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§ 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.
---------------------------------------------------------------------------
    \1\ So in original. Probably should not be capitalized.
---------------------------------------------------------------------------

(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.



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