Page:United States Statutes at Large Volume 103 Part 1.djvu/329

 PUBLIC LAW 101-73-AUG. 9, 1989 103 STAT. 301 affirmative vote of three-fourths of the Board of Directors. The Board of Directors shall provide the State supervisor, as soon as practicable, with a written certification of its determination. ^ "(3) A Federal savings bank chartered under this subsection shall have the same authority with respect to investments, operations, and activities, and shall be subject to the same restrictions, includ- ing those applicable to branching and discrimination, as would apply to it if it were chartered as a Federal savings bank under any other provision of this Act. "(p) CONVERSIONS.— (1) Notwithstanding any other provision of law, and consistent with the purposes of this Act, the Director may authorize (or in the case of a Federal savings association, require) the conversion of any mutual savings association or Federal mutual savings bank that is insured by the Corporation into a Federal stock savings association or Federal stock savings bank, or charter a Federal stock savings association or Federal stock savings bank to acquire the assets of, or merge with such a mutual institution under the regulations of the Director. "(2) Authorizations under this subsection may be made only— "(A) if the Director has determined that severe financial conditions exist which threaten the stability of an association and that such authorization is likely to improve the financial condition of the association, "(B) when the Corporation has contracted to provide assist- v ance to such association under section 13 of the Federal Deposit Insurance Act, or "(C) to assist an institution in receivership. "(3) A Federal savings bank chartered under this subsection shall Securities, have the same authority with respect to investments, operations and activities, and shall be subject to the same restrictions, including those applicable to branching and discrimination, as would apply to it if it were chartered as a Federal savings bank under any other provision of this Act, and may engage in any investment, activity, or operation that the institution it acquired was engaged in if that institution was a Federal savings bank, or would have been au- thorized to engage in had that institution converted to a Federal charter. "(q) TYING ARRANGEMENTS. —(1) A savings association may not in any manner extend credit, lease, or sell property of any kind, or furnish any service, or fix or vary the consideration for any of the foregoing, on the condition or requirement— "(A) that the customer shall obtain additional credit, prop- erty, or service from such savings association, or from any service corporation or affiliate of such association, other than a loan, discount, deposit, or trust service; "(B) that the customer provide additional credit, property, or service to such association, or to any service corporation or affiliate of such association, other than those related to and usually provided in connection with a similar loan, discount, ^ deposit, or trust service; and "(C) that the customer shall not obtain some other credit, property, or service from a competitor of such association, or from a competitor of any service corporation or affiliate of such ^ association, other than a condition or requirement that such association shall reasonably impose in connection with credit transactions to assure the soundness of credit.

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