Page:United States Statutes at Large Volume 105 Part 3.djvu/375

 PUBLIC LAW 102-242 —DEC. 19, 1991 105 STAT. 2259 interest rates paid on time deposits made before (and not renewed or renegotiated after) the agency acted under this subparagraph. "(D) RESTRICTING ASSET GROMTTH. — Restricting the institution's asset growth more stringently than subsection (e)(3), or requiring the institution to reduce its total assets. "(E) RESTRICTING ACTIVITIES.—Requiring the institution or any of its subsidiaries to alter, reduce, or terminate any activity that the agency determines poses excessive risk to the institution. "(F) IMPROVING MANAGEMENT. —Doing 1 or more of the following: "(i) NEW ELECTION OF DIRECTORS. — Ordering a new election for the institution's board of directors. " (ii) DISMISSING DIRECTORS OR SENIOR EXECUTIVE OFFI- CERS. —Requiring the institution to dismiss from office any director or senior executive officer who had held office for more than 180 days immediately before the institution became undercapitalized. Dismissal under this clause shall not be construed to be a removal under section 8. "(iii) EMPLOYING QUALIFIED SENIOR EXECUTIVE OFFI- CERS. —Requiring the institution to employ qualified senior executive officers (who, if the agency so specifies, shall be subject to approval by the agency). " (G) PROHIBITING DEPOSITS FROM CORRESPONDENT BANKS. — Prohibiting the acceptance by the institution of deposits from correspondent depository institutions, including renewals and rollovers of prior deposits. " (H) REQUIRING PRIOR APPROVAL FOR CAPITAL DISTRIBU- TIONS BY BANK HOLDING COMPANY.— Prohibiting any bank holding company having control of the insured depository institution from making any capital distribution without the prior approval of the Board of Governors of the Federal Reserve System. "(I) REQUIRING DIVESTITURE. —Doing one or more of the following: "(i) DIVESTITURE BY THE INSTITUTION.— Requiring the institution to divest itself of or liquidate any subsidiary if the agency determines that the subsidiary is in danger of becoming insolvent and poses a significant risk to the institution, or is likely to cause a significant dissipation of the institution's assets or earnings. "(ii) DIVESTITURE BY PARENT COMPANY OF NONDEPOSITORY AFFIUATE.— Requiring any company having control of the institution to divest itself of or liquidate any affiliate other than an insured depository institution if the appropriate Federal banking agency for that company determines that the affiliate is in danger of becoming insolvent and poses a significant risk to the institution, or is likely to cause a significant dissipation of the institution's assets or earnings. "(iii) DIVESTITURE OF INSTITUTION.— Requiring any company having control of the institution to divest itself of the institution if the appropriate Federal banking agency for that company determines that divesti-

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