Page:United States Statutes at Large Volume 119.djvu/26

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PUBLIC LAW 109-000—MMMM. DD, 2005

119 STAT. 8

PUBLIC LAW 109–2—FEB. 18, 2005 ‘‘(3) any proposed or final notification to class members of— ‘‘(A)(i) the members’ rights to request exclusion from the class action; or ‘‘(ii) if no right to request exclusion exists, a statement that no such right exists; and ‘‘(B) a proposed settlement of a class action; ‘‘(4) any proposed or final class action settlement; ‘‘(5) any settlement or other agreement contemporaneously made between class counsel and counsel for the defendants; ‘‘(6) any final judgment or notice of dismissal; ‘‘(7)(A) if feasible, the names of class members who reside in each State and the estimated proportionate share of the claims of such members to the entire settlement to that State’s appropriate State official; or ‘‘(B) if the provision of information under subparagraph (A) is not feasible, a reasonable estimate of the number of class members residing in each State and the estimated proportionate share of the claims of such members to the entire settlement; and ‘‘(8) any written judicial opinion relating to the materials described under subparagraphs (3) through (6). ‘‘(c) DEPOSITORY INSTITUTIONS NOTIFICATION.— ‘‘(1) FEDERAL AND OTHER DEPOSITORY INSTITUTIONS.—In any case in which the defendant is a Federal depository institution, a depository institution holding company, a foreign bank, or a non-depository institution subsidiary of the foregoing, the notice requirements of this section are satisfied by serving the notice required under subsection (b) upon the person who has the primary Federal regulatory or supervisory responsibility with respect to the defendant, if some or all of the matters alleged in the class action are subject to regulation or supervision by that person. ‘‘(2) STATE DEPOSITORY INSTITUTIONS.—In any case in which the defendant is a State depository institution (as that term is defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813)), the notice requirements of this section are satisfied by serving the notice required under subsection (b) upon the State bank supervisor (as that term is defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813)) of the State in which the defendant is incorporated or chartered, if some or all of the matters alleged in the class action are subject to regulation or supervision by that person, and upon the appropriate Federal official. ‘‘(d) FINAL APPROVAL.—An order giving final approval of a proposed settlement may not be issued earlier than 90 days after the later of the dates on which the appropriate Federal official and the appropriate State official are served with the notice required under subsection (b). ‘‘(e) NONCOMPLIANCE IF NOTICE NOT PROVIDED.— ‘‘(1) IN GENERAL.—A class member may refuse to comply with and may choose not to be bound by a settlement agreement or consent decree in a class action if the class member demonstrates that the notice required under subsection (b) has not been provided. ‘‘(2) LIMITATION.—A class member may not refuse to comply with or to be bound by a settlement agreement or consent

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