Page:United States Statutes at Large Volume 103 Part 1.djvu/282

 103 STAT. 254 PUBLIC LAW 101-73—AUG. 9, 1989 without fiscal year limitation, such sums as may be necessary to carry out this section. "(d) LEGAL PROCEEDINGS. —Any judgment resulting from a proceeding to which the Federal Savings and Loan Insurance Cor- poration was a party prior to its dissolution or which is initiated against the Corporation with respect to the Federal Savings and Loan Insurance Corporation or with respect to the FSLIC Resolution Fund shall be limited to the assets of the FSLIC Resolution Fund. " (e) TRANSFER OF NET PROCEEDS FROM SALE OF RTC ASSETS.—The FSLIC Resolution Fund shall transfer to the Resolution Funding Corporation any net proceeds from the sale of assets acquired from the Resolution Trust Corporation upon the termination of such Corporation pursuant to section 21A of the Federal Home Loan Bank Act. " (f) DISSOLUTION. —The FSLIC Resolution Fund shall be dissolved upon satisfaction of all debts and liabilities and sale of all assets. Upon dissolution any remaining funds shall be paid into the Treas- ury. Any administrative facilities and supplies, including offices and office supplies, shall be transferred to the Corporation for use by and to be held as assets of the Savings Association Insurance Fund.". SEC. 216. AMENDMENTS TO SECTION 12. ? Section 12 of the Federal Deposit Insurance Act (12 U.S.C. 1822) is amended— (1) by striking out "closed bank" each place it appears and inserting in lieu thereof "depository institution in default"; (2) by striking out subsection (a) and inserting the following: "(a) BOND NOT REQUIRED; AGENTS; FEE. — The Corporation as re- ceiver of an insured depository institution or branch of a foreign bank shall not be required to furnish bond and may appoint an agent or agents to assist it in its duties as such receiver. All fees, compensation, and expenses of liquidation and administration shall be fixed by the Corporation, and may be paid by it out of funds coming into its possession as such receiver."; and (3) in subsection (d)— (A) by striking out "as a stockholder of the depository institution in default, or of any liability of such depositor"; and (B) by striking out "such bank" and inserting in lieu thereof "such depository institution". SEC. 217. AMENDMENTS TO SECTION 13. Section 13 of the Federal Deposit Insurance Act (12 U.S.C. 1823) is amended— (1) by striking out subsection (a) and inserting the following: "(a) INVESTMENT OF CORPORATION'S FUNDS.— "(1) AUTHORITY.— Funds held in the Bank Insurance Fund, the Savings Association Insurance Fund, or the FSLIC Resolu- tion Fund, that are not otherwise employed shall be invested in obligations of the United States or in obligations guaranteed as -, to principal and interest by the United States. "(2) LIMITATION. —The Corporation shall not sell or purchase any obligations described in paragraph (1) for its own account, at any one time aggregating in excess of $100,000, without the approval of the Secretary of the Treasury. The Secretary may approve a transaction or class of transactions subject to the

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