Page:United States Statutes at Large Volume 105 Part 3.djvu/414

 105 STAT. 2298 PUBLIC LAW 102-242—DEC. 19, 1991 "(5) EXPENSES AND FEES.—Any court having jurisdiction of any proceeding instituted under this subsection may allow any party to such proceeding such reasonable expenses and attorneys' fees as the court deems just and proper. "(6) CRIMINAL PENALTY.— Any person who willfully fails or refuses to attend and testify or to answer any lawful inquiry or to produce books, papers, correspondence, memoranda, contracts, agreements, or other records in accordance with any subpoena under this subsection shall be fined under title 18, United States Code, imprisoned not more than 1 year, or both. Each day during which any such failure or refusal continues shall be treated as a separate offense.". SEC. 210. CLARIFICATION OF MANAGERIAL STANDARDS IN BANK HOLD- ING COMPANY ACT OF 1956. Section 3(c) of the Bank Holding Company Act of 1956 (12 U.S.C. 1842(c)) (as amended by section 202(d) of this subtitle) is amended by adding at the end the following new paragraph: "(5) MANAGERIAL RESOURCES.—Consideration of the managerial resources of a company or bank under paragraph (2) shall include consideration of the competence, experience, and integrity of the officers, directors, and principal shareholders of the company or bank.". SEC. 211. STANDARDS AND FACTORS IN THE HOME OWNERS' LOAN ACT. Section 10(e) of the Home Owners' Loan Act (12 U.S.C. 1467a(e)) is amended— (1) in paragraph (1), by inserting after subparagraph (B) the following: "Consideration of the managerial resources of a company or savings association under subparagraph (B) shall include consideration of the competence, experience, and integrity of the officers, directors, and principal shareholders of the company or association."; (2) in paragraph (2)— (A) by inserting after the second sentence "Consideration of the managerial resources of a company or savings association shall include consideration of the competence, experience, and integrity of the officers, directors, and principal shareholders of the company or association."; (B) by striking "or" at the end of subparagraph (A); (C) by striking the period at the end of subparagraph (B) and inserting a comma; and (D) by inserting after subparagraph (B) the following new subparagraphs: "(C) if the company fails to provide adequate assurances to the Director that the company will make available to the Director such information on the operations or activities of the company, and any affiliate of the company, as the Director determines to be appropriate to determine and enforce compliance with this Act, or "(D) in the case of an application involving a foreign bank, if the foreign bank is not subject to comprehensive supervision or regulation on a consolidated basis by the appropriate authorities in the bank's home country.".

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