§ 4621. — Liability protection for conservators.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC4621]
TITLE 12--BANKS AND BANKING
CHAPTER 46--GOVERNMENT SPONSORED ENTERPRISES
SUBCHAPTER II--REQUIRED CAPITAL LEVELS FOR ENTERPRISES AND SPECIAL
ENFORCEMENT POWERS
Sec. 4621. Liability protection for conservators
(a) Federal agencies and employees
In any case in which a conservator appointed under this subchapter
is a Federal agency or an officer or employee of the Federal Government,
the provisions of chapters 161 and 171 of title 28 shall apply with
respect to the liability of the conservator for acts or omissions
performed pursuant to and in the course of the duties and
responsibilities of the conservatorship.
(b) Other conservators
In any case where the conservator is not a conservator described in
subsection (a) of this section, the conservator shall not be personally
liable for damages in tort or otherwise for acts or omissions performed
pursuant to and in the course of the duties and responsibilities of the
conservatorship, unless such acts or omissions constitute gross
negligence or any form of intentional tortious conduct or criminal
conduct.
(c) Indemnification
The Director, with the approval of the Attorney General, may
indemnify the conservator on such terms as the Director considers
appropriate.
(Pub. L. 102-550, title XIII, Sec. 1369B, Oct. 28, 1992, 106 Stat.
3984.)
Section Referred to in Other Sections
This section is referred to in section 4620 of this title.