Page:United States Statutes at Large Volume 103 Part 1.djvu/410

 103 STAT. 382 PUBLIC LAW 101-73 —AUG. 9, 1989 "(B) LOWER-INCOME OCCUPANCY. — The lower-income occu- pancy requirements specified under paragraphs (2) and (3) shall be judicially enforceable against purchasers of prop- erty under this subsection or their successors in interest by affected very low- and lower-income families. State housing finance agencies, and any agency, corporation, or authority of the United States Government. The parties specified in the preceding sentence shall be entitled to reasonable attor- ney fees upon prevailing in any such judicial action. "(C) CLEARINGHOUSE.— A clearinghouse shall not be sub- ject to suit for its failure to comply with the requirements of this subsection. "(d) NATIONAL AND REGIONAL ADVISORY BOARDS. — "(1) NATIONAL ADVISORY BOARD.— "(A) ESTABLISHMENT.—The Oversight Board shall estab- lish a national advisory board to provide information to the Oversight Board, and to advise that Board on policies and programs for the sale or other disposition of real property assets of institutions which are described in subsection (b)(3)(A). "(B) MEMBERSHIP.— The national advisory board shall consist of— "(i) a chairperson appointed by the Oversight Board; and "(ii) the chairpersons of any regional advisory boards established pursuant to paragraph (2). "(C) MEETINGS. —The national advisory board shall meet 4 times a year, or more frequently if requested by the Corporation. " (2) REGIONAL ADVISORY BOARDS.— "(A) ESTABLISHMENT. — The Oversight Board shall estab- lish not less than 6 regional advisory boards to advise the Corporation on the policies and programs for the sale or other disposition of real property assets of institutions de- scribed in subsection (b)(3)(A). Such regional advisory boards shall be established in any region where the Over- sight Board determines that there exists a significsint port- folio of real property assets of institutions which are described in subsection (b)(3)(A). " (B) MEMBERSHIP.— "(i) APPOINTMENT.—Each regional advisory board shall consist of 5 members. Each member shall be appointed by the Oversight Board and shall serve at the pleasure of the Oversight Board. The members shall be selected from those residents of the region who will represent the views of low- and moderate-income consumers and small businesses, or who have knowl- edge and experience regarding business, financial, and real estate matters. "(ii) TERMS. —Each member of a regional advisory board shall serve a term not to exceed 2 years, except that the Oversight Board may provide for classes of members so that the terms of not more than 3 members of any such board shall expire in any 1 year. "(C) MEETINGS. —Each regional advisory board shall meet 4 times a year, or more frequently if requested by the

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