Exercise of rights
The Secretary may, at any time, exercise any rights received in connection with troubled assets purchased under this chapter.
Management of troubled assets
The Secretary shall have authority to manage troubled assets purchased under this chapter, including revenues and portfolio risks therefrom.
Sale of troubled assets
The Secretary may, at any time, upon terms and conditions and at a price determined by the Secretary, sell, or enter into securities loans, repurchase transactions, or other financial transactions in regard to, any troubled asset purchased under this chapter.
Transfer to Treasury
section 5223 of this titleRevenues of, and proceeds from the sale of troubled assets purchased under this chapter, or from the sale, exercise, or surrender of warrants or senior debt instruments acquired under shall be paid into the general fund of the Treasury for reduction of the public debt.
Application of sunset to troubled assets
section 5230 of this titlesection 5230 of this titlesection 5230 of this titleThe authority of the Secretary to hold any troubled asset purchased under this chapter before the termination date in , or to purchase or fund the purchase of a troubled asset under a commitment entered into before the termination date in , is not subject to the provisions of .
Report
The Secretary of the Treasury shall report to Congress every 6 months on amounts received and transferred to the general fund under subsection (d).
Pub. L. 110–343, div. A, title I, § 106122 Stat. 3773Pub. L. 111–203, title XIII, § 1303124 Stat. 2133(, , ; , , .)
Editorial Notes
References in Text
Pub. L. 110–343122 Stat. 3765section 5201 of this titleThis chapter, referred to in text, was in the original “this Act” and was translated as reading “this division”, meaning div. A of , , , known as the Emergency Economic Stabilization Act of 2008, to reflect the probable intent of Congress. For complete classification of division A to the Code, see Short Title note set out under and Tables.
Amendments
Pub. L. 111–2032010—Subsec. (f). added subsec. (f).
Statutory Notes and Related Subsidiaries
Effective Date of 2010 Amendment
Pub. L. 111–203section 4 of Pub. L. 111–203section 5301 of this titleAmendment by effective 1 day after , except as otherwise provided, see , set out as an Effective Date note under .