Title 12 — Banks and BankingRelease 119-73not60
§4405 Preemption
Title 12 › Chapter 45— PAYMENT SYSTEM RISK REDUCTION › Subchapter I— BILATERAL AND CLEARING ORGANIZATION NETTING › § 4405
Summary
Courts, agencies, or anyone else cannot use a stay, injunction, moratorium, avoidance action, or similar legal order to stop or delay valid netting contracts from taking effect under sections 4403 and 4404.
Full Legal Text
Title 12, §4405
Banks and Banking — Source: USLM XML via OLRC
No stay, injunction, avoidance, moratorium, or similar proceeding or order, whether issued or granted by a court, administrative agency, or otherwise, shall limit or delay application of otherwise enforceable netting contracts in accordance with section 4403 and 4404 of this title.
Reference
Citations & Metadata
Citation
12 U.S.C. § 4405
Title 12 — Banks and Banking
Last Updated
Apr 3, 2026
Release point: 119-73not60