Page 44 - BILLS-107hr3162enr

H. R. 3162—43
‘‘(ii) LIMITATION ON LIABILITY.—A covered financial
institution shall not be liable to any person in any
court or arbitration proceeding for terminating a cor-
respondent relationship in accordance with this sub-
section.
‘‘(iii) FAILURE TO TERMINATE RELATIONSHIP.—
Failure to terminate a correspondent relationship in
accordance with this subsection shall render the cov-
ered financial institution liable for a civil penalty of
up to $10,000 per day until the correspondent relation-
ship is so terminated.’’.
(c) GRACE PERIOD.—Financial institutions shall have 60 days
from the date of enactment of this Act to comply with the provisions
of section 5318(k) of title 31, United States Code, as added by
this section.
(d) AUTHORITY TO ORDER CONVICTED CRIMINAL TO RETURN
PROPERTY LOCATED ABROAD.—
(1) FORFEITURE OF SUBSTITUTE PROPERTY.—Section 413(p)
of the Controlled Substances Act (21 U.S.C. 853) is amended
to read as follows:
‘‘(p) FORFEITURE OF SUBSTITUTE PROPERTY.—
‘‘(1) IN GENERAL.—Paragraph (2) of this subsection shall
apply, if any property described in subsection (a), as a result
of any act or omission of the defendant—
‘‘(A) cannot be located upon the exercise of due dili-
gence;
‘‘(B) has been transferred or sold to, or deposited with,
a third party;
‘‘(C) has been placed beyond the jurisdiction of the
court;
‘‘(D) has been substantially diminished in value; or
‘‘(E) has been commingled with other property which
cannot be divided without difficulty.
‘‘(2) SUBSTITUTE PROPERTY.—In any case described in any
of subparagraphs (A) through (E) of paragraph (1), the court
shall order the forfeiture of any other property of the defendant,
up to the value of any property described in subparagraphs
(A) through (E) of paragraph (1), as applicable.
‘‘(3) RETURN OF PROPERTY TO JURISDICTION.—In the case
of property described in paragraph (1)(C), the court may, in
addition to any other action authorized by this subsection,
order the defendant to return the property to the jurisdiction
of the court so that the property may be seized and forfeited.’’.
(2) PROTECTIVE ORDERS.—Section 413(e) of the Controlled
Substances Act (21 U.S.C. 853(e)) is amended by adding at
the end the following:
‘‘(4) ORDER TO REPATRIATE AND DEPOSIT.—
‘‘(A) IN GENERAL.—Pursuant to its authority to enter
a pretrial restraining order under this section, the court
may order a defendant to repatriate any property that
may be seized and forfeited, and to deposit that property
pending trial in the registry of the court, or with the
United States Marshals Service or the Secretary of the
Treasury, in an interest-bearing account, if appropriate.
‘‘(B) FAILURE TO COMPLY.—Failure to comply with an
order under this subsection, or an order to repatriate prop-
erty under subsection (p), shall be punishable as a civil