Page:United States Statutes at Large Volume 75.djvu/524

 484

PUBLIC LAW 87-210-SEPT. 8, 1961

[75 S T A T.

such manner as the Corporation shall by regulations or otherwise prescribe, an additional premium in the nature of a prepayment with respect to future premiums of such institution under subsection (b) equal to 2 per centum of the net increase in all accounts of its insured members during the next preceding calendar year, less an amount equal to any requirement, as of the end of such calendar year, for the purchase of stock of the Federal Home Loan Bank of which such institution is a member, calculated in accordance with the provisions Ante, p. 482. of subsection (c) of section 6 of the Federal Home Loan JBank Act and without regard to any net increase during such calendar year in its holdings of such stock, and such prepayments shall be credited to the Secondary Keserve: Provided, That m the case of an insured institution which was not an insured institution at the beginning of such next preceding calendar year the 2 per centum aforesaid shall be 2 per centum of the net increase in all accounts of its insured members during that part of said calendar year which begins with the close of the day on which such institution becomes an insured institution and the amount deducted from such 2 per centum under the foregoing provisions of this sentence shall not exceed one-half of such 2 per centum as calculated in accordance with this proviso. The Federal Home Loan Bank Board shall by regulations or otherwise provide for the furnishing to the Corporation of all necessary information with respect to Federal Home Loan Bank stock. Annual (e) The Corporation, in accordance with such regulations as it ings. may prescribe, shall credit to the Secondary Reserve, as of the close Credits. of each calendar year a return on the outstanding balances of the Secondary Reserve during such calendar year, as determined by the Corporation, at a rate equal to the average annual rate of return to the Corporation during the year ending at the close of November 30 of such calendar year, as determined by the Corporation, on the investments held by the Corporation in obligations of, or guaranteed as to Restrictions. principal and interest Tby, the United States. Except as provided in subsections (f) and (g), the Secondary Reserve shall be available to the Corporation only lor losses of the Corporation and shall be so available only to such extent as other accounts of the Corporation A s s i g n m e n t or which are available therefor are insufficient for such losses. No right, transfer. title, or interest of any institution in or with respect to its pro rata share of the Secondary Reserve shall be assignable or transferable, whether by operation of law or otherwise, except to such extent as the Corporation may by regulation or otherwise provide for transfer of such pro rata share in cases of merger or consolidation, transfer of bulk assets as defined by the Corporation by regulation or otherwise for the purposes of this sentence, and similar transactions as so defined. Terminatl o n of ^ "(f) If (i) the status of an insured institution as an insured instituinsurance. 64's"a** 259; 68 tion is terminated pursuant to any provision of section 407 or the Stat. 633. '^ u s e 1730 '"" insurance of accounts of an insured institution is otherwise terminated, 12 (ii) a conservator, receiver, or other legal custodian is appointed for an insured institution under the circumstances and for the purpose 12 USC 1724. set forth in subdivision (d) of section 401, or (iii) the Corporation makes a determination that for the purposes of this subsection an insured institution has gone into liquidation, the obligation of such institution to make prepayments under subsection (d) of this section, including any prepayments as to which such institution is obligated at the time of such termination, appointment, or determination, shall cease, and the Corporation shall pay in cash to such institution its pro rata share of the Secondary Reserve, in accordance with such terms and conditions as the Corporation may prescribe 1^ regulations or otherwise, or, at the option of the Corporation, the Corporation may

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