# 12 C.F.R. § 359.7 (2026): Applicability in the event of receivership

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/CFR_T12_P359_S359_7

## Section

- **Citation:** 12 C.F.R. § 359.7 (2026)
- **Heading:** Applicability in the event of receivership
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Title 12 CFR: Banks and Banking / Chapter III: FEDERAL DEPOSIT INSURANCE CORPORATION / Part 359: GOLDEN PARACHUTE AND INDEMNIFICATION PAYMENTS / § 359.7: § 359.7   Applicability in the event of receivership.

## Text

The provisions of this part, or any consent or approval granted under the provisions of this part by the FDIC (in its corporate capacity), shall not in any way bind any receiver of a failed insured depository institution. Any consent or approval granted under the provisions of this part by the FDIC or any other federal banking agency shall not in any way obligate such agency or receiver to pay any claim or obligation pursuant to any golden parachute, severance, indemnification or other agreement. Claims for employee welfare benefits or other benefits which are contingent, even if otherwise vested, when the FDIC is appointed as receiver for any depository institution, including any contingency for termination of employment, are not provable claims or actual, direct compensatory damage claims against such receiver. Nothing in this part may be construed to permit the payment of salary or any liability or legal expense of any IAP contrary to 12 U.S.C. 1828(k)(3).

## Nearby sections

- [12 C.F.R. § 359.0 (2026) § 359.0   Scope.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P359_S359_0.md)
- [12 C.F.R. § 359.1 (2026) § 359.1   Definitions.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P359_S359_1.md)
- [12 C.F.R. § 359.2 (2026) § 359.2   Golden parachute payments prohibited.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P359_S359_2.md)
- [12 C.F.R. § 359.3 (2026) § 359.3   Prohibited indemnification payments.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P359_S359_3.md)
- [12 C.F.R. § 359.4 (2026) § 359.4   Permissible golden parachute payments.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P359_S359_4.md)
- [12 C.F.R. § 359.5 (2026) § 359.5   Permissible indemnification payments.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P359_S359_5.md)
- [12 C.F.R. § 359.6 (2026) § 359.6   Filing instructions.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P359_S359_6.md)
- [12 C.F.R. § 359.7 (2026) § 359.7   Applicability in the event of receivership.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P359_S359_7.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/CFR_T12_P359_S359_7. Check the current official text before relying on it. Not legal advice.