12 U.S.C. § 506
Section 506 · Notice after separation from service
This is § 19 of the Federal Reserve Act of 1913
Amended 2 times on record
Applied in 2 court decisions — leading case Ambulance Corp. of America v. Schweiker (In Re Ambulance Corp. of America) (1983)
Most recently applied in People's Trust Fed. Credit Union v. Nat'l Credit Union Admin. Bd. (October 2018)
The resignation, termination of employment or participation, or separation of an institution-affiliated party (within the meaning of section 1813(u) of this title) with respect to a member bank (including a separation caused by the closing of such a bank) shall not affect the jurisdiction and authority of the Board to issue any notice and proceed under this section against any such party, if such notice is served before the end of the 6-year period beginning on the date such party ceased to be such a party with respect to such bank (whether such date occurs before, on, or after August 9, 1989).
Editorial notes U.S. Code · Office of the Law Revision Counsel
References in Text
This section, referred to in text, means section 19 of act Dec. 23, 1913, as amended, which is classified to sections 142, 371a, 371b, 371b–1, 374, 374a, 461, 463 to 466, 505, and 506 of this title.