PRIA, Government Policy, Made Personal

Summary

It is illegal to knowingly hide or try to hide money or property, to dishonestly block the work of, or to dishonestly move property out of reach of certain federal agencies that handle failed banks or similar institutions: the Federal Deposit Insurance Corporation (when acting as conservator, receiver, or in its corporate role under sections 11, 12, or 13 of the Federal Deposit Insurance Act or under title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act), any conservator appointed by the Comptroller of the Currency, or the National Credit Union Administration Board when acting as conservator or liquidating agent. A person who does any of these things can be fined, put in prison for up to 5 years, or both.

Title 18, §1032

Crimes and Criminal Procedure, Source: USLM XML via OLRC

Whoever—

(1)knowingly conceals or endeavors to conceal an asset or property from the Federal Deposit Insurance Corporation, acting as conservator or receiver or in the Corporation’s corporate capacity with respect to any asset acquired or liability assumed by the Corporation under section 11, 12, or 13 of the Federal Deposit Insurance Act, any conservator appointed by the Comptroller of the Currency, the Federal Deposit Insurance Corporation acting as receiver for a covered financial company, in accordance with title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act, or the National Credit Union Administration Board, acting as conservator or liquidating agent;

(2)corruptly impedes or endeavors to impede the functions of such Corporation, Board, or conservator; or

(3)corruptly places or endeavors to place an asset or property beyond the reach of such Corporation, Board, or conservator,

shall be fined under this title or imprisoned not more than 5 years, or both.

Notes & Related Subsidiaries

Editorial Notes

References in Text

section 11, 12, and 13 of the Federal Deposit Insurance Act, referred to in par. (1), are classified to section 1821, 1822, and 1823, respectively, of Title 12, Banks and Banking. The Dodd-Frank Wall Street Reform and Consumer Protection Act, referred to in par. (1), is Pub. L. 111–203, July 21, 2010, 124 Stat. 1376. Title II of the Act is classified principally to subchapter II (§ 5381 et seq.) of chapter 53 of Title 12, Banks and Banking. For complete classification of this Act to the Code, see

Short Title

note set out under section 5301 of Title 12 and Tables.

Amendments

2010—Pub. L. 111–203, § 211(b), struck out “of financial institution” after “agent” in section catchline. Par. (1). Pub. L. 111–203, § 377(7), struck out “the Resolution Trust Corporation,” after “Federal Deposit Insurance Act,” and “or the Director of the Office of Thrift Supervision” after “Comptroller of the Currency”. Pub. L. 111–203, § 211(a), inserted “the Federal Deposit Insurance Corporation acting as receiver for a covered financial company, in accordance with title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act,” before “or the National Credit”. 2002—Par. (1). Pub. L. 107–273 substituted “13” for “13,”.

Statutory Notes and Related Subsidiaries

Effective Date

of 2010 AmendmentAmendment by section 211(a), (b) of Pub. L. 111–203 effective 1 day after July 21, 2010, except as otherwise provided, see section 4 of Pub. L. 111–203, set out as an

Effective Date

note under section 5301 of Title 12, Banks and Banking. Amendment by section 377(7) of Pub. L. 111–203 effective on the transfer date, see section 351 of Pub. L. 111–203, set out as a note under section 906 of Title 2, The Congress.

§1032 Concealment of Assets From Conservator, Receiver, or Liquidating Agent

Summary

Title 18, §1032

Notes & Related Subsidiaries

Editorial Notes

References in Text

Short Title

Amendments

Statutory Notes and Related Subsidiaries

Effective Date

Effective Date

Citations & Metadata