Page:United States Statutes at Large Volume 105 Part 3.djvu/373

 PUBLIC LAW 102-242—DEC. 19, 1991 105 STAT. 2257 '•^"" "(i) provide insured depository institutions with reasonable time to submit capital restoration plans,, [^, and generally require an institution to submit a plan not later than 45 days after the institution becomes undercapitalized; and "(ii) require the agency to act on capital restoration plans expeditiously, and generally not later than 60 days after the plan is submitted; and "(iii) require the agency to submit a copy of any plan approved by the agency to the Corporation before the end of the 45-day period beginning on the date such approval is granted. "(E) GUARANTEE LIABILITY LIMITED.— "(i) IN GENERAL.—The aggregate liability under subparagraph (C)(ii) of all companies having control of an insured depository institution shall be the lesser of— "(I) an amount equal to 5 percent of the institution's total assets at the time the institution became undercapitalized; or "(II) the amount which is necessary (or would have been necessary) to bring the institution into compliance with all capital standards applicable with respect to such institution as of the time the institution fails to comply with a plan under this subsection, "(ii) CERTAIN AFFIUATES NOT AFFECTED. —This paragraph may not be construed as— "(I) requiring any company not having control of an undercapitalized insured depository institution to guarantee, or otherwise be liable on, a capital restoration plan; "(II) requiring any person other than an insured depository institution to submit a capital restora- V tion plan; or "(III) affecting compliance by brokers, dealers, government securities brokers, and government securities dealers with the financial responsibility requirements of the Securities Exchange Act of 1934 and regulations and orders thereunder. "(3) ASSET GROWTH RESTRICTED.— An undercapitalized insured depository institution shall not permit its average total assets during any calendar quarter to exceed its average total assets during the preceding calendar quarter unless— "(A) the appropriate Federal banking agency has accepted the institution's capital restoration plan; "(B) any increase in total assets is consistent with the plan; and "(C) the institution's ratio of tangible equity to assets increases during the calendar quarter at a rate sufficient to enable the institution to become adequately capitalized within a reasonable time. "(4) PRIOR APPROVAL REQUIRED FOR ACQUISITIONS, BRANCHING, AND NEW UNES OF BUSINESS. — An undercapitalized insured depository institution shall not, directly or indirectly, acquire any interest in any company or insured depository institution,

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