§ 4623. — Judicial review of Director action.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC4623]
TITLE 12--BANKS AND BANKING
CHAPTER 46--GOVERNMENT SPONSORED ENTERPRISES
SUBCHAPTER II--REQUIRED CAPITAL LEVELS FOR ENTERPRISES AND SPECIAL
ENFORCEMENT POWERS
Sec. 4623. Judicial review of Director action
(a) Jurisdiction
(1) Filing of petition
An enterprise that is not classified as critically
undercapitalized and is the subject of a classification under
section 4614 of this title or a discretionary supervisory action
taken under this subchapter by the Director (other than action to
appoint a conservator under section 4616 or 4617 of this title or
action under section 4619 of this title) may obtain review of the
classification or action by filing, within 10 days after receiving
written notice of the Director's action, a written petition
requesting that the classification or action of the Director be
modified, terminated, or set aside.
(2) Place for filing
A petition filed pursuant to this subsection shall be filed in
the United States Court of Appeals for the District of Columbia
Circuit.
(b) Scope of review
The Court \1\ may modify, terminate, or set aside an action taken by
the Director and reviewed by the Court \1\ pursuant to this section only
if the court finds, on the record on which the Director acted, that the
action of the Director was arbitrary, capricious, an abuse of
discretion, or otherwise not in accordance with applicable laws.
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\1\ So in original. Probably should not be capitalized.
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(c) Unavailability of stay
The commencement of proceedings for judicial review pursuant to this
section shall not operate as a stay of any action taken by the Director.
Pending judicial review of the action, the court shall not have
jurisdiction to stay, enjoin, or otherwise delay any supervisory action
taken by the Director with respect to an enterprise that is classified
as significantly or critically undercapitalized or any action of the
Director that results in the classification of an enterprise as
significantly or critically undercapitalized.
(d) Limitation on jurisdiction
Except as provided in this section, no court shall have jurisdiction
to affect, by injunction or otherwise, the issuance or effectiveness of
any classification or action of the Director under this subchapter
(other than appointment of a conservator under section 4616 or 4617 of
this title or action under section 4619 of this title) or to review,
modify, suspend, terminate, or set aside such classification or action.
(Pub. L. 102-550, title XIII, Sec. 1369D, Oct. 28, 1992, 106 Stat.
3985.)
Section Referred to in Other Sections
This section is referred to in section 4635 of this title.