liability or legal expense
Defined in 4 places — 2 distinct definitions of the United States Code.
The term “liability or legal expense” means—
(i) any legal or other professional expense incurred in connection with any claim, proceeding, or action;
(ii) the amount of, and any cost incurred in connection with, any settlement of any claim, proceeding, or action; and
(iii) the amount of, and any cost incurred in connection with, any judgment or penalty imposed with respect to any claim, proceeding, or action.
Same definition in 3 sections
- 1994–present12 U.S.C. § 1786Banks and Banking · Termination of insured credit union status; cease and desist orders; removal or suspension from office; procedure · under this section
- 1994–present12 U.S.C. § 1828Banks and Banking · Regulations governing insured depository institutions · in this section
- 2008–present12 U.S.C. § 4518Banks and Banking · Prohibition and withholding of executive compensation · in this section
The term “liability or legal expense” means—
(A) a legal or other professional expense incurred in connection with any claim, proceeding, or action;
(B) the amount of, and any cost incurred in connection with, any settlement of any claim, proceeding, or action; and
(C) the amount of, and any cost incurred in connection with, any judgment or penalty imposed with respect to any claim, proceeding, or action.
Source
- 1996–present12 U.S.C. § 2277ABanks and Banking · Authority to regulate golden parachute and indemnification payments · in this section