§ 1977. — Limitation of actions; suspension of limitations.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC1977]
TITLE 12--BANKS AND BANKING
CHAPTER 22--TYING ARRANGEMENTS
Sec. 1977. Limitation of actions; suspension of limitations
(1) Subject to paragraph (2) of this section, any action to enforce
any cause of action under this chapter shall be forever barred unless
commenced within four years after the cause of action accrued.
(2) Whenever any enforcement action is instituted by or on behalf of
the United States with respect to any matter which is or could be the
subject of a private right of action under this chapter, the running of
the statute of limitations in respect of every private right of action
arising under this chapter and based in whole or in part on such matter
shall be suspended during the pendency of the enforcement action so
instituted and for one year thereafter: Provided, That whenever the
running of the statute of limitations in respect of a cause of action
arising under this chapter is suspended under this paragraph, any action
to enforce such cause of action shall be forever barred unless commenced
either within the period of suspension or within the four-year period
referred to in paragraph (1) of this section.
(Pub. L. 91-607, title I, Sec. 106(g), Dec. 31, 1970, 84 Stat. 1768.)
