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