Page:United States Statutes at Large Volume 112 Part 1.djvu/62

 112 STAT. 36 PUBLIC LAW 105-164—MAR. 20, 1998 were being performed by the insured credit union or credit union organization itself on its own premises; and "(2) the insured credit union or credit union organization shall notify the Board of the existence of the service relationship not later than 30 days after the earlier of— "(A) the date on which the contract is entered into; or "(B) the date on which the performance of the service is initiated. "(d) ADMINISTRATION BY THE BOARD.—The Board may issue such regulations and orders as may be necessary to enable the Board to administer and carry out this section and to prevent evasion of this section. "(e) DEFINITIONS. — For purposes of this section— "(1) the term 'credit union organization' means any entity that— "(A) is not a credit union; "(B) is an entity in which an insured credit union may lawfully hold an ownership interest or investment; and "(C) is owned in whole or in part by an insured credit union; and "(2) the term 'Federal banking agency' has the same meaning as in section 3 of the Federal Deposit Insurance Act. "(f) EXPIRATION OF AUTHORITY. —This section and all powers and authority of the Board under this section shall cease to be effective as of December 31, 2001.". Approved March 20, 1998. LEGISLATIVE HISTORY—H.R. 3116: HOUSE REPORTS: No. 105-417 (Comm. on Banking and Financial Services). CONGRESSIONAL RECORD, Vol. 144 (1998): Feb. 24, considered and passed House. Mar. 6, considered and passed Senate. WEEKLY COMPILATION OF PRESIDENTIAL DOCUMENTS, Vol. 34 (1998): Mar. 20, Presidential statement.

�