Page:United States Statutes at Large Volume 120.djvu/2027

 120 STAT. 1996

PUBLIC LAW 109–351—OCT. 13, 2006

1786(k)(3)) is amended by inserting ‘‘or order’’ after ‘‘notice’’ each place that term appears. SEC. 716. CLARIFICATION OF ENFORCEMENT AUTHORITY.

(a) ACTIONS

ON APPLICATIONS, NOTICES, AND THAT CHANGE IN CONTROL

OTHER REQUESTS; CLARIFICATION CONDITIONS ARE ENFORCEABLE.—Section 8 of the Federal Deposit Insurance Act (12 U.S.C. 1818) is amended— (1) in subsection (b)(1), in the first sentence, by striking ‘‘the granting of any application or other request by the depository institution’’ and inserting ‘‘any action on any application, notice, or other request by the depository institution or institution-affiliated party,’’; (2) in subsection (e)(1)(A)(i)(III), by striking ‘‘the grant of any application or other request by such depository institution’’ and inserting ‘‘any action on any application, notice, or request by such depository institution or institution-affiliated party’’; and (3) in subsection (i)(2)(A)(iii), by striking ‘‘the grant of any application or other request by such depository institution’’ and inserting ‘‘any action on any application, notice, or other request by the depository institution or institution-affiliated party’’. (b) CLARIFICATION THAT CHANGE IN CONTROL CONDITIONS ARE ENFORCEABLE.—Section 206 of the Federal Credit Union Act (12 U.S.C. 1786) is amended— (1) in subsection (b)(1), in the first sentence, by striking ‘‘the granting of any application or other request by the credit union’’ and inserting ‘‘any action on any application, notice, or other request by the credit union or institution-affiliated party,’’; (2) in subsection (g)(1)(A)(i)(III), by striking ‘‘the grant of any application or other request by such credit union’’ and inserting ‘‘any action on any application, notice, or request by such credit union or institution-affiliated party’’; and (3) in subsection (k)(2)(A)(iii), by striking ‘‘the grant of any application or other request by such credit union’’ and inserting ‘‘any action on any application, notice, or other request by the credit union or institution-affiliated party’’. SEC. 717. FEDERAL BANKING AGENCY AUTHORITY TO ENFORCE DEPOSIT INSURANCE CONDITIONS.

Section 8 of the Federal Deposit Insurance Act (12 U.S.C. 1818) is amended— (1) in subsection (b)(1), in the 1st sentence— (A) by striking ‘‘in writing by the agency’’ and inserting ‘‘in writing by a Federal banking agency’’; and (B) by striking ‘‘the agency may issue and serve’’ and inserting ‘‘the appropriate Federal banking agency for the depository institution may issue and serve’’; (2) in subsection (e)(1)— (A) in subparagraph (A)(i)(III), by striking ‘‘in writing by the appropriate Federal banking agency’’ and inserting ‘‘in writing by a Federal banking agency’’; and (B) in the undesignated matter at the end, by striking ‘‘the agency may serve upon such party’’ and inserting ‘‘the appropriate Federal banking agency for the depository institution may serve upon such party’’; and

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