Page:United States Statutes at Large Volume 103 Part 1.djvu/438

 103 STAT. 410 PUBLIC LAW 101-73 —AUG. 9, 1989 "(IV) shares held in an account solely for trading pur- poses; "(V) shares over which no control is held other than control of voting rights acquired in the normal course of a proxy solicitation; "(VI) loans or other accounts receivable acquired in the normal course of business; "(VII) shares or assets acquired in securing or collecting a debt previously contracted in good faith, during the 2-year period beginning on the date of such acquisition or for such additional time (not exceeding 3 years) as the Board may permit if the Board determines that such an extension will not be detrimental to the public interest; "(VIII) shares or assets of a savings association described in paragraph (10) or (12) of this subsection; (IX) shares of a savings association held by any insur- ance company, as defined in section 2(a)(17) of the Invest- ment Company Act of 1940, except as provided in paragraph (11); and "(X) shares issued in a qualified stock issuance under section 10(q) of the Home Owners' Loan Act; except that the aggregate amount of shares held under this . clause (other than under subclauses (I), (II), (III), (IV), (V), and (VIII)) may not exceed 15 percent of all outstanding shares or of the voting power of a savings association; or", (b) TECHNICAL AMENDMENTS. — (1) Section 4(fK10) of the Bank Holding Company Act of 1956 (12 U.S.C. 1843(fK10)) is amended— (A) by striking "and (ii)(V)" and inserting "and (ii)(VIII)"; and (B) in subparagraph (A), by inserting "or section 13(k) of the Federal Deposit Insurance Act" after "National Hous- ing Act". (2) Section 4(f) of the Bank Holding Company Act of 1956 (12 . U.S.C. 1843(f)) is amended by adding at the end the following: " (11) SHARES HELD BY INSURANCE AFFILIATES.— Shares de- scribed in clause (iiXIX) of paragraph (2)(A) shall not be ex- cluded for purposes of clause (ii) of such paragraph if— "(A) all shares held under such clause (iiXIX) by all insurance company affiliates of such savings association in the aggregate exceed 5 percent of all outstanding shares or of the voting power of the savings association; or "(B) such shares are acquired or retained with a view to acquiring, exercising, or transferring control of the savings association.". SEC. 604. PURCHASE OF MINORITY INTEREST IN UNDERCAPITALIZED . SAVINGS ASSOCIATIONS BY HOLDING COMPANIES ALLOWED. (a) AMENDMENT TO DEPOSITORY INSTITUTION MANAGEMENT INTER- LOCKS ACT. —Section 205 of the Depository Institution Management Interlocks Act (12 U.S.C. 3204) is amended by adding at the end thereof the following new paragraph: "(9) Any savings association (as defined in section lO(a)(l)(A) of the Home Owners' Loan Act or any savings and loan holding company (as defined in section 10(a)(l)(D) of such Act) which has issued stock in connection with a qualified stock issuance pursu-

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