Page:United States Statutes at Large Volume 107 Part 1.djvu/362

 107 STAT. 336 PUBLIC LAW 103-66 —AUG. 10, 1993 TITLE III—BANKING AND HOUSING PROVISIONS SEC. 3001. NATIONAL DEPOSITOR PREFERENCE. (a) IN GENERAL.—Section ll(d)(ll) of the Federal Deposit Insurance Act (12 U.S.C. 1821(d)(ll)) is amended to read as follows: " (11) DEPOSITOR PREFERENCE.— "(A) IN GENERAL.— Subject to section 5(e)(2)(C), amounts realized from the liquidation or other resolution of any insured depository institution by any receiver appointed for such institution shall be distributed to pay claims (other than secured claims to the extent of any such security) in the following order of priority: ''(i) Administrative expenses oi the receiver, ''(ii) Any deposit liability of the institution, "(iii) Any other general or senior liability of the institution (which is not a liability described in clause (iv) or (v)). "(iv) Any obligation subordinated to depositors or general creditors (which is not an obligation described m clause (v)). "(v) Any obligation to shareholders or members arising as a result of their status as shareholders or members (including any depository institution holding company or any shareholder or creditor of such company). "(i) IN GENERAL.— The provisions of subparagraph (A) shall not supersede the law of any State except to the extent such law is inconsistent with the provisions of such subparagraph, and then only to the extent of the inconsistency. "(ii) PROCEDURE FOR DETERMINATION OF INCONSIST- ENCY.— Upon the Corporation's own motion or upon the request of any person with a claim described in subparagraph (A) or any State which is submitted to the Corporation in accordance with procedures which the Corporation shall prescribe, the Corporation shall determine whether any provision of the law of any State is inconsistent with any provision of subparagraph (A) and the extent of any such inconsistency, "(iii) JUDICIAL REVIEW.— The final determination of the (ISorporation under clause (ii) shall be subject to judicial review under chapter 7 of title 5, United States Code. " (C) ACCOUNTING REPORT.— Any distribution by the Corporation in connection with any claim described in subparagraph (A)(v) shall be accompanied by the accounting report required under paragraph (15)(B).'*. (b) TECHNICAL AND CONFORMING AMENDMENTS.— (1) Section ll(c)(13) of the Federal Deposit Insurance Act (12 U.S.C. 1821(c)(13)) is amended— (A) in subparagraph (A), by striking "subject to subparagraph (B),"; (B) by inserting "and" after the semicolon at the end of subparagraph (A);
 * (B) EFFECT ON STATE LAW. —

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