§ 4225. — Rights of declarants; participation in actions, awards.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC4225]
TITLE 12--BANKS AND BANKING
CHAPTER 43--ACTIONS AGAINST PERSONS COMMITTING BANK FRAUD CRIMES
SUBCHAPTER II--DECLARATIONS PROVIDING UNITED STATES WITH NEW INFORMATION
CONCERNING RECOVERY OF ASSETS
Sec. 4225. Rights of declarants; participation in actions,
awards
(a) In general
A person who has filed a declaration that meets the requirements of
sections 4221 through 4224 of this title shall have the rights stated in
this section.
(b) Civil action
If the Attorney General determines that a proceeding to recover the
asset or assets identified in the declaration should be referred to
private counsel pursuant to subchapter III of this chapter, the
declarant, after consultation with the Attorney General, shall have the
right to select counsel to prosecute the action, and the declarant and
the declarant's counsel shall act in accordance with subchapter III of
this chapter.
(c) Share of assets
When the United States recovers any asset or assets specifically
identified in a valid declaration filed under section 4221 of this title
and the Attorney General determines that the asset or assets would not
have been recovered if the declaration had not been filed, the declarant
shall have the right to share in the recovery in the amount of 20
percent to 30 percent of any recovery up to the first $1,000,000
recovered, 10 percent to 20 percent of the next $4,000,000 recovered,
and 5 percent to 10 percent of the next $5,000,000 recovered.
(d) Prohibition of double awards
(1) No person shall receive both an award under this section and a
reward under either section 1831k of this title or section 3509A \1\ of
title 18 for providing the same or substantially similar information.
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\1\ See References in Text note below.
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(2) When a person qualifies for both an award under this section and
a reward under either section 1831k of this title or section 3509A \1\
of title 18 for providing the same or substantially similar information,
the person may notify the Attorney General in writing of the person's
election to seek an award under this section or a reward under such
other section.
(e) Appropriate Federal banking agency exception
For purposes of this section, funds or assets acquired by the United
States shall not include any funds or assets acquired by any appropriate
Federal banking agency acting in any capacity or the Resolution Trust
Corporation acting in any capacity, except for any civil money penalties
recovered by a Federal banking agency through a final judgement,\2\
order, or settlement.
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\2\ So in original. Probably should be ``judgment,''.
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(Pub. L. 101-647, title XXV, Sec. 2580, Nov. 29, 1990, 104 Stat. 4901.)
References in Text
Section 3509A of title 18, referred to in subsec. (d)(1), probably
is a reference to former section 3059A of title 18, which was repealed
by Pub. L. 107-273, div. A, title III, Sec. 301(c)(2), Nov. 2, 2002, 116
Stat. 1781.
Section Referred to in Other Sections
This section is referred to in sections 4223, 4224, 4226, 4241 of
this title.
