28 U.S.C. § 3306

Current through P.L. 118-47 (published on www.congress.gov on 03/23/2024)

Section 3306 - Remedies of the United States

(a) IN GENERAL.-In an action or proceeding under this subchapter for relief against a transfer or obligation, the United States, subject to section 3307 and to applicable principles of equity and in accordance with the Federal Rules of Civil Procedure, may obtain-

(1) avoidance of the transfer or obligation to the extent necessary to satisfy the debt to the United States;

(2) a remedy under this chapter against the asset transferred or other property of the transferee; or

(3) any other relief the circumstances may require.

(b) LIMITATION.-A claim for relief with respect to a fraudulent transfer or obligation under this subchapter is extinguished unless action is brought-

(1) under section 3304(b)(1)(A) within 6 years after the transfer was made or the obligation was incurred or, if later, within 2 years after the transfer or obligation was or could reasonably have been discovered by the claimant;

(2) under subsection (a)(1) or (b)(1)(B) of section 3304 within 6 years after the transfer was made or the obligation was incurred; or

(3) under section 3304(a)(2) within 2 years after the transfer was made or the obligation was incurred.

28 U.S.C. § 3306

Added Pub. L. 101-647, title XXXVI, §36113611,, 104 Stat. 4963.

EDITORIAL NOTES

REFERENCES IN TEXTThe Federal Rules of Civil Procedure, referred to in subsec. (a), are set out in the Appendix to this title.

STATUTORY NOTES AND RELATED SUBSIDIARIES

EFFECTIVE DATESection effective 180 days after Nov. 29, 1990, and applicable with respect to certain actions for debts owed the United States pending in court on that effective date, see section 3631 of Pub. L. 101-647 set out as a note under section 3001 of this title.

Court

"Court" means any court created by the Congress of the United States, excluding the United States Tax Court.

Debt

"Debt" means-(A) an amount that is owing to the United States on account of a direct loan, or loan insured or guaranteed, by the United States; or(B) an amount that is owing to the United States on account of a fee, duty, lease, rent, service, sale of real or personal property, overpayment, fine, assessment, penalty, restitution, damages, interest, tax, bail bond forfeiture, reimbursement, recovery of a cost incurred by the United States, or other source of indebtedness to the United States, but that is not owing under the terms of a contract originally entered into by only persons other than the United States;and includes any amount owing to the United States for the benefit of an Indian tribe or individual Indian, but excludes any amount to which the United States is entitled under section 3011(a).

Property

"Property" includes any present or future interest, whether legal or equitable, in real, personal (including choses in action), or mixed property, tangible or intangible, vested or contingent, wherever located and however held (including community property and property held in trust (including spendthrift and pension trusts)), but excludes-(A) property held in trust by the United States for the benefit of an Indian tribe or individual Indian; and(B) Indian lands subject to restrictions against alienation imposed by the United States.

United States

"United States" means-(A) a Federal corporation;(B) an agency, department, commission, board, or other entity of the United States; or(C) an instrumentality of the United States.