Page:United States Statutes at Large Volume 122.djvu/2767

 12 2 STA T . 2 74 4 PUBLIC LA W 11 0– 2 89—J UL Y3 0, 2008 pos s e ss i o n o fth e r e c ei v er , or u pon the ch a rter, of a re g u -l ate d entit y for w hich the A gency has b een appointed receiver .‘ ‘ (D)LIM I TA TI ON ON JUD I C IA LREV IE W . —Ex cept as otherwise provided in this subsection, no court shall have j urisdiction over— ‘‘(i) any clai m or action for payment from, or any action see k ing a determination of rights with respect to, the assets or charter of any regulated entity for which the Agency has been appointed receiver or ‘‘(ii) any claim relating to any act or omission of such regulated entity or the Agency as receiver. ‘‘(E) DI SP OSITION O F ASSETS.— I n exercising any right, power, privilege, or authority as conservator or receiver in connection with any sale or disposition of assets of a regulated entity for which the Agency has been appointed conservator or receiver, the Agency shall conduct its oper- ations in a manner which— ‘‘(i) maximi z es the net present value return from the sale or disposition of such assets; ‘‘(ii) minimizes the amount of any loss realized in the resolution of cases; and ‘‘(iii) ensures ade q uate competition and fair and consistent treatment of offerors. ‘‘( 12 ) S TATUTE OF LIMITATIONS FOR ACTIONS B ROU GH TB Y CONSERVATOR OR RECEIVER.— ‘‘(A) IN GENERAL.— N otwithstanding any provision of any contract, the applicable statute of limitations with regard to any action brought by the Agency as conservator or receiver shall be— ‘‘(i) in the case of any contract claim, the longer of— ‘‘(I) the 6 -year period beginning on the date on which the claim accrues; or ‘‘(II) the period applicable under State law; and ‘‘(ii) in the case of any tort claim, the longer of— ‘‘(I) the 3 -year period beginning on the date on which the claim accrues; or ‘‘(II) the period applicable under State law. ‘‘( B ) DETERMINATION OF THE DATE ON WHICH A CLAIM ACCRUES.— F or purposes of subparagraph (A), the date on which the statute of limitations begins to run on any claim described in such subparagraph shall be the later of— ‘‘(i) the date of the appointment of the Agency as conservator or receiver; or ‘‘(ii) the date on which the cause of action accrues. ‘‘(13) R EVIVAL OF E X PIRED STATE CAUSES OF ACTION.— ‘‘(A) IN GENERAL.—In the case of any tort claim described under clause (ii) for which the statute of limita- tions applicable under State law with respect to such claim has expired not more than 5 years before the appointment of the Agency as conservator or receiver, the Agency may bring an action as conservator or receiver on such claim without regard to the expiration of the statute of limitations applicable under State law. Ef f ectiv e da te .

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