Page:United States Statutes at Large Volume 110 Part 4.djvu/647

 PUBLIC LAW 104-208—SEPT. 30, 1996 110 STAT. 3009-484 "(i) had an adjusted attributable deposit amount that was less than 50 percent of the total deposits of that member bank; or "(ii)(I) had an adjusted attributable deposit amount equal to less than 75 percent of the total assessable deposits of that member bank; "(II) had total assessable deposits greater than $5,000,000,000; and "(III) was owned or controlled by a bank holding company that owned or controlled insured depository institutions having an aggregate amount of deposits insured or treated as insured by the Bank Insurance Fund greater than the aggregate amount of deposits insured or treated as insured by the Savings Association Insurance Fund.". 0') ADJUSTMENT OF SPECIAL ASSESSMENT FOR CERTAIN SAVINGS ASSOCIATIONS. — (1) SPECIAL ASSESSMENT REDUCTION. —For purposes of computing the special assessment imposed under this section, in the case of any converted association, the amount of any deposits of such association which were insured by the Savings Association Insurance Fund as of March 31, 1995, shall be reduced by 20 percent. (2) CONVERTED ASSOCIATION.—For purposes of this subsection, the term "converted association" means— (A) any Federal savings association— (i) that is a member of the Savings Association Insurance Fund and that has deposits subject to assessment by that fund which did not exceed $4,000,000,000, as of March 31, 1995; and (ii) that had been, or is a successor by merger, acquisition, or otherwise to an institution that had been, a State savings bank, the deposits of which were insured by the Federal Deposit Insurance Corporation before August 9, 1989, that converted to a Federal savings association pursuant to section 5(i) of the Home Owners' Loan Act before January 1, 1985; (B) a State depository institution that is a member of the Savings Association Insurance Fund that had been a State savings bank before October 15, 1982, and was a Federal savings association on August 9, 1989; (C) an insured bank that— (i) was established de novo in order to acquire the deposits of a savings association in default or in danger of default; (ii) did not open for business before acquiring the deposits of such savings association; and (iii) was a Savings Association Insurance Fund member before the date of enactment of this Act; and (D) an insured bank that— (i) resulted from a savings association before December 19, 1991, in accordance with section 5(d)(2)(G) of the Federal Deposit Insurance Act; and (ii) had an increase in its capital in conjunction with the conversion in an amount equal to more than 75 percent of the capital of the institution on the day before the date of the conversion.

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