An amendment to add the language in quotes to the bill: In the event the Secretary has paid to a receiver of a qualified insured bank the dollar amount of outstanding guarantees of net worth, the Secretary of the Treasury shall have the right to recover such amount from the assets of the bank involved, subject to the prior payment of all accounts, certificates of deposit, and debt obligations "other than debt obligations subordinated to the claims of general creditors which were outstanding when any such guarantee of net worth was issued".

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Amendment Number
541
Description
An amendment to add the language in quotes to the bill: In the event the Secretary has paid to a receiver of a qualified insured bank the dollar amount of outstanding guarantees of net worth, the Secretary of the Treasury shall have the right to recover such amount from the assets of the bank involved, subject to the prior payment of all accounts, certificates of deposit, and debt obligations "other than debt obligations subordinated to the claims of general creditors which were outstanding when any such guarantee of net worth was issued".
Purpose
An amendment to add the language in quotes to the bill: In the event the Secretary has paid to a receiver of a qualified insured bank the dollar amount of outstanding guarantees of net worth, the Secretary of the Treasury shall have the right to recover such amount from the assets of the bank involved, subject to the prior payment of all accounts, certificates of deposit, and debt obligations "other than debt obligations subordinated to the claims of general creditors which were outstanding when any such guarantee of net worth was issued".
Congress
97
Type
HAMDT
Latest Action Date
May 20, 1982
Latest Action Text
Amendment Passed in Committee of the Whole by Voice Vote.
Submitted Date
May 20, 1982
Chamber
House of Representatives
Update Date
Aug 14, 2021
Amendment 541 — Informed