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12 U.S.C. § 4207 - U.S. Code - Unannotated Title 12. Banks and Banking § 4207. Unreviewed declarations; petition to pursue action as private contractor

Current as of January 01, 2024 | Updated by Findlaw Staff

(a)Notification

(1) If, pursuant to section 4206(d)(2) of this title, the Attorney General notifies a declarant that the declarant's allegations have not yet been addressed, the declarant may notify the Attorney General to award a contract pursuant to subchapter III to pursue the case.

(2) A declarant's notification under paragraph (1) shall be filed with the Attorney General not later than 30 days after the date of service of notice under section 4206(d)(2) of this title, and the Attorney General shall respond to the notification not later than 30 days after receipt.

(b)Contents of response

In response to a notification under subsection (a)(1), the Attorney General shall--

(1) grant a contract pursuant to subchapter III; or

(2) proceed with an action.

(c)Grant of contract

If the Attorney General decides to grant a contract, the declarant, after consultation with the Attorney General, shall have the right to select counsel to prosecute an action, and the declarant and the declarant's counsel shall act in accordance with subchapter III.

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Cite this article: FindLaw.com - 12 U.S.C. § 4207 - U.S. Code - Unannotated Title 12. Banks and Banking § 4207. Unreviewed declarations; petition to pursue action as private contractor - last updated January 01, 2024 | https://codes.findlaw.com/us/title-12-banks-and-banking/12-usc-sect-4207/

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