Page:United States Statutes at Large Volume 110 Part 4.djvu/644

 110 STAT. 3009-481 PUBLIC LAW 104-208—SEPT. 30, 1996 (I) was established de novo in April 1994 in order to acquire the deposits of a savings association which was in default or in danger of default; and (II) received minority interim capital assistance from the Resolution Trust Corporation under section 21A(w) of the Federal Home Loan Bank Act in connection with the acquisition of any such savings association; or (iii) is a savings association, the deposits of which are insured by the Savings Association Insurance Fund, which— (I) before January 1, 1987, was chartered as a Federal savings bank insured by the Federal Savings and Loan Insurance Corporation for the purpose of acquiring all or substantially all of the assets and assuming all or substantially all of the deposit liabilities of a national bank in a transaction consummated after July 1, 1986; and (II) as of the date of that transaction, had assets of less than $ 150,000,000. (B) DEFINITION. — For purposes of this paragraph, an institution shall be deemed to have held SAIF-assessable deposits before January 1, 1993, if— (i) it directly held SAIF-assessable deposits before that date; or (ii) it succeeded to, acquired, purchased, or otherwise holds any SAIF-assessable deposits as of the date of enactment of this Act that were SAIF-assessable deposits before January 1, 1993. (4) EXEMPT INSTITUTIONS REQUIRED TO PAY ASSESSMENTS AT FORMER RATES.— (A) PAYMENTS TO SAIF AND DIF.— Any insured depository institution that the Board of Directors exempts under this subsection from paying the special assessment imposed under this section shall pay semiannual assessments— (i) during calendar years 1996, 1997, and 1998, into the Savings Association Insurance Fund, based on SAIF-assessable deposits of that institution, at assessment rates calculated under the schedule in effect for Savings Association Insurance Fund members on June 30, 1995; and (ii) during calendar year 1999— (I) into the Deposit Insurance Fund, based on SAIF-assessable deposits of that institution as of December 31, 1998, at assessment rates calculated under the schedule in effect for Savings Association Insurance Fund members on June 30, 1995;or (II) in accordance with clause (i), if the Bank Insurance Fund and the Savings Association Insurance Fund are not merged into the Deposit Insurance Fund. (B) OPTIONAL PRO RATA PAYMENT OF SPECIAL ASSESS- MENT.— T h is paragraph shall not apply with respect to any insured depository institution (or successor insured depository institution) that has paid, during any calendar

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