Page:United States Statutes at Large Volume 103 Part 1.djvu/471

 PUBLIC LAW 101-73 —AUG. 9, 1989 103 STAT. 443 the appointment of the conservator. Upon petition, the court shall grant such stay as to all parties. "(3) ACTIONS AND ORDERS.— Except as otherwise provided in this subsection, no court may take any action regarding the removal of a conservator, or restrain, or affect the exercise of powers or functions of a conservator. A court, upon application by the Comptroller, shall have jurisdiction to enforce an order of the Comptroller relating to— "(A) the conservatorship and the bank in conservatorship, or "(B) restraining or affecting the exercise of powers or functions of a conservator. "(c) ADDITIONAL GROUNDS FOR APPOINTMENT. —In addition to the foregoing provisions, the Comptroller may appoint a conservator for a bank if— "(1) the bank, by an affirmative vote of a majority of its board of directors or by an affirmative vote of a majority of its shareholders, consents to such appointment, or "(2) the Federal Deposit Insurance Corporation terminates the bank's status as an insured bank. The appointment of a conservator pursuant to this subsection shall not be subject to review. "(d) EXCLUSIVE AUTHORITY.— The Comptroller shall have exclusive power and jurisdiction to appoint a conservator for a bank. When- ever the Comptroller appoints a conservator for any bank, the Comptroller may appoint the Federal Deposit Insurance Corpora- tion conservator for such bank. The Federal Deposit Insurance Corporation, as such conservator, shall have all the powers granted under the Federal Deposit Insurance Act, and (when not inconsist- ent therewith) any other rights, powers, and privileges possessed by conservators of banks under this Act and any other provision of law. The Comptroller may also appoint another person as conservator, who shall be subject to the provisions of this Act. "(e) REPLACEMENT OF CONSERVATOR. — The Comptroller may, without notice or hearing, replace a conservator with another con- servator. Such replacement shall not affect the bank's right under subsection (b) to obtain judicial review of the Comptroller's original decision to appoint a conservator.". SEC. 803. EXAMINATIONS. Section 204 of the Bank Conservation Act (12 U.S.C. 204) is amended to read as follows: "SEC. 204. EXAMINATIONS. "The Comptroller of the Currency (in consultation with the Board of Directors of the Federal Deposit Insurance Corporation when the Corporation is appointed conservator) is authorized to examine and supervise the bank in conservatorship as long as the bank continues to operate as a going concern. The Comptroller may use reports and other information provided by the Federal Deposit Insurance Cor- poration for this purpose.". SEC. 804. TERMINATION OF CONSERVATORSHIP. Section 205 of the Bank Conservation Act (12 U.S.C. 205) is amended to read as follows:

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