Page:United States Statutes at Large Volume 103 Part 1.djvu/343

 PUBLIC LAW 101-73—AUG. 9, 1989 103 STAT. 315 issuance or levy of any execution or other legal process therefor, and with or without consideration, any such penalty or recovery be compromised, remitted, or mitigated in whole or part. The penalties authorized under this subsection are in addition to all remedies and sanctions otherwise available. "(e) REDUCTION OR SUSPENSION. —Whenever the Director deems it advisable in order to enable a savings association to meet withdraw- als or to pay obligations, the Director may, to such extent and subject to such conditions as the Director may prescribe, permit the savings association to reduce its liquidity below the minimum amount. Whenever the Director determines that conditions of na- tional emergency or unusual economic stress exist, the Director may suspend any part or all of the liquidity requirements hereunder for such period as the Director may prescribe. Any such suspension, unless sooner terminated by its terms or by the Director, shall terminate at the expiration of 90 days next after its commencement. The preceding sentence does not prevent the Director from again exercising, before, at, or after any such termination, the authority conferred by this subsection. "(f) REGULATING AUTHORITY.— The Director is authorized to issue such regulations, including definitions of terms used in this section, to make such examinations, and to conduct such investigations as the Director deems necessary or appropriate to effectuate the pur- poses of this section. The reasonable cost of any such examination or investigation, as determined by the Director, shall be paid by the association. "SEC. 7. APPLICABILITY. "The provisions of this Act shall apply to the United States and to Puerto Rico, Guam, and the Virgin Islands. "SEC. 8. DISTRICT ASSOCIATIONS. "(a) IN GENERAL.— The Director shall, with respect to all incor- porated or unincorporated building, building or loan, building and loan, or homestead associations, and similar institutions, of or transacting or doing business in the District of Columbia, or maintaining any office in the District of Columbia (other than Federal savings associations), have the same powers and functions as to examination, operation, and regulation as the Director has with respect to Federal savings associations. "(b) ADDITIONAL POWERS.— Any such association or institution incorporated under the laws of, or organized in, the District of Columbia shall have in addition to any existing statutory authority such statutory authority as is vested in Federal savings associations. "(c) CHARTER AMENDMENTS. — Charters, certificates of incorpora- tion, articles of incorporation, constitutions, bylaws, or other organic documents of associations or institutions referred to in subsection (b) of this section may, without regard to anything contained therein or otherwise, be amended in such manner and to such extent and upon such votes if any as the Director may by regulation or otherwise provide. "(d) LIMITATION. — Nothing in this section shall cause, or permit the Director to cause. District of Columbia associations to be or become Federal savings associations, or require the Director to impose on District of Columbia associations the same regulations as are imposed on Federal savings associations. Territories, U.S. 12 USC 1466. District of Columbia. 12 USC 1466a.

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