Title 12Banks and BankingRelease 119-73

§4637 Notice after separation from service

Title 12 › Chapter CHAPTER 46— - GOVERNMENT SPONSORED ENTERPRISES › Subchapter SUBCHAPTER III— - ENFORCEMENT PROVISIONS › § 4637

Last updated Apr 6, 2026|Official source

Summary

The Director can still act against someone who left an entity if notice is served within 6 years after leaving.

Full Legal Text

Title 12, §4637

Banks and Banking — Source: USLM XML via OLRC

The resignation, termination of employment or participation, or separation of an entity-affiliated party shall not affect the jurisdiction and authority of the Director to issue any notice and proceed under this subchapter against any such entity-affiliated party, if such notice is served before the end of the 6-year period beginning on the date such entity-affiliated party ceases to be associated with the regulated entity.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Prior Provisions

A prior section 1379 of Pub. L. 102–550 was renumbered section 1379B and is classified to section 4639 of this title.

Amendments

2008—Pub. L. 110–289, § 1157(4), which directed the substitution of “regulated entity.” for “enterprise.” could not be executed because of the prior amendment by Pub. L. 110–289, § 1156(b)(1). See below. Pub. L. 110–289, § 1157(3), which directed the substitution of “entity-affiliated party” for “director or officer” wherever appearing, was executed by making the substitution for “director or executive officer” in two places, to reflect the probable intent of Congress. Pub. L. 110–289, § 1157(2), which directed the substitution of “an entity-affiliated party” for “a director or executive officer of an enterprise”, was executed by making the substitution for “a director or executive officer of a regulated entity”, to reflect the probable intent of Congress and the prior amendment by Pub. L. 110–289, § 1156(b)(1). See below. Pub. L. 110–289, § 1157(1), substituted “6-year” for “2-year”. Pub. L. 110–289, § 1156(b)(1), substituted “a regulated entity” for “an enterprise” and “the regulated entity” for “the enterprise”.

Reference

Citations & Metadata

Citation

12 U.S.C. § 4637

Title 12Banks and Banking

Last Updated

Apr 6, 2026

Release point: 119-73