Page:United States Statutes at Large Volume 103 Part 1.djvu/374

 103 STAT. 346 PUBLIC LAW 101-73—AUG. 9, 1989 "(E) DEPOSIT INSURANCE ASSESSMENTS. —Any bank char- tered as a result of the requirements of this section shall be obligated until December 31, 1993, to pay to the Savings Association Insurance Fund the assessments assessed on savings associations under the Federal Deposit Insurance Act. Such association shall also be assessed, on the date of its change of status from a Savings Association Insurance Fund member, the exit fee and entrance fee provided in section 5(d) of the Federal Deposit Insurance Act. Such institution shall not be obligated to pay the assessments assessed on banks under the Federal Deposit Insurance Act until— t "(i) December 31, 1993, or .;. - "(ii) the institution's change of status from a Savings Association Insurance Fund member to a Bank Insur- ance Fund member, whichever is later. " (F) EXEMPTION FOR SPECIALIZED SAVINGS ASSOCIATION SERVING TRANSIENT MILITARY PERSONNEL. —Subparagraph (A) shall not apply to a savings association subsidiary of a savings and loan holding company if— "(i) the savings and loan holding company is a recip- rocal interinsurance exchange that acquired control of the insured institution before January 1, 1984; and "(ii) at least 90 percent of the customers of the savings and loan holding company and its subsidiaries and affiliates are active or former officers in the United States military services or the widows, widowers, di- vorced spouses, or current or former dependents of such officers. "(G) EXEMPTION FOR CERTAIN FEDERAL SAVINGS ASSOCIA- TIONS.— T his paragraph shall not apply to 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 before October 15, 1982, as a savings bank or a cooperative bank under State law; 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. " (H) No CIRCUMVENTION OF EXIT MORATORIUM.—Subpara- graph (A) of this paragraph shall not be construed as permitting any insured depository institution to engage in any conversion transaction prohibited under section 5(d) of the Federal Deposit Insurance Act. "(4) DEFINITIONS.—For purposes of this subsection— ^ "(A) ACTUAL THRIFT INVESTMENT PERCENTAGE. — The term 'actual thrift investment percentage' means the percentage determined by dividing— "(i) the amount of a savings association's qualified thrift investments, by "(ii) the amount of the savings association's portfolio assets.

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