Title 12 — Banks and BankingRelease 119-73not60

§4227 Unreviewed Declarations; Petition to Pursue Action as Private Contractor

Title 12 › Chapter 43— ACTIONS AGAINST PERSONS COMMITTING BANK FRAUD CRIMES › Subchapter II— DECLARATIONS PROVIDING UNITED STATES WITH NEW INFORMATION CONCERNING RECOVERY OF ASSETS › § 4227

Last updated Apr 3, 2026|Official source

Summary

If the Attorney General tells a person who filed a claim (the declarant) that the claim has not yet been handled under section 4226(d)(1)(B), the declarant can ask the Attorney General to award a contract under subchapter III so a private lawyer can pursue the case. The declarant must file that request with the Attorney General within 30 days after getting the notice, and the Attorney General must reply within 30 days of receiving the request. The Attorney General will either give the contract under subchapter III or go ahead and bring the action themselves. If the contract is given, the declarant, after talking with the Attorney General, gets to choose the lawyer to prosecute the case, and the declarant and that lawyer must follow the rules in subchapter III.

Full Legal Text

Title 12, §4227

Banks and Banking — Source: USLM XML via OLRC

(a)(1)If, pursuant to section 4226(d)(1)(B) of this title, the Attorney General notifies a declarant that the declarant’s allegations have not yet been addressed, the declarant may notify the Attorney General to award a contract pursuant to subchapter III to pursue the case.

(2)A declarant’s notification under paragraph (1) shall be filed with the Attorney General not later than 30 days after the date of service of notice under section 4226(d)(1)(B) of this title, and the Attorney General shall respond to the notification not later than 30 days after receipt.

(b)In response to a notification under subsection (a)(1), the Attorney General shall—

(1)grant a contract pursuant to subchapter III; or

(2)proceed with an action.

(c)If the Attorney General decides to grant a contract, the declarant, after consultation with the Attorney General, shall have the right to select counsel to prosecute an action, and the declarant and the declarant’s counsel shall act in accordance with subchapter III.

Reference

Citations & Metadata

Citation

12 U.S.C. § 4227

Title 12 — Banks and Banking

Last Updated

Apr 3, 2026

Release point: 119-73not60