Page:United States Statutes at Large Volume 103 Part 1.djvu/278

 103 STAT. 250 PUBLIC LAW 101-73—AUG. 9, 1989 Wages. Securities. Corporation shall cause capital stock of a bridge bank to be issued and offered for sale in such amounts and on such terms and conditions as the Corporation may, in its discre- tion, determine. "(6) No FEDERAL STATUS. — "(A) AGENCY STATUS. —A bridge bank is not an agency, establishment, or instrumentality of the United States. " (B) EMPLOYEE STATUS. — Representatives for purposes of paragraph (I)(B), interim directors, directors, officers, employees, or agents of a bridge bank are jiot, solely by virtue of service in any such capacity, officers or employees of the United States. Any employee of the Corporation or of the Corporation as a representative for purposes of para- graph (I)(B), interim director, director, officer, employee, or agent of a bridge bank shall not— ri; "(i) solely by virtue of service in any such capacity lose any existing status as an officer or employee of the . . United States for purposes of title 5, United States Code, or any other provision of law, or "(ii) receive any salary or benefits for service in any such capacity with respect to a bridge bank in addition to such salary or benefits as are obtained through employment with the Corporation or such Federal instrumentality. "(7) ASSISTANCE AUTHORIZED. — The Corporation may, in its discretion, provide assistance under section 13(c) to facilitate any transaction described in clause (i), (ii), or (iii) of paragraph (lOXA) with respect to any bridge bank in the same manner and to the same extent as such assistance may be provided under such section with respect to an insured bank in default, or to facilitate a bridge bank's acquisition of any assets or the assumption of any liabilities of an insured bank in default. . "(8) ACQUISITION.— "(A) IN GENERAL.—The responsible agency shall notify the Attorney General of any transaction involving the . merger or sale of a bridge bank requiring approval under section 18(c) and if a report on competitive factors is re- quested within 10 days, such transaction may not be con- summated before the 5th calendar day after the date of approval by the responsible agency with respect thereto. If the responsible agency has found that it must act imme- diately to prevent the probable failure of 1 of the banks involved, the preceding sentence does not apply and the transaction may be consummated immediately upon ap- proval by the agency. "(B) BY OUT-OF-STATE HOLDING COMPANY. — Any depository institution, including an out-of-State depository institution, or any out-of-State depository institution holding company may acquire and retain the capital stock or assets of, or otherwise acquire and retain a bridge bank if the bridge bank at any time had assets aggregating $500,000,000 or more, as determined by the Corporation on the basis of the bridge bank's reports of condition or on the basis of the last available reports of condition of any insured bank in de- fault, which institution has been acquired, or whose assets have been acquired, by the bridge bank. The acquiring
 * any Federal instrumentality who serves at the request of

�