; but any such waiver shall be effected in such manner and on such terms and conditions as will not increase recoveries or dividends on account of claims to which the Corporation is not subrogated. (4) Applicability of State law Subject to subsection (e)(11), if the Corporation is appointed pursuant to subsection (d)(3), the rights of customers and other creditors of any State-chartered payment stablecoin issuer shall be determined in accordance with the applicable provisions of State law. (i) Valuation of claims in default (1) In general Notwithstanding any other provision of Federal law or the law of any State and regardless of the method which the Corporation determines to utilize with respect to a payment stablecoin issuer in default or in danger of default, including transactions authorized under subsection (o), this subsection shall govern the rights of the creditors (other than customers) of such institution. (2) Maximum liability The maximum liability of the Corporation, acting as receiver or in any other capacity, to any person having a claim against the receiver or the payment stablecoin issuer for which such receiver is appointed shall equal the amount such claimant would have received if the Corporation had liquidated the assets and liabilities of such institution without exercising the Corporation’s authority under subsection (o) of this section. (j) Limitation on court action Except as provided in this section, no court may take any action, except at the request of the Board of Directors of the Corporation by regulation or order, to restrain or affect the exercise of powers or functions of the Corporation as a conservator or a receiver. (k) Liability of directors and officers A director or officer of a payment stablecoin issuer may be held personally liable for monetary damages in any civil action by, on behalf of, or at the request or direction of the Corporation, which action is prosecuted wholly or partially for the benefit of the Corporation— (1) acting as conservator or receiver of such issuer