Page:United States Statutes at Large Volume 103 Part 1.djvu/363

 PUBLIC LAW 101-73—AUG. 9, 1989 103 STAT. 335 "(5) LIMITATION ON TREATMENT OF CERTAIN ASSETS AS THRIFT INVESTMENTS. —The aggregate amount of the assets described in clauses (iii) and (iv) of paragraph (4)(B) which may be taken into account in determining the amount of the qualified thrift ^ investments of any savings association shall not exceed the amount which is equal to 10 percent of the tangible assets of such association. "(6) TRANSITIONAL RULE FOR CERTAIN SAVINGS ASSOCIATIONS.— "(A) IN GENERAL. — If any Federal savings association in existence as a Federal savings association on the date of enactment of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989— "(i) that was chartered as a savings bank or a co- operative bank under State law before October 15, 1982; or "(ii) that acquired its principal assets from an association that was chartered before October 15, 1982, as a savings bank or a cooperative bank under State law, meets the requirements of subparagraph (B), such savings association shall be treated as a qualified thrift lender during the 6-year period beginning on August 10, 1989. " (B) SUBPARAGRAPH (B) REQUIREMENTS. —A savings association meets the requirements of this subparagraph if, in the determination of the Director— "(i) the actual thrift investment percentage of such ' association does not, after the date of enactment of the Financial Institutions Reform, Recovery, and Enforce- ment Act of 1989, decrease below the actual thrift investment percentage of such association on July 15, 1989; and "(ii) the amount by which— "(I) the actual thrift investment percentage of such association at the end of each period described in the following table, exceeds "(II) the actual thrift investment percentage of such association on July 15, 1989, is equal to or greater than the applicable percentage (as determined under the following table) of the amount by which 70 percent exceeds the actual thrift investment percentage of such association on such date of enact- ment: "For the following The applicable peried: percentage is: Prior to July 1, 1991 25 percent July 1, 1991-December 31, 1992 50 percent January 1, 1993-June 30, 1994 75 percent Thereafter 100 percent "(C) For purposes of this paragraph, the actual thrift investment percenteige of an association on July 15, 1989, shall be determined by applying the definition of 'actual ' thrift investment percentage that takes effect on July 1, 1991. "(n) TYING RESTRICTIONS.— A savings and loan holding company and any of its affiliates shall be subject to section 5(q) and regula- tions prescribed under such section, in connection with transactions involving the products or services of such company or affiliate and those of an affiliated savings association as if such company or affiliate were a savings association. "(o) MUTUAL HOLDING COMPANIES. — "(1) IN GENERAL. — A savings association operating in mutual form may reorganize so as to become a holding company by—

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