Page:United States Statutes at Large Volume 101 Part 1.djvu/598

 101 STAT. 568

PUBLIC LAW 100-86—AUG. 10, 1987

"(A) engage in any activity or render any service for or on •j^* behalf of an insured institution subsidiary for the purpose ' or with the effect of evading any law or regulation applicable to such insured institution; "(B) commence any business activity, other than the activities described in paragraph (2), after the date of the enactment of the Competitive Equality Amendments of 1987; or "(C) continue any business activity, other than the activi^.,. ties described in paragraph (2), after the later of^ "(i) the end of the 2-year period beginning on the date jj, of the enactment of the Competitive Equality Amend3yi * ments of 1987; or '[n:;, "(ii) the date on which such company received approval under subsection (e) of this section to become a savings and loan holding company, "(2) EXEMPT ACTIVITIES.—The prohibitions of subparagraphs ,)ti),? (B) and (C) of paragraph (1) shall not apply to the following business activities of any savings and loan holding company or ^ •; /' any subsidiary (of such company) which is not an insured institution: "(A) Furnishing or performing management services for an insured institution subsidiary of such company. "(B) Conducting an insurance agency or escrow business. "(C) Holding, managing, or liquidating assets owned or ' " acquired from an insured institution subsidiary of such company. "(D) Holding or managing properties used or occupied by an insured institution subsidiary of such company. "(E) Acting as trustee under deed of trust. li ' "(F) Any other activity— "(i) which the Board of Governors of the Federal ', Reserve System, by regulation, has determined to be permissible for bank holding companies under section 12 USC 1843. v.; 4(c) of the Bank Holding Company Act of 1956, unless the Corporation, by regulation, prohibits or limits any .?. such activity for savings and loan holding companies; .r1 or "(ii) in which multiple savings and loan holding ..» =,,. companies were authorized (by regulation) to directly engage on March 5, 1987. "(3) CERTAIN LIMITATIONS ON ACTIVITIES NOT APPLICABLE TO CERTAIN HOLDING COMPANIES.—Notwithstanding paragraphs (4)

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Post, p. 613.

and (6) of this subsection, the limitations contained in subparagraphs (B) and (C) of paragraph (1) shall not apply to any savings and loan holding company (or any subsidiary of such company) which controls— "(A) only 1 insured institution, if the insured institution subsidiary of such company is a qualified thrift lender (as determined under subsection (o)); or "(B) more than 1 insured institution, if— .n;>? ^ "(i) all, or all but 1, of the insured institution subsidi• ' aries of such company were acquired pursuant to an • acquisition under subsection (m) of this section or section 406(f); and

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