12 U.S.C. § 5384: Orderly liquidation of covered financial companies

creditors and shareholders will bear the losses of the financial company; management responsible for the condition of the financial company will not be retained; and the Corporation and other appropriate agencies will take all steps necessary and appropriate to assure that all parties, including management, directors, and third parties, having responsibility for the condition of the financial company bear losses consistent with their responsibility, including actions for damages, restitution, and recoupment of compensation and other gains not compatible with such responsibility. Upon the appointment of the Corporation under section 5382 of this title , the Corporation shall act as the receiver for the covered financial company, with all of the rights and obligations set forth in this subchapter. shall consult with the primary financial regulatory agency or agencies of the covered financial company and its covered subsidiaries for purposes of ensuring an orderly liquidation of the covered financial company; may consult with, or under subsection (a)(1)(B)(v) or (a)(1)(L) of section 5390 of this title , acquire the services of, any outside experts, as appropriate to inform and aid the Corporation in the orderly liquidation process; shall consult with the primary financial regulatory agency or agencies of any subsidiaries of the covered financial company that are not covered subsidiaries, and coordinate with such regulators regarding the treatment of such solvent subsidiaries and the separate resolution of any such insolvent subsidiaries under other governmental authority, as appropriate; and shall consult with the Commission and the Securities Investor Protection Corporation in the case of any covered financial company for which the Corporation has been appointed as receiver that is a broker or dealer registered with the Commission under section 78 o (b) of title 15 and is a member of the Securities Investor Protection Corporation, for the purpose of determining whether to transfer to a bridge financial company organized by the Corporation as receiver, without consent of any customer, customer accounts of the covered financial company. making loans to, or purchasing any debt obligation of, the covered financial company or any covered subsidiary; purchasing or guaranteeing against loss the assets of the covered financial company or any covered subsidiary, directly or through an entity established by the Corporation for such purpose; assuming or guaranteeing the obligations of the covered financial company or any covered subsidiary to 1 or more third parties; shall promptly notify the State insurance authority for the insurance company of the intention to take such lien; and to secure repayment of funds made available to such covered financial company or covered subsidiary; and if the Corporation determines, after consultation with the State insurance authority, that such lien will not unduly impede or delay the liquidation or rehabilitation of the insurance company, or the recovery by its policyholders; selling or transferring all, or any part, of such acquired assets, liabilities, or obligations of the covered financial company or any covered subsidiary; and making payments pursuant to subsections (b)(4), (d)(4), and (h)(5)(E) of section 5390 of this title .