Page:United States Statutes at Large Volume 103 Part 1.djvu/382

 103 STAT. 354 PUBLIC LAW 101-73—AUG. 9, 1989 (1) MINORITY FINANCIAL INSTITUTION. —The term "minority depository institution" means any depository institution that— (A) if a privately owned institution, 51 percent is owned by one or more socially and economically disadvantaged individuals; (B) if publicly owned, 51 percent of the stock is owned by one or more socially and economically disadvantaged individuals; and OiJ (C) in the case of a mutual institution where the majority of the Board of Directors, account holders, and the commu- ^ nity which it services is predominantly minority. (2) MINORITY.— The term 'minority" means any black Amer- ican, Native American, Hispanic American, or Asian American. 12 USC 1437 TITLE IV—TRANSFER OF FUNCTIONS, PERSONNEL, AND PROPERTY employees. Government SEC. 401. FSLIC AND FEDERAL HOME LOAN BANK BOARD ABOLISHED. organization and /\T fimnlovfifis (a) IN GENERAL.— (1) FSLIC.—Effective on the date of the enactment of this Act, the Federal Savings and Loan Insurance Corporation estab- lished under section 402 of the National Housing Act is abol- ished. (2) FHLBB.—Effective at the end of the 60-day period begin- ning on the date of the enactment of this Act, the Federal Home Loan Bank Board and the position of Chairman of the Federal Home Loan Bank Board are abolished. (b) DISPOSITION OF AFFAIRS. — (1) IN GENERAL. — During the 60-day period beginning on the date of the enactment of this Act, the Chairman of the Federal Home Loan Bank Board— (A) shall, solely for the purpose of winding up the affairs of the Federal Savings and Loan Insurance Corporation and the Federal Home Loan Bank Board— (i) manage the employees of the Board and provide for the payment of the compensation and benefits of any such employee which accrue before the effective •' date of the transfer of such employee pursuant to section 403; and ' (ii) manage any property of the Board and the Cor- poration until such property is transferred pursuant to section 405; and (B) may take any other action necessary for the purpose of winding up the affairs of the Corporation and the Board. (2) AVAILABILITY OF FUNDS IN FSLIC RESOLUTION FUND ON A REIMBURSABLE BASIS. — (A) AvAiLABiliTY OF FUNDS.— Notwithstanding any provi- sion of section 11A of the Federal Deposit Insurance Act {as added by section 215 of this Act), funds in the FSLIC Resolution Fund shall be available to the Chairman of the 'I Federal Home Loan Bank Board to pay any expense in- curred in carrying out the requirements of paragraph (1). &-' (B) PAYMENT BY FDIC.—Upon the request of the Chairman of the Federal Home Loan Bank Board, the Federal Deposit Insurance Corporation shall pay to the Chairman from the

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