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.
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.
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.
(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.
(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.
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, order, or settlement.
(Pub. L. 101–647, title XXV, §2580, Nov. 29, 1990, 104 Stat. 4901.)
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Last modified: October 26, 2015