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U.S. Code as of:
01/19/04
Section 1811. Federal Deposit Insurance Corporation
(a) Establishment of Corporation
There is hereby established a Federal Deposit Insurance
Corporation (hereinafter referred to as the "Corporation") which
shall insure, as hereinafter provided, the deposits of all banks
and savings associations which are entitled to the benefits of
insurance under this chapter, and which shall have the powers
hereinafter granted.
(b) Asset disposition division
(1) Establishment
The Corporation shall have a separate division of asset
disposition.
(2) Management
The division of asset disposition shall have an administrator
who shall be appointed by the Board of Directors.
(3) Responsibilities of division
The division of asset disposition shall carry out all of the
responsibilities of the Corporation under this chapter relating
to the liquidation of insured depository institutions and the
disposition of assets of such institutions.
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