Page:United States Statutes at Large Volume 103 Part 1.djvu/488

 103 STAT. 460 PUBLIC LAW 101-73 —AUG. 9, 1989 (b) CREDIT UNIONS INSURED BY THE NCUA. —Section 206(k) of the Federal Credit Union Act (12 U.S.C. 1786(k)) is amended by adding at the end thereof the following new paragraph: " (3) NOTICE UNDER THIS SECTION AFTER SEPARATION FROM SERV- ICE.— The resignation, termination of employment or participa- tion, or separation of a institution-affiliated party (including a separation caused by the closing of an insured credit union) shall not affect the jurisdiction and authority of the Board to issue any notice and proceed under this section against any such party, if such notice is served before the end of the 6-year period beginning on the date such party ceased to be such a party with respect to such credit union (whether such date occurs before, on, or after the date of the enactment of this paragraph).". (c) CHANGE IN CONTROL OF DEPOSITORY INSTITUTION.—Section 7(j)(15) of the Federal Deposit Insurance Act (12 U.S.C. 1817(j)(15)) is amended by adding at the end thereof the following new sentence: "The resignation, termination of employment or participation, divestiture of control, or separation of or by an institution-affiliated party (including a separation caused by the closing of a depository institution) shall not affect the jurisdiction and authority of the appropriate Federal banking agency to issue any notice and proceed under this subsection against any such party, if such notice is served before the end of the 6-year period beginning on the date such party ceased to be such a party with respect to such depository institution (whether such date occurs before, on, or after the date of the enactment of this sentence).". (d) NONMEMBER INSURED BANKS AND SAVINGS ASSOCIATIONS. — Section 180') of the Federal Deposit Insurance Act (12 U.S.C. 18280')) is amended by adding at the end the following new paragraph: "(6) NOTICE UNDER THIS SECTION AFTER SEPARATION FROM SERV- ICE.—The resignation, termination of employment or participa- tion, or separation of an institution-affiliated party (including a separation caused by the closing of a nonmember bank or a savings association) shall not affect the jurisdiction and author- ity of the Corporation or the Director of the Office of Thrift Supervision, as appropriate, to issue any notice and proceed under this section against any such party, if such notice is served before the end of the 6-year period beginning on the date such party ceased to be such a party with respect to such nonmember bank or such savings association (whether such date occurs before, on, or after the date of the enactment of this paragraph).". (e) NATIONAL BANKS.—Section 5239 of the Revised Statutes (12 U.S.C. 93) is amended by adding at the end thereof the following new subsection: "(c) NOTICE UNDER THIS SECTION AFTER SEPARATION FROM SERV- ICE,—The resignation, termination of employment or participation, or separation of an institution-affiliated party (within the meaning of section 3(u) of the Federal Deposit Insurance Act) with respect to such an Eissociation (including a separation caused by the closing of such an association) shall not affect the jurisdiction and authority of the Clomptroller of the Currency to issue any notice and proceed under this section against any such party, if such notice is served before the end of the 6-year period beginning on the date such party ceased to be such a party with respect to such association (whether

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