Page:United States Statutes at Large Volume 103 Part 1.djvu/371

 PUBLIC LAW 101-73—AUG. 9, 1989 103 STAT. 343 " (2) ADDITIONAL RESTRICTIONS AUTHORIZED. — The Director may impose such additional restrictions on loans or extensions of credit to any director or executive officer of any savings association, or any person who directly or indirectly owns, controls, or has the power to vote more than 10 percent of any class of voting securities of a savings association, as the Director determines to be necessary to protect the safety and soundness of the savings association. "(c) ADMINISTRATIVE ENFORCEMENT. —The Director may take enforcement action with respect to violations of this section pursu- ant to section 8 or 18(j) of the Federal Deposit Insurance Act, as appropriate. "SEC. 12. ADVERTISING. 12 USC 1468a. "No savings association shall carry on any sale, plan, or practices, or any advertising, in violation of regulations promulgated by the Director. "SEC. 13. POWERS OF EXAMINERS. 12 USC 1468b. "For the purposes of this Act, examiners appointed by the Direc- tor shall— "(1) be subject to the same requirements, responsibilities, and penalties as are applicable to examiners under the Federal Reserve Act and title LXII of the Revised Statutes; and "(2) have, in the exercise of functions under this Act, the same powers and privileges as are vested in such examiners by law. "SEC. 14. SEPARABILITY PROVISION. "If any provision of this Act, or the application thereof to any person or circumstances, is held invalid, the remainder of the Act, and the application of such provision to other persons or cir- cumstances, shall not be affected thereby.". SEC. 302. SAVINGS PROVISIONS. Notwithstanding the amendment made by this title to section 10 of the Home Owners' Loan Act and the repeal of section 416 of the National Housing Act— (1) any plan approved by the Federal Home Loan Bank Board under such section 10 for any Federal savings association shall continue in effect as long as such association adheres to the plan and continues to submit to the Director of the Office of Thrift Supervision regular and complete reports on the association's progress in meeting the association's goals under the plan; and (2) any plan approved by the Federal Savings and Loan Insurance Corporation under such section 416 for any State savings association shall continue in effect as long as such association adheres to the plan and continues to submit to the Federal Deposit Insurance Corporation regular and complete reports on the association's progress in meeting the savings association's goals under the plan. SEC. 303. QUALIFIED THRIFT LENDER TEST. 12 USC 1467a. (a) IN GENERAL.— Section 10(m) of the Home Owners' Loan Act is amended to read as follows: "(m) QUALIFIED THRIFT LENDER TEST.— "(1) IN GENERAL.— Except as provided in paragraphs (2) and (7), any savings association is a qualified thrift lender if— 12 USC 1468c. 12 USC 1467a note.

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