Page:United States Statutes at Large Volume 103 Part 1.djvu/243

 PUBLIC LAW 101-73 —AUG. 9, 1989 103 STAT. 215 extent that the Corporation may provide for transfer of such pro rata share in cases of merger or consolidation, transfer of bulk assets or assumption of liabilities, and similar transactions, as defined by the Corporation for purposes of this paragraph. "(5) PRO RATA DISTRIBUTION ON TERMINATION OF INSURED STATUS.—I f^ "(A) the status of any savings association as an insured depository institution is terminated pursuant to any provi- sion of section 8 or the insurance of accounts of any savings ^ association institution is otherwise terminated; "(B) a receiver or other legal custodian is appointed for ^ the purpose of liquidation or winding up the affairs of any savings association; or "(C) the Corporation makes a determination that for the purposes of this subsection any savings association has otherwise gone into liquidation, the Corporation shall pay in cash to such institution its pro rata share of the secondary reserve, in accordance with such terms and conditions as the Corporation may prescribe, or, at the option of the Corporation, the Corporation may apply the whole or any part of the amount which would otherwise be paid in cash toward the payment of any indebtedness or obligation, whether matured or not, of such institution to the Corporation, existing or arising before such payment in CEish. Such payment or such application need not be made to the extent that the provisions of the exception in paragraph (4) are applicable. "(6) STATUTORILY PRESCRIBED AMOUNT DEFINED.—For purposes of this subsection, the term 'statutorily prescribed amount' means, with respect to any calendar year which ends after the date of the enactment of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989— ^ "(A) $823,705,000, minus "(B) the sum of— "(i) the Eiggregate amount of offsets made before such date of enactment by all insured institutions under section 404(e)(2) of the National Housing Act (as in effect before such date of enactment); and "(ii) the aggregate amount of offsets made by all savings associations under this subsection before the beginning of such calendar year. " (7) SAVINGS ASSOCIATION'S PRO RATA AMOUNT.— For purposes of this subsection, any savings association's pro rata share of the statutorily prescribed amount is the percentage which is equal to such association's share of the secondary reserve as deter- mined under section 404(e) of the National Housing Act on the day before the date on which Federal Savings and Loan Insur- ance Corporation ceased to recognize the secondary reserve (as such Act was in effect on the day before such date). "(8) YEAR OF ENACTMENT RULE.— With respect to the calendar year in which the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 is enacted, the Corporation shall make such adjustments as may be necessary— "(A) in the computation of the statutorily prescribed amount which shall be applicable for the remainder of such calendar year after taking into account the aggregate amount of offsets by all insured institutions under section 404(e)(2) of the National Housing Act (as in effect before the

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