Page:United States Statutes at Large Volume 103 Part 1.djvu/421

 PUBLIC LAW 101-73 —AUG. 9, 1989 103 STAT. 393 "(i) been convicted of any felony, "(ii) been removed from, or prohibited from partici- pating in the affairs of, any insured depository institu- tion pursuant to any final enforcement action by any appropriate Federal banking agency, "(iii) demonstrated a pattern or practice of defalca- tion regarding obligations to insure depository institu-, . tions, or "(iv) caused a substantial loss to Federal deposit insurance funds, from service on behalf of the Corporation. "(7) ABROGATION OF CONTRACTS.— The Oversight Board or the Corporation may rescind any contract with a person who— "(A) fails to disclose a material fact to the Oversight Board or the Corporation, "(B) would be prohibited under paragraph (6) from providing services to, receiving fees from, or contracting with the Corporation or the Oversight Board, or "(C) has been subject to a final enforcement action by any Federal bank regulatory agency. "(8) PRIORITY OF OVERSIGHT BOARD RULES.— To the extent that the rules established under this subsection conflict with rules of other Eigencies or Government corporations, officers, directors, employees, and independent contractors of the (Corporation or the Oversight Board, who are also subject to the conflict of interest or ethical rules of another agency or Government corporation, shall be governed by the rules and regulations established by the Oversight Board under this subsection when acting for or on behalf of the Corporation. "(9) DEFINITIONS. —For the purposes of this subsection— "(A) The term 'company' has the same meaning as in section 2(b) of the Bank Holding Company Act of 1956. "(B) The term 'control' has the same meaning given such term under regulations promulgated by the Federal Home Loan Bank Board with respect to savings and loan holding companies as in effect on the day before the date of enact- ment of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989. "(C) The term '(IJorporation' includes the Resolution Trust Corporation, the national advisory board, and the regional advisory boards.", (b) INSPECTOR GENERAL OF THE CORPORATION. — (1) ESTABLISHMENT.— Section 11 of the Inspector General Act of 1978 (5 U.S.C. App.) is amended— (A) in paragraph (1), by inserting "the Oversight Board and the Board of Directors of the Resolution Trust Corpora- tion" before "; as the case may be,"; and (B) in paragraph (2), by inserting "the Resolution Trust Corporation," after "the Railroad Retirement Board,". (2) POSITION AT LEVEL IV OF THE EXECUTIVE SCHEDULE. — (A) IN GENERAL.— Section 5315 of title 5, United States (Dode, is amended by adding at the end thereof: "Inspector General, Resolution Trust Corporation.". (B) APPROPRIATION. —T here is hereby authorized to be appropriated such sums as may be necessary for the oper-

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