Page:United States Statutes at Large Volume 101 Part 1.djvu/603

 PUBLIC LAW 100-86—AUG. 10, 1987

101 STAT. 573

thrift lender during the 10-year period beginning on January 1, 1988, if the requirements of paragraph (2)(B) are met by such institution.". (2) EFFECTIVE DATE.—The amendment made by paragraph (1) shall take effect on January 1, 1988. (3) REGULATIONS.—The Federal Savings and Loan Insurance ^ Corporation shall prescribe, under the authority of section 408(h)(1) of the National Housing Act, regulations to carry out the provisions of the amendment made by paragraph (1) before January 1, 1988.

12 USC 1730a note. 12 USC 1730a note.

12 USC 1730a.

(d) TRANSACTIONS BETWEEN INSURED INSTITUTION SUBSIDIARIES AND CERTAIN AFFILIATES.—

(1) IN GENERAL.—Section 408 of the National Housing Act (12 U.S.C. 1730a(d)) is amended by adding after subsection (o) (as added by subsection (c) of this section) the following new subsection: "(p) RESTRICTIONS ON ACTIVITIES OF CERTAIN INSURED INSTITUTION SUBSIDIARIES.— "(1) TRANSACTIONS WITH CERTAIN AFFILIATES.—

ii)A,
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"(A) IN GENERAL.—Transactions between any insured i. ii institution subsidiary of a savings and loan holding company and any affiliate (of such insured institution subsidiary) which is engaged only in business activities described in subsection (c)(2)(F)(i)— "(i) shall not be subject to subsection (d); and "(ii) shall be subject to the limitations and prohibitions specified in sections 23A and 23B of the Federal Reserve Act in the same manner and to the same 12 USC 371c; extent as if such insured institution were a member ante, p. 564. bank. "(B) REGULATIONS.—The Corporation may prescribe regulations for the purpose of defining and clarifying the applicability of the limitations and prohibitions described in subparagraph (A). "(2) CROSS-MARKETING PRACTICES.—

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"(A) IN GENERAL.—Notwithstanding any other provision of this section, an insured institution subsidiary of a diversified savings and loan holding company may not offer or market products or services of an affiliate that are not permissible for bank holding companies to provide under section 4(c)(8) of the Bank Holding Company Act of 1956 or 12 USC 1843. permit its products or services to be offered or marketed by or through an affiliate (other than an affiliate that engages only in activities permissible for bank holding companies under section 4(c) of that Act), unless such products or services were being so offered or marketed as of March 5, 1987, and then only in the same manner in which they were being offered or marketed as of that date. "(B) EXCEPTION.—This paragraph shall not apply so as to prohibit an insured institution subsidiary of a diversified savings and loan holding company from offering or marketing the products or services of an affiliate or from permitting its products or services to be offered or marketed by or through an affiliate if— "(i) the savings and loan holding company is a reciprocal interinsurance exchange that acquired control of the insured institution before January 1, 1984; and

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