Page:United States Statutes at Large Volume 101 Part 1.djvu/654

 101 STAT. 624

PUBLIC LAW 100-86—AUG. 10, 1987 "(A) ACQUISITION OF INSURED BANKS IN DANGER OF CLOSING.—

One or more out-of-State banks or out-of-State holding companies may acquire and retain all or part of the shares or assets of, or otherwise acquire and retain— "(i) an insured bank in danger of closing which has total assets of $500,000,000 or more; or "(ii) 2 or more affiliated insured banks in danger of ^^. closing which have aggregate total assets of $500,000,000 or ^ r*6k; more, if the aggregate total assets of such banks is equal to or greater than 33 percent of the aggregate total assets of all affiliated insured banks.

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"(B) ACQUISITION OF A HOLDING COMPANY OR OTHER BANK

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AFFILIATE.—If one or more out-of-State banks or out-of-State holding companies acquire 1 or more affiliated insured banks under subparagraph (A) the aggregate total assets of which is equal to or greater than 33 percent of the aggregate total assets of all affiliated insured banks, any such out-of-State bank or out-of-State holding company may also, as part of the same ^ ' transaction, acquire and retain the shares or assets of, or otherwise acquire and retain— "(i) the holding company which controls the affiliated insured banks so acquired; or "(ii) any other affiliated insured bank.

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"(C) REQUEST FOR ASSISTANCE BY CORPORATE BOARD OF DIREC-

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TORS.—The Corporation may assist an acquisition or merger authorized under subparagraph (A) only if the board of directors or trustees of each insured bank in danger of closing which is being acquired has requested in writing that the Corporation assist the acquisition or merger. "(D) CERTAIN ACQUISITIONS AUTHORIZED AFTER ASSISTANCE IS

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PROVIDED.—Notwithstanding paragraph (1), if— "(i) a t any time after the date of the enactment of the Financial Institutions Emergency Acquisitions Amendments of 1987, the Corporation provides any assistance .. under subsection (c) to an insured bank; and "* "(ii) at the time such assistance is granted, the insured bank, the holding company which controls the insured bank (if any), or any affiliated insured bank is eligible to be acquired by an out-of-State bank or out-of-State holding company under this paragraph, the insured bank, the holding company, and such other affiliated insured bank shall remain eligible, subject to such terms and conditions as the Corporation (in the Corporation's discretion) may impose, to be acquired by an out-of-State bank or outof-State holding company under this paragraph as long as any portion of such assistance remains outstanding. "(E) STATE BANK SUPERVISOR APPROVAL.—The Corporation

may take no final action in connection with any acquisition under this paragraph unless the State bank supervisor of the State in which the bank in danger of closing is located approves the acquisition. "(F) OTHER REQUIREMENTS NOT AFFECTED.—This paragraph

does not affect any other requirement under Federal or State law for regulatory approval of an acquisition under this paragraph. "(G) ACQUISITION MAY BE CONDITIONED ON RECEIPT OF CONSIDERATION FOR CORPORATION'S ASSISTANCE.—Any acquisition de-

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