Amendment101st Congress
Amendment restricted the personal assets that an individual who has committed fraud or misconduct against an insured depository institution could shield under the homestead exemptions contained in various State laws.
- Amendment Number
- 836
- Description
- Amendment restricted the personal assets that an individual who has committed fraud or misconduct against an insured depository institution could shield under the homestead exemptions contained in various State laws.
- Purpose
- An amendment to preempt state homeowner exemptions in bankruptcy proceedings of persons who committed fraud or acted recklessly with respect to a failed bank or savings and loan institution seized by the Federal Government, and from whom the Government is trying to recover illegally obtained assets. The amendment would allow the FDIC and the Resolution Trust Corporation to preempt state bankruptcy homestead exemptions, in order to recover illegally obtained assets by seizing such homes.
- Congress
- 101
- Type
- HAMDT
- Latest Action Date
- Oct 5, 1990
- Latest Action Text
- On agreeing to the Wylie amendment (A025) Agreed to by voice vote.
- Latest Action Time
- 12:25:43
- Submitted Date
- Oct 5, 1990
- Chamber
- House of Representatives
- Update Date
- Jul 1, 2021