Page:United States Statutes at Large Volume 103 Part 1.djvu/411

 PUBLIC LAW 101-73 —AUG. 9, 1989 103 STAT. 383 Corporation. A regional advisory board shall conduct its meetings in its region. "(3) PROHIBITION ON COMPENSATION.—Members of the na- tional and regional advisory boards shall serve without com- pensation, except that such members shall be entitled to receive allowances in accordance with subchapter I of chapter 57 of title 5, United States Code, for necessary expenses of travel, lodging, and subsistence incurred in attending official meetings and other activities of the boards. "(4) TREATMENT AS ADVISORY COMMITTEE AND TERMINATION OF NATIONAL AND REGIONAL ADVISORY BOARDS.— "(A) FEDERAL ADVISORY COMMITTEE ACT.— The national and regional advisory boards shall be subject to the provi- sions of the Federal Advisory Committee Act. "(B) TERMINATION.— Notwithstanding the provisions of the Federal Advisory Committee Act, the national advisory board and any regional advisory board established pursuant to this subsection which is in existence on the date on which the Corporation terminates shall also terminate on such date. "(e) INSTITUTIONS ORGANIZED BY THE CORPORATION. — "(1) LIMITATIONS ON CERTAIN ACTIVITIES.— A ll insured deposi- tory institutions (as defined in section 3 of the Federal Deposit Insurance Act) organized by the Corporation under this section shall, during the period such institutions are within the control of the (Dorporation, be subject to such limitations, restrictions, and conditions as determined by the (Dorporation with respect to the following activities: , "(A) Growth of assets. "(B) Lending and borrowing activities. "(C) Asset acquisitions. ' f; ' "(D) Use of brokered deposits. "(E) Pa)rment of deposit rates. '^' "(F) Setting policy or credit standards. ^ "(G) Capital standards. " (2) APPLICABILITY OF OTHER PROVISIONS OF LAW. —Except as otherwise provided, all insured depository institutions (defined ^ in section 3 of the Federal Deposit Insurance Act) organized by the (Dorporation shall— "(A) be subject to all laws and rules otherwise applicable to them as insured depository institutions, and "(B) shall be subject to the supervision of the appropriate Federal banking agency (as that term is defined in section 3 of the Federal Deposit Insurance Act). "(f) FADA.—Before the end of the 180-day period beginning on the date of the enactment of the Financial Institutions Reform, Recov- ery, and Enforcement Act of 1989, the (Dorporation shall liquidate the Federal Asset Disposition Association. "(g) EXEMPTION FROM STATE AND LOCAL TAXATION. —The Corpora- tion and the Oversight Board, the capital, reserves, surpluses, and assets of the Corporation and the Oversight Board, and the income derived from such capital, reserves, surpluses, or assets shall be exempt from State, municipal, and local taxation except taxes on real estate held by the (Dorporation, according to its vahie as other similar property held by other persons is taxed. "(h) GUARANTEES OF FSLIC—

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