insurance Corporation Improvement Act of 1991, the Federal Deposit Insurance Act, and any other law shall take effect as if such amendments had been included in the Federal Deposit Insurance Corporation Improvement Act of 1991 [] as of the date of the enactment of such Act [].
“(b)

Effective Date of Certain Amendments .—

In the case of any amendment made by this subtitle to any provision of law added or amended by the Federal Deposit Insurance Corporation Improvement Act of 1991 [see Tables for classification] effective after , the amendment made by this subtitle shall take effect on the effective date of the amendment made by the Federal Deposit Insurance Corporation Improvement Act of 1991.”
, , , provided that:

Effective Date of 1991 Amendment

Pub. L. 102–242, title I, § 133(g)105 Stat. 2273

“The amendments made by this section [amending this section and sections 203, 248, 1464, and 1821 of this title] shall become effective 1 year after the date of enactment of this Act [].”
, , , provided that:

Short Title

Act June 30, 1876, ch. 156, § 1Pub. L. 102–550, title XVI, § 1603(d)(7)(A)106 Stat. 4080

section 55 of this title“This Act [enacting this section, sections 65 and 197 of this title, and section 424 of former Title 31, Money and Finance, and amending ] may be cited as the ‘National Bank Receivership Act’.”
, as added by , , , provided that:

Application to District of Columbia

act Mar. 4, 1933, ch. 274, § 447 Stat. 1567Provisions of this section were made applicable to banks, etc., in the District of Columbia by , .

Termination of National Bank Closed Receivership Fund

Pub. L. 96–221, title VII94 Stat. 190Pub. L. 97–320, title IV, § 40996 Stat. 1515

“Sec. 721.
The purpose of this part [enacting this provision] is to terminate the closed receivership fund by—
“(1)
providing final notice of availability of liquidating dividends to creditors of national banks which have been closed and for which the Comptroller has appointed a receiver other than the Federal Deposit Insurance Corporation;
“(2)
barring rights of creditors to collect liquidating dividends from the Comptroller of the Currency after a reasonable period of time following such final notice; and
“(3)
refunding to the Comptroller the principal amount of such fund and any income earned thereon.
“Sec. 722.
For purposes of this part—
“(1)
the term ‘closed receivership fund’ means the aggregation of undisbursed liquidating dividends from national banks which have been closed and for which the Comptroller has appointed a receiver other than the Federal Deposit Insurance Corporation, held by the Comptroller in his capacity as successor to receivers of those banks;
“(2)
the term ‘Comptroller’ means the Comptroller of the Currency;
“(3)
the term ‘claimant’ means a depositor or other creditor who asserts a claim against a closed national bank for a liquidating dividend; and
“(4)
the term ‘liquidating dividend’ means an amount of money in the closed receivership fund determined by a receiver of a closed national bank or by the Comptroller to be owed by that bank to a depositor or other creditor.
“Sec. 723.
(a)
The Comptroller shall publish notice once a week for four weeks in the Federal Register that all rights of depositors and other creditors of closed national banks to collect liquidating dividends from the closed receivership fund shall be barred after twelve months following the last date of publication of such notice.
“(b)
The Comptroller shall pay the principal amount of a liquidating dividend, exclusive of any income earned thereon, to a claimant presenting a valid claim, if the claimant applies to collect within twelve months following the last date notice is published.
“(c)
If a creditor shall fail to apply to collect a liquidating dividend within twelve months after the last date notice is published, all rights of the claimant against the closed receivership fund with respect to the liquidating dividend shall be barred.
“(d)
The principal amount of any liquidating dividends (1) for which claims have not been asserted within twelve months following the last date notice is published or (2) for which the Comptroller has determined a valid claim has not been submitted shall, together with any income earned on liquidating dividends and other moneys, if any, remaining in the closed receivership fund, be covered into the general funds of the Comptroller.”
, §§ 721–723, , , 191, as amended , , , provided that:

Executive Documents

Exception as to Transfer of Functions

section 1 of this titleFunctions vested by any provision of law in Comptroller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under .