Page:United States Statutes at Large Volume 103 Part 1.djvu/570

 103 STAT. 542 PUBLIC LAW 101-73—AUG. 9, 1989 mines by regulation, resolution, or order to include any such participation within the meaning of such term, "(iii) FORWARD CONTRACT. — The term 'forward con- • tract' has the meaning given to such term in section 101(24) of title 11, United States Code. "(iv) REPURCHASE AGREEMENT.—The term *re- ^ purchase agreement' — "(I) has the meaning given to such term in sec- tion 101(41) of title 11, the United States Code, except that the items (as described in such section) which may be subject to any such agreement shall be deemed to include mortgage-related securities (as such term is defined in section 3(a)(41) of the Securities Exchange Act of 1934, any mortgage loan, and any interest in any mortgage loan; and • "(11) does not include any participation in a commercial mortgage loan unless the Board deter- mines by regulation, resolution, or order to include any such participation within the meaning of such term. "(v) TRANSFER.—The term 'transfer' has the meaning given to such term in section 101(50) of title 11, United States Code. "(E) CERTAIN PROTECTIONS IN EVENT OF APPOINTMENT OF CONSERVATOR.— Notwithstanding any other provision of this Act (other than paragraph (12) of this subsection, subsection (b)(9) of this section, and section 208(a)(3) of this Act), any other Federal law, or the law of any State, no person shall be stayed or prohibited from exercising— "(i) any right such person has to cause the termi- nation, liquidation, or acceleration of any qualified financial contract with a credit union in a conservatorship based upon a default under such finan- cial contract which is enforceable under applicable noninsolvency law; "(ii) any right under any security arrangement relat- ing to such qualified financial contracts; or "(iii) any right to offset or net out any termination values, payment amounts, or other trgmsfer obligations arising under or in connection with such qualified financial contracts. " (9) TRANSFER OF QUALIFIED FINANCIAL CONTRACTS. —In making any transfer of assets or liabilities of a credit union in default which includes any qualified financial contract, the conservator or liquidating agent for such credit union shall either— "(A) transfer to 1 credit union (other than a credit union in default)— "(i) all qualified financial contracts between— "(I) any person or any affiliate of such person; and "(II) the credit union in default; "(ii) all claims of such person or any affiliate of such person against such credit union under any such con- tract (other than any claim which, under the terms of

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