**(a) Establishment of Corporation** There is hereby established a Federal Deposit Insurance Corporation (hereinafter referred to as the “Corporation”) which shall insure, as hereinafter provided, the deposits of all banks and savings associations which are entitled to the benefits of insurance under this chapter, and which shall have the powers hereinafter granted.
**(b) Asset disposition division**
(1) **Establishment** — The Corporation shall have a separate division of asset disposition.
(2) **Management** — The division of asset disposition shall have an administrator who shall be appointed by the Board of Directors.
(3) **Responsibilities of division** — The division of asset disposition shall carry out all of the responsibilities of the Corporation under this chapter relating to the liquidation of insured depository institutions and the disposition of assets of such institutions.
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Stable record: federal_law:legal_authorities:record_usc_b0d2f1728f1d652722edbaa2 Source file: Laws/federal/codes/united-states-code/title-12/section-1811-federal-deposit-insurance-corporation--ac4e29183e.md Pages: Not recorded – Not recorded Passage SHA-256: 942a5c7a4952a5b03944851f1e3da40b46689d901e8e367026aed6c791eebad6 Retained source evidence SHA-256: 36d9bba0276d79c32b2287d3e4281221ae322aea13cdcfd7b365e41ed304fb46
Source location: Title 12, Chapter 16, § 1811; chapter-016-federal-deposit-insurance-corporation.md
Stored source content
**(a) Establishment of Corporation** There is hereby established a Federal Deposit Insurance Corporation (hereinafter referred to as the “Corporation”) which shall insure, as hereinafter provided, the deposits of all banks and savings associations which are entitled to the benefits of insurance under this chapter, and which shall have the powers hereinafter granted.
**(b) Asset disposition division**
(1) **Establishment** — The Corporation shall have a separate division of asset disposition.
(2) **Management** — The division of asset disposition shall have an administrator who shall be appointed by the Board of Directors.
(3) **Responsibilities of division** — The division of asset disposition shall carry out all of the responsibilities of the Corporation under this chapter relating to the liquidation of insured depository institutions and the disposition of assets of such institutions.
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Federal law — U.S. Code and appendices · legal_authorities
§ 1811. Federal Deposit Insurance Corporation
(a) Establishment of Corporation
There is hereby established a Federal Deposit
Insurance Corporation (hereinafter referred to
as the ‘‘Corporation’’) which shall insure, as
hereinafter provided, the deposits of all banks
and savings associations which are entitled to
the benefits of insurance under this chapter, and
which shall have the powers hereinafter granted.
(b) Asset disposition division
(1) Establishment
The Corporation shall have a separate divi-
sion of asset disposition.
(2) Management
The division of asset disposition shall have
an administrator who shall be appointed by
the Board of Directors.
(3) Responsibilities of division
The division of asset disposition shall carry
out all of the responsibilities of the Corpora-
tion under this chapter relating to the liquida-
tion of insured depository institutions and the
disposition of assets of such institutions.
(Sept. 21, 1950, ch. 967, § 2[1], 64 Stat. 873; Pub. L.
101–73, title II, § 202, Aug. 9, 1989, 103 Stat. 188;
Pub. L. 103–204, § 22(a), Dec. 17, 1993, 107 Stat.
2407.)
Editorial Notes
CODIFICATION
The Federal Deposit Insurance Corporation was origi-
nally created as a part of the Federal Reserve Act by
act June 16, 1933, ch. 89, § 8, 48 Stat. 168, which added
section 12B to the Federal Reserve Act, act Dec. 23,
1913, ch. 6, 38 Stat. 103, and was classified to section 264
of this title. Act Dec. 23, 1913, ch. 6, § 12B, as added June
16, 1933, ch. 89, § 8, 48 Stat. 168 has been amended by acts
June 16, 1934, ch. 546, § 1(1)–(10), 48 Stat. 969, 970; June 28,
1935, ch. 335, 49 Stat. 435; Aug. 23, 1935, ch. 614, § 101, 49
Stat. 684; Apr. 21, 1936, ch. 244, 49 Stat. 1237; May 25,
1938, ch. 276, 52 Stat. 442; June 16, 1938, ch. 489,