Page:United States Statutes at Large Volume 101 Part 1.djvu/604

 101 STAT. 574 Armed Forces.

PUBLIC LAW 100-86—AUG. 10, 1987 "(ii) at least 90 percent of the customers of the savings and loan holding company and its subsidiaries and affiliates are active or former officers in the United States military services or the widows, widowers, divorced spouses, or current or former dependents of such officers.". (2) TECHNICAL AMENDMENT.—Section 408(d) of the National Housing Act (12 U.S.C. 1730a(d)) is amended by striking out "No savings and loan" and inserting in lieu thereof "Except as provided in subsection (p), no savings and loan". (e) TYING RESTRICTIONS.—Section 408 of the National Housing Act

(12 U.S.C. 1730a) is amended by inserting after subsection (p) (as added by subsection (d) of this section) the following new subsection: "(q) TYING RESTRICTIONS.— "(1) STATE CHARTERED INSURED INSTITUTION SUBSIDIARIES.—A

State chartered insured institution subsidiary of a savings and loan holding company shall be subject to section 5(q) of the Home Owners' Loan Act of 1933, and regulations prescribed under such subsection, in the same manner and to the same extent as an association (as defined in section 2(d) of such Act). "(2) HOLDING COMPANIES AND CERTAIN AFFILIATES.—A savings and loan holding company and any of its affiliates (other than an insured institution) shall be subject to section 5(q) of the Home Owners' Loan Act of 1933, and regulations prescribed under such subsection, in connection with transactions involving the products or services of such company or affiliate and those of an affiliated insured institution as if such company or affiliate were an association (as defined in section 2(d) of such Act).".

12 USC 1464. 12 USC 1462.

' ' •'

(f) SAVINGS BANK AS INSURED INSTITUTION.—

(1) IN GENERAL.—Section 408(n) of the National Housing Act (12 U.S.C. 1730a) is amended to read as follows: "(n) TREATMENT OF F D I C INSURED STATE SAVINGS BANKS AND COOPERATIVE BANKS AS INSURED INSTITUTIONS.—

Ante, p. 563.

1 ^ il-f '^

"(1) IN GENERAL.—Notwithstanding any other provision of law, a savings bank (as defined in section 3(g) of the Federal Deposit Insurance Act) and a cooperative bank that is an insured bank (as defined in section 3(h) of the Federal Deposit Insurance Act) upon application shall be deemed to be an insured institution for the purpose of this section, if the Corporation determines that such bank is a qualified thrift lender (as determined under subsection (o)). "(2) FAILURE TO MAINTAIN QTL STATUS.—If any savings bank which is deemed to be an insured institution under paragraph (1) subsequently fails to maintain its status as a qualified thrift lender, as determined by the Corporation, such bank may not thereafter be a qualified thrift lender for a period of 5 years.". (2)

12 USC 1730a.

TECHNICAL

AND

CONFORMING

AMENDMENT.—Section

408(a)(1)(A) of the National Housing Act (12 U.S.C. 1730a(a)(l)(A)) is amended by adding before the semicolon at the end thereof the following: "and a savings bank which is deemed by the Corporation to be an insured institution under subsection (n)". (g) THRIFT ACQUISITIONS.—Section 408(e)(3) of the National Housing Act (12 U.S.C. 1730(e)) is amended to read as follows: "(3) INTERSTATE ACQUISITIONS.—No acquisition shall be approved by the Corporation under this subsection which will result in the

�