Amendments
2006—Subsec. (b)(5). Pub. L. 109–173, § 8(a)(2), substituted “the Deposit Insurance Fund,” for “the Bank Insurance Fund or the Savings Association Insurance Fund,”.
Pub. L. 109–171 repealed Pub. L. 104–208, § 2704(d)(14)(B). See 1996 Amendment note below.
Subsec. (c)(4). Pub. L. 109–173, § 8(a)(3), substituted “Deposit Insurance Fund” for “deposit insurance fund”.
Subsec. (d). Pub. L. 109–171 repealed Pub. L. 104–208, § 2704(d)(14)(C), (D). See 1996 Amendment note below.
Subsec. (d)(1). Pub. L. 109–173, § 8(a)(5) substituted, “the reserve ratio of the Deposit Insurance Fund” for “reserve ratios in the Bank Insurance Fund and the Savings Association Insurance Fund as required by section 1817 of this title” in subpar. (A), struck out par. (1) designation and heading, redesignated subpar. (A) as par. (1) and realigned margin, and struck out subpar. (B), the text of which read as follows: “The fee paid by the depository institution shall be credited to the Bank Insurance Fund if the depository institution becomes a Bank Insurance Fund member, and to the Savings Association Insurance Fund if the depository institution becomes a Savings Association Insurance Fund member.” Former subpar. (C) redesignated par. (3).
Subsec. (d)(2). Pub. L. 109–173, § 8(a)(4), (5)(B), added par. (2) and struck out former par. (2) which related to conversion transactions by insured depository institutions.
Subsec. (d)(3). Pub. L. 109–173, § 8(a)(4), (5)(D), redesignated par. (1)(C) of subsec. (d) as (3), realigned margin, and struck out former par. (3) which related to optional conversions by insured depository institutions subject to special rules on deposit insurance payments.
Subsec. (e)(5)(A). Pub. L. 109–173, § 8(a)(6)(A), substituted “Deposit Insurance Fund” for “Bank Insurance Fund or the Savings Association Insurance Fund”.
Pub. L. 109–171 repealed Pub. L. 104–208, § 2704(d)(14)(E)(i). See 1996 Amendment note below.
Subsec. (e)(6) to (9). Pub. L. 109–173, § 8(a)(6)(B), (C), redesignated pars. (7) to (9) as (6) to (8), respectively, and struck out heading and text of former par. (6). Text read as follows: “During the 5-year period beginning on August 9, 1989—
“(A) no Savings Association Insurance Fund member shall have any liability to the Corporation under this subsection arising out of assistance provided by the Corporation or any loss incurred by the Corporation as a result of the default of a Bank Insurance Fund member which was acquired by such Savings Association Insurance Fund member or any affiliate of such member before August 9, 1989; and
“(B) no Bank Insurance Fund member shall have such liability with respect to assistance provided by or loss incurred by the Corporation as a result of the default of a Savings Association Insurance Fund member which was acquired by such Bank Insurance Fund member or any affiliate of such member before August 9, 1989.”
Pub. L. 109–171 repealed Pub. L. 104–208, § 2704(d)(14)(E)(ii), (iii). See 1996 Amendment note below.
Subsec. (e)(8)(A). Pub. L. 109–351, § 703, which directed general amendment of par. (9)(A) of subsec. (e), was executed by making the amendment to par. (8)(A) to reflect the probable intent of Congress and amendment by 109–173, § 8(a)(6)(B), (C). Prior to amendment, subpar. (A) read as follows: “such institutions are controlled by the same depository institution holding company (including any company required to file reports pursuant to section 1843(f)(6) of this title); or”.
1996—Subsec. (b)(5). Pub. L. 104–208, § 2704(d)(14)(B), which directed substitution of “Deposit Insurance Fund,” for “the Bank Insurance Fund or the Savings Association Insurance Fund;”, was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.
Subsec. (d). Pub. L. 104–208, § 2704(d)(14)(C) and (D), which directed the amendment of subsec. (d) by striking out par. (1) designation and heading, redesignating subpar. (A) of par. (1) as par. (1), realigning margin, and substituting “the reserve ratio of the Deposit Insurance Fund” for “reserve ratios in the Bank Insurance Fund and the Savings Association Insurance Fund”, striking out subpar. (B) of par. (1) and pars. (2) and (3) and adding new par. (2), and redesignating subpar. (C) of par. (1) as par. (3) and realigning margin, was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.
Subsec. (d)(3)(A). Pub. L. 104–208, § 2201(a)(1), substituted “if the transaction is approved by” for “with the prior written approval of”.
Subsec. (d)(3)(C). Pub. L. 104–208, § 2702(i)(1), substituted “Except as provided in subparagraph (K), the adjusted attributable deposit amount” for “The adjusted attributable deposit amount” in introductory provisions.
Subsec. (d)(3)(E). Pub. L. 104–208, § 2201(a)(2), added cl. (iii), redesignated former cls. (ii) and (iii) as (i) and (ii), respectively, and struck out former cls. (i) and (iv), which directed review of any application under the procedures and factors set forth in section 1828(c) of this title and disapproval of any application unless depository institution met all applicable capital requirements, respectively.
Subsec. (d)(3)(G) to (J). Pub. L. 104–208, § 2201(a)(3), (4), redesignated subpars. (H) to (J) as (G) to (I), respectively and struck out former subpar. (G) which related to expedited approval of acquisitions.
Subsec. (d)(3)(K). Pub. L. 104–208, § 2702(i)(2), added subpar. (K).
Subsec. (e)(5)(A). Pub. L. 104–208, § 2704(d)(14)(E)(i), which directed substitution of “Deposit Insurance Fund” for “Bank Insurance Fund or the Savings Association Insurance Fund”, was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.
Subsec. (e)(6) to (9). Pub. L. 104–208, § 2704(d)(14)(E)(ii), (iii), which directed striking out par. (6) and redesignating pars. (7) to (9) as (6) to (8), respectively, was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.
1994—Subsec. (b)(5). Pub. L. 103–325, § 602(a)(2), substituted comma for semicolon at end.
Subsec. (d)(3)(A). Pub. L. 103–325, § 319(b)(1), redesignated cl. (i) formerly entitled “In general” as subpar. (A), inserted comma after “Notwithstanding paragraph (2)(A)”, and struck out heading and text of cl. (ii). Text read as follows: “If, in connection with any transaction referred to in clause (i), the acquiring, assuming, or resulting depository institution is a Bank Insurance Fund member which is a subsidiary of a bank holding company, the prior written approval of the Board shall be required for such transaction in addition to the approval of any agency referred to in clause (i).”
Subsec. (d)(3)(E)(i). Pub. L. 103–325, § 319(b)(2)(A), struck out “(and, in the event the acquiring, assuming, or resulting depository institution is a Bank Insurance Fund member which is a subsidiary of a bank holding company, the Board)” after “responsible agency”.
Subsec. (d)(3)(E)(ii). Pub. L. 103–325, § 319(b)(2)(B), struck out “or Board” after “responsible agency”.
Subsec. (d)(3)(E)(iv). Pub. L. 103–325, § 319(b)(2)(C), struck out “, and the appropriate Federal banking agency for any depository institution holding company,” after “responsible agency”, “each” before “such agency determines”, and “, and any depository institution holding company which controls such institution,” after “resulting depository institution”.
Subsec. (d)(3)(F). Pub. L. 103–325, § 319(b)(3), substituted “A Bank” for “The Board may not approve any transaction under subparagraph (A) in which the acquiring, assuming, or resulting depository institution is a Bank” and “may not be the acquiring, assuming, or resulting depository institution in a transaction under subparagraph (A) unless” for “unless the Board determines that”.
Subsec. (d)(3)(K). Pub. L. 103–325, § 319(b)(4), struck out heading and text of subpar. (K). Text read as follows: “For purposes of this paragraph, the term ‘Board’ (other than when such term appears in connection with a reference to the Board of Directors) means the Board of Governors of the Federal Reserve System.”
Subsec. (e)(4). Pub. L. 103–325, § 602(a)(3), redesignated cls. (i) and (ii) as subpars. (A) and (B), respectively, and realigned margins.
1993—Subsec. (d)(2)(A)(ii). Pub. L. 103–204, § 9(a), substituted “before the later of the end” for “before the end” and inserted before period at end “or the date on which the Savings Association Insurance Fund first meets or exceeds the designated reserve ratio for such fund”.
Subsec. (d)(2)(B)(v). Pub. L. 103–204, § 9(b), added cl. (v).
Subsec. (d)(2)(C)(ii), (iii), (3)(I)(i). Pub. L. 103–204, § 9(c), substituted “moratorium period established by” for “5-year period referred to in”.
1992—Subsec. (d)(3)(B). Pub. L. 102–558, § 303(b)(6)(B), amended directory language of Pub. L. 102–242, § 302(e). See 1991 amendment note below. Pub. L. 102–550, § 1605(a)(5)(B), which contained an identical amendment, was repealed, effective Oct. 28, 1992, by Pub. L. 102–558, § 305, set out as a Repeal of Duplicative Provisions note below.
Subsec. (d)(3)(K). Pub. L. 102–550, § 1607(a), added subpar. (K).
1991—Pub. L. 102–242, § 115(a), amended section catchline.
Subsec. (a). Pub. L. 102–242, § 115(a), added subsec. (a) consisting of pars. (1) to (6) and struck out former subsec. (a) relating to application for insurance, which consisted of pars. (1) to (7).
Subsec. (d)(3). Pub. L. 102–242, § 501(a), amended par. (3) generally, substituting present provisions consisting of subpars. (A) to (J) for provisions related to optional conversion through merger, which consisted of subpars. (A) to (G).
Subsec. (d)(3)(B)(i). Pub. L. 102–242, § 302(e)(1), as amended by Pub. L. 102–558, § 303(b)(6)(B), substituted “deposits” for “average assessment base” and “shall be treated as deposits which are insured by the Savings Association Insurance Fund.” for “shall—
“(I) be subject to assessment at the assessment rate applicable under section 1817 of this title for Savings Association Insurance Fund members;
“(II) not be taken into account for purposes of any assessment under section 1817 of this title for Bank Insurance Fund members; and
“(III) be treated as deposits which are insured by the Savings Association Insurance Fund.”
Subsec. (d)(3)(B)(ii). Pub. L. 102–242, § 302(e)(2), as added by Pub. L. 102–558, § 303(b)(6)(B), substituted “deposits” for “average assessment base” and “shall be treated as deposits which are insured by the Bank Insurance Fund.” for “shall—
“(I) be subject to assessment at the assessment rate applicable under section 1817 of this title for Bank Insurance Fund members;
“(II) not be taken into account for purposes of any assessment under section 1817 of this title for Savings Association Insurance Fund members; and
“(III) be treated as deposits which are insured by the Bank Insurance Fund.”
1989—Pub. L. 101–73, § 201(a), substituted references to insured depository institutions for references to insured banks wherever appearing.
Subsec. (a). Pub. L. 101–73, § 206(a)(1)–(4), inserted heading, designated existing provisions as par. (1), inserted par. (1) heading, and substituted “Any” for “Subject to the provisions of this chapter, any”, inserted “and State savings association” after “any State nonmember bank” and after “such State nonmember bank”, “or savings association” after “such bank”, and “or savings association, and in the case of an application by a State savings association, the Corporation shall notify the Director of the Office of Thrift Supervision of the Corporation’s approval of such application” after “books of the bank”, and added pars. (2) to (7).
Subsec. (b)(4). Pub. L. 101–73, § 206(a)(5), inserted “and fitness” after “character”.
Subsec. (b)(5) to (8). Pub. L. 101–73, § 206(a)(6), added par. (5) and redesignated former pars. (5) to (7) as (6) to (8), respectively.
Subsecs. (d), (e). Pub. L. 101–73, § 206(a)(7), added subsecs. (d) and (e).
1982—Subsec. (a). Pub. L. 97–320 inserted provision relating to the determination before the application of an industrial bank or similar institution is approved that it is chartered and operating under provisions substantially comparable to those applicable to banks operating in the same State.
1978—Pub. L. 95–369 designated existing provision as subsec. (a) and added subsecs. (b) and (c).
