,,ii  #aafth ,,congress  #ast ,session  
,s4 #abig  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,may #b1       
#bjai,mr4 ,moran 7for himself and ,mr4  
,roberts7 introduced the following bill2
 which was read twice and referred to   
the ,committee on ,banking1 ,housing1   
and ,urban ,affairs  ,a ,,bill  ,to     
amend the ,federal ,deposit ,insurance  
,act to provide shareholders of certain 
depository institutions a cause of      
action for assets seized by an          
appropriate ,federal banking agency4    
#a4 ,short title ,this ,act may be cited
 as the ,independent and ,community     
,bank ,shareholders ,protection ,act4   
#b4 ,shareholder claims  7a7 ,in general
 ,section #aa7;d7 of the ,federal       
,deposit ,insurance ,act 7#ab ,u4,s4,c4 
#ahba7;d77 is amended by adding at the  
end the following3  7#ba7 ,shareholder  
claims for just compensation  7,a7      
,definition ,in this paragraph1 the term
 covered institution means a depository 
institution-- 7i7 for which the         

,corporation has appointed a conservator
 or receiver2 and  7ii7 that has total  
assets of less than #ae1jjj1jjj as of   
the date on which the institution enters
 conservatorship or receivership4  7,b7 
,claims authorized  7i7 ,in general ,a  
shareholder of a covered institution may
 file a claim with the ,corporation for 
just compensation to be paid by the     
,corporation to the shareholder4  7ii7  
,holding companies ,a shareholder of a  
depository institution holding company  
may file a claim authorized by this     
subparagraph on behalf of such company  
with respect to a covered institution4  
7,c7 ,amount to be paid ,just           
compensation shall be paid to a         
shareholder for a claim under this      
paragraph in an amount equal to the     
pro-rata share of the shareholder of the
 net worth of the covered institution   
according to generally accepted         
accounting principles determined as of  
the date on which the covered           
institution enters conservatorship or   

receivership1 whichever occurs first4   
7,d7 ,limitation on payment of claims   
,the ,corporation shall not pay a claim 
under subparagraph 7,b7 if-- 7i7 the    
covered institution is determined by the
 final judgment of a court of competent 
jurisdiction to have been insolvent as  
of the date on which the ,corporation   
was appointed conservator or receiver2  
or  7ii7 the administrative expenses of 
the ,corporation arising from the       
appointment of a conservator or receiver
 for the covered institution exceed     
available funds from the covered        
institution1 any deposit liability of   
the institution1 any other general or   
senior liability of the institution and 
any obligation subordinated to          
depositors or general credits exceed the
 available funds from the covered       
institution4  7,e7 ,statute of          
limitations  7i7 ,in general ,except as 
provided in clause 7ii71 the applicable 
statute of limitations with regard to a 
claim brought by a shareholder under    

subparagraph 7,b7 shall be #ij days     
beginning on the date that a conservator
 or receiver is appointed for the       
covered institution pursuant to this    
,act4  7ii7 ,claims arising from prior  
actions ,the applicable statute of      
limitations with regard to a claim      
brought by a shareholder under          
subparagraph 7,b7 for a covered         
institution for which a conservator or  
receiver was appointed before the date  
of enactment of this paragraph shall be 
#ij days beginning on the date of       
enactment of this paragraph4  7,f7      
,savings association shareholders ,the  
rights provided to a shareholder under  
subparagraph 7,b71 shall apply in the   
same manner and to the same extent to-- 
7i7 a shareholder of a savings          
association for which the ,office of    
,thrift ,supervision or the ,office of  
the ,comptroller of the ,currency       
appointed a conservator or receiver2 and
  7ii7 a shareholder of a savings and   
loan holding company on behalf of such  

holding company with respect to a       
savings association for which the       
,office of ,thrift ,supervision or the  
,office of the ,comptroller of the      
,currency appointed a conservator or    
receiver4  7,g7 ,special rules  7i7     
,prior claims ,a shareholder shall not  
be precluded from filing a claim under  
this paragraph if a claim with respect  
to the same conservatorship or          
receivership has been previously        
adjudicated before a court of competent 
jurisdiction4  7ii7 ,united ,states     
,court of ,federal ,claims ,a           
shareholder may seek review of a denial 
by the ,corporation of a claim filed    
under this paragraph in the ,united     
,states ,court of ,federal ,claims4  4