[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S. 2021 Introduced in Senate (IS)]

103d CONGRESS
  2d Session
                                S. 2021

   To clarify the statute of limitations for actions brought by the 
    Federal Deposit Insurance Corporation and the Resolution Trust 
                Corporation as conservator or receiver.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

               April 14 (legislative day, April 11), 1994

 Mr. Riegle (for himself, Mr. D'Amato, Mr. Kerry, and Mr. Metzenbaum) 
 (by request) introduced the following bill; which was read twice and 
    referred to the Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
   To clarify the statute of limitations for actions brought by the 
    Federal Deposit Insurance Corporation and the Resolution Trust 
                Corporation as conservator or receiver.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Bank and Thrift Statute of 
Limitations Clarification Act of 1994''.

SEC. 2. AMENDMENTS TO FEDERAL DEPOSIT INSURANCE ACT.

    Section 11(d)(14)(B)(i) of the Federal Deposit Insurance Act (12 
U.S.C. 1821(d)(14)(B)(i)) is amended by inserting after ``receiver'' 
the following: ``, regardless of whether the claim may have been barred 
under any otherwise applicable statute of limitation at the date of 
such appointment, unless such claim was barred more than 5 years before 
the date of such appointment''.

SEC. 3. APPLICABILITY.

    The provisions of this Act shall apply to all actions pending or 
brought by the Corporation as conservator or receiver on or after 
August 9, 1989.

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