Page:United States Statutes at Large Volume 124.djvu/1526

 124 STAT. 1500 PUBLIC LAW 111–203—JULY 21, 2010 (ii) all creditors that are similarly situated under subsection (b)(1) receive not less than the amount pro- vided under paragraphs (2) and (3) of subsection (d). (F) LIMITATION ON TRANSFER OF LIABILITIES.—Notwith- standing any other provision of law, the aggregate amount of liabilities of a covered financial company that are trans- ferred to, or assumed by, a bridge financial company from a covered financial company may not exceed the aggregate amount of the assets of the covered financial company that are transferred to, or purchased by, the bridge finan- cial company from the covered financial company. (6) STAY OF JUDICIAL ACTION.—Any judicial action to which a bridge financial company becomes a party by virtue of its acquisition of any assets or assumption of any liabilities of a covered financial company shall be stayed from further pro- ceedings for a period of not longer than 45 days (or such longer period as may be agreed to upon the consent of all parties) at the request of the bridge financial company. (7) AGREEMENTS AGAINST INTEREST OF THE BRIDGE FINAN- CIAL COMPANY.—No agreement that tends to diminish or defeat the interest of the bridge financial company in any asset of a covered financial company acquired by the bridge financial company shall be valid against the bridge financial company, unless such agreement— (A) is in writing; (B) was executed by an authorized officer or representa- tive of the covered financial company or confirmed in the ordinary course of business by the covered financial com- pany; and (C) has been on the official record of the company, since the time of its execution, or with which, the party claiming under the agreement provides documentation of such agreement and its authorized execution or confirma- tion by the covered financial company that is acceptable to the receiver. (8) NO FEDERAL STATUS.— (A) AGENCY STATUS.—A bridge financial company is not an agency, establishment, or instrumentality of the United States. (B) EMPLOYEE STATUS.—Representatives for purposes of paragraph (1)(B), directors, officers, employees, or agents of a bridge financial company are not, solely by virtue of service in any such capacity, officers or employees of the United States. Any employee of the Corporation or of any Federal instrumentality who serves at the request of the Corporation as a representative for purposes of para- graph (1)(B), director, officer, employee, or agent of a bridge financial company shall not— (i) solely by virtue of service in any such capacity lose any existing status as an officer or employee of the United States for purposes of title 5, United States Code, or any other provision of law; or (ii) receive any salary or benefits for service in any such capacity with respect to a bridge financial company in addition to such salary or benefits as are obtained through employment with the Corporation or such Federal instrumentality.