View all text of Subchapter XIV [§ 201 - § 213]
§ 203. Appointment of conservator
(a) Appointment
(b) Judicial review
(1) In general
(2) Stay
(3) Actions and orders
Except as otherwise provided in this subsection, no court may take any action regarding the removal of a conservator, or restrain, or affect the exercise of powers or functions of a conservator. A court, upon application by the Comptroller, shall have jurisdiction to enforce an order of the Comptroller relating to—
(A) the conservatorship and the bank in conservatorship, or
(B) restraining or affecting the exercise of powers or functions of a conservator.
(c) Additional grounds for appointment
In addition to the foregoing provisions, the Comptroller may appoint a conservator for a bank if—
(1) the bank, by an affirmative vote of a majority of its board of directors or by an affirmative vote of a majority of its shareholders, consents to such appointment, or
(2) the Federal Deposit Insurance Corporation terminates the bank’s status as an insured bank.
The appointment of a conservator pursuant to this subsection shall not be subject to review.
(d) Exclusive authority
(e) Replacement of conservator
(Mar. 9, 1933, ch. 1, title II, § 203, 48 Stat. 2; Pub. L. 101–73, title VIII, § 802, Aug. 9, 1989, 103 Stat. 442; Pub. L. 102–242, title I, § 133(c), Dec. 19, 1991, 105 Stat. 2271.)