Page:United States Statutes at Large Volume 103 Part 1.djvu/242

 103 STAT. 214 PUBLIC LAW 101-73—AUG. 9, 1989 enactment of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, including— 'if "(i) any Federal savings bank chartered pursuant to '.;.'••' section 5(o) of the Home Owners'Loan Act; and ^r> "(ii) any cooperative bank, •"'' shall be a Bank Insurance Fund member as of such date of enactment. Hi. "(B) SAVINGS ASSOCIATION INSURANCE FUND.—Any savings association which is an insured depository institution by t^ > operation of section 4(a)(2) shall be a Savings Association Insurance Fund member as of the date of the enactment of the Financial Institutions Reform, Recovery, and Enforce- ment Act of 1989. "(4) BANK INSURANCE FUND MEMBER.— The term 'Bank Insur- ance Fund member' means any depository institution the de- posits of which are insured by the Bank Insurance Fund. "(5) SAVINGS ASSOCIATION INSURANCE FUND MEMBER.— The term 'Savings Association Insurance Fund member' means any depository institution the deposits of which are insured by the Savings Association Insurance Fund. "(6) BANK INSURANCE FUND RESERVE RATIO.—The term 'Bank Insurance Fund reserve ratio' means the ratio of the net worth of the Bank Insurance Fund to the value of the aggregate estimated insured deposits held in all Bank Insurance Fund members. " (7) SAVINGS ASSOCIATION INSURANCE FUND RESERVE RATIO. — The term 'Savings Association Insurance Fund reserve ratio' means the ratio of the value of the net worth of the Savings - Association Insurance Fund to the value of the aggregate esti- mated insured deposits held in all Savings Association Insur- ance Fund members."; (15) by adding after the subsection added by paragraph (14) of this section the following new subsections: "(m) SECONDARY RESERVE OFFSETS AGAINST PREMIUMS. — " (1) OFFSETS IN CALENDAR YEARS BEGINNING BEFORE 1993.— Subject to the maximum amount limitation contained in para- graph (2) and notwithstanding any other provision of law, any insured savings association may offset such association's pro rata share of the statutorily prescribed amount against any premium assessed against such association under subsection (b) of this section for any calendar year beginning before 1993. "(2) ANNUAL MAXIMUM AMOUNT LIMITATION. —" The amount of any offset allowed for any savings association under paragraph (1) for any calendar year beginning before 1993 shall not exceed an amount which is equal to 20 percent of such association's pro rata share of the statutorily prescribed amount (as computed for such calendar year). " (3) OFFSETS IN CALENDAR YEARS BEGINNING AFTER 1992. — Notwithstanding any other provision of law, a savings associa- tion may offset such association's pro rata share of the statu- torily prescribed amount against any premium assessed against such association under subsection (b) for any calendar year beginning after 1992. "(4) TRANSFERABILITY.— No right, title, or interest of any in- sured depository institution in or with respect to its pro rata share of the secondary reserve shall be assignable or transfer- able whether by operation of law or otherwise, except to the

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