Page:United States Statutes at Large Volume 103 Part 1.djvu/293

 PUBLIC LAW 101-73—AUG. 9, 1989 103 STAT. 265 tion or oversight over the affairs or operations of the Corpora- tion. " (d) AUDIT.— "(1) AUDIT REQUIRED. —The Comptroller General shall audit annually the financial transactions of the Corporation, the Bank Insurance Fund, the Savings Association Insurance Fund, and the FSLIC Resolution Fund in accordance with generally accepted government auditing standards. "(2) ACCESS TO BOOKS AND RECORDS. — Al l books, records, ac- counts, reports, files, and property belonging to or used by the Corporation, the Bank Insurance Fund, the Savings Association Insurance Fund, and the FSLIC Resolution Fund, or by an independent certified public accountant retained to audit the Fund's financial statements, shall be made available to the Comptroller General.". (b) SPECIFIC REPORTS.— (1) RISK-BASED ASSESSMENTS.— 12 USC 1827 (A) REPORT REQUIRED. —The Federal Deposit Insurance note. Corporation shall study the establishment of premium assessment categories related to types of risk to the insur- ance funds and shall report its recommendations to the Congress not later than January 1, 1991. If the Corporation should recommend the establishment of such a risk-based assessment plan, it shall also provide a timetable and plan for implementation. (B) CONGRESSIONAL RESPONSE. —Not later than 180 days after receipt by the Congress of the report required under subparagraph (A) and the accompanying plan and time- table, the Congress shall make a recommendation to the Chairperson of the Board of Directors regarding the disposi- " tion of such plan and timetable. (2) STUDY OF DEPOSIT INSURANCE PASS-THROUGH. — Not later than 6 months after the date of enactment of this Act, the Federal Deposit Insurance Corporation shall transmit to the Congress a report containing its findings and recommendations relating to the pass-through of deposit insurance either to individual investors in unit investment trust funds or to individ- ual participants in pension or to profit sharing plans qualified under section 401 of the Internal Revenue Code of 1986. Such report shall also contain the Corporation's assessment of the potential effects of broadening deposit insurance coverage on the safety of the insurance funds and the operation of capital markets. (3) REPORT ON DIRECTORS' AND OFFICERS' LIABILTTY INSUR- ANCE. — (A) STUDY. —The Federal Deposit Insurance Corporation shall, together with the Secretary of the Treasury and the Attorney General, conduct a comprehensive study of direc- tors' and officers' liability insurance and depository institu- tion bonds, and the availability of such insurance for directors and officers of insured depository institutions. The study shall include— (i) consideration of State laws limiting liability for directors and officers; (ii) the effect of contractual provisions limiting insur- ^.,, J 4 ance coverage when an institution is placed in receiver- ship or conservatorship;

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