Page:United States Statutes at Large Volume 80 Part 1.djvu/1072

 1036

62 Stat. 907.

48*statr\*246^.' u use 1421.

1701

Effective date.

68^stat^*63^3^^'

PUBLIC LAW 89-695-OCT. 16, 1966

[80 STAT.

order, issued by the Board with the consent of the association or the director or officer or other person concerned, or with respect to which no petition for review of the action of the Board has been filed and perfected in a court of appeals as specified in paragraph (7)(B) of this subsection, or with respect to which the action of the court in which said petition is so filed is not subject to further review by the Supreme Court of the United States in proceedings provided for in said paragraph, or an order issued under paragraph (5)(A) of this subsection. "(2) The term 'State' includes the CommonweaUh of Puerto Rico. "(3) The term 'territory' includes any possession of the United States and any place subject to the jurisdiction of the United States. " (4) The terms 'district', 'district court', 'district court of the United States', and 'judicial district' shall have the meanings defined in section 45^ ^f ^-^j^ gg ^f ^^^ United States Code. " (B) As used in paragraph (4) of this subsection, the term 'violation' includes without limitation any action (alone or with another or others) for or toward causing, bringing about, participating in, counseling, or aiding or abetting a violation. " (14) As used in this subsection, the terms 'Federal savings and loan association' and 'association' shall include any institution with respec!: to which the Federal Home Loan Bank Board now or hereafter has any statutory power of examination or supervision under any Act or joint resolution of Congress other than this Act, the Federal Home Loau Bank Act, and the National Housing Act. For the purposes of this paragraph (14), references in this subsection to directors, officers, employees, and agents, or to former directors or officers, of associations shall be deemed to be references respectively to directors, officers, employees, and agents, or to former directors or officers, of such institutions, references therein to savings account holders and to members of associations shall be deemed to be references to holders of withdrawable accounts in such institutions, and references therein to boards of directors of associations shall be deemed to be references to boards of directors or other governing boards of such institutions. Said Board shall have power by regulation to define, for the purposes of this paragraph (14), terms used or referred to in the sentence next preceding and other terms used in this subsection." (b) The amendment made by subsection (a) of this section shall be effective only with respect to proceedings commenced on or after the date of enactment of this Act. Section 5(d) of the Home Owners' Loan Act of 1933 as in effect immediately prior to the date of enactment of this Act shall continue in effect with respect to any proceedings commenced prior to such date. SEC. 102. (a) Section 407 of the National Housing Act (12 U.S.C. 1730) is hereby amended to read as follows: "SEC. 407. TERMINATION or INSURANCE AND ENFORCEMENT PROVISIONS.— " (a) VOLUNTARY TERMINATION or INSURANCE.—Any insured insti-

tution other than a Federal savings and loan association may terminate its status as an insured institution by written notice to the Corporation specifying a date for such termination. "(b)

INVOLUNTARY TERMINATION OF INSURANCE; NOTICE AND HEAR-

ING.— (1) Whenever, in the opinion of the Corporation, any insured institution has violated its duty as such or is engaging or has engaged in an unsafe or unsound practice in conducting the business of such institution, or is in an unsafe or unsound condition to continue operations as an insured institution, or is violating or has violated an applicable law, rule, regulation, or order, or any condition imposed in writing by the Corporation in connection with the granting of any application or other request by the institution, or any written agreement entered into with the Corporation, including any agreement en-

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