Page:United States Statutes at Large Volume 92 Part 3.djvu/1035

 PUBLIC LAW 95-630—NOV. 10, 1978

92 STAT. 3667

(2) Section 8(h)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(h)(1)) is amended by inserting after "Any hearing provided for in this section" the following: "(other than the hearing provided for in subsection (g)(3) of this section)". (3) Section 8(j) of the Federal Deposit Insurance Act (12 U.S.C. 1818(j)) is amended by striking out " (e)(5), (e)(7), (e)(8)" and inserting in lieu thereof " (e)(3), (e)(4)". (4) Section 8(k) of the Federal Deposit Insurance Act (12 U.S.C. 1818 (k)) is amended by striking out "paragraph (1) of subsection (g) " and inserting in lieu thereof "paragraph (1) or (3) of subsection (g)". (5) Section 8(n) of the Federal Deposit Insurance Act (12 U.S.C. 1818 (n)) is amended by adding at the end thereof the following new sentence: "Any person who willfully shall fail or refuse to attend and Misdemeanor, testify or to answer any lawful inquiry or to produce books, papers, correspondence, memoranda, contracts, agreements, or other records, if in such person's power so to do, in obedience to the subpoena of the appropriate Federal banking agency, shall be guilty of a - •; h^ misdemeanor and, upon conviction, shall be subject to a fine of not more than $1,000 or to imprisonment for a term of not more than one year or both.". (b)(1) Section 407(h) of the National Housing Act (12 U.S.C. 1730 (h)) is amended to read as follows: "(h)(1) Whenever any director or officer of an insured institution, Notice of or other persons participating in the conduct of the affairs of such suspension from institution, is charged in any information, indictment, or complaint office. authorized by a United States attorney, with the commission of or participation in a crime involving dishonesty or breach of trust which is punishable by imprisonment for a term exceeding one year under State or Federal law, the Corporation may, if continued service or participation by the individual may pose a threat to the interests of the institution's depositors or may threaten to impair public confidence in the institution, by written notice served upon such director, officer, or other person suspend him from office or prohibit him from further participation in any manner in the conduct of the affairs of the institution. A copy of such notice shall also be served upon the institution. Such suspension or prohibition shall remain in effect until such information, indictment, or complaint is finally disposed of or until terminated by the Corporation. In the event that Removal from a judgment of conviction with respect to such crime is entered against office. such director, officer, or other person, and at such time as such judgment is not subject to further appellate review, the Corporation may, if continued service or participation by the individual may pose a threat to the interests of the institution's depositors or may threaten to impair public confidence in the institution, issue and serve upon such director, officer, or other person an order removing him from office or prohibiting him from further participation in any manner in the conduct of the affairs of the institution except with the consent of the Corporation. A copy of such order shall also be served upon such institution, whereupon such director or officer shall cease to be a director or officer of such institution. A finding of not guilty or other disposition of the charge shall not preclude the Corporation from thereafter instituting proceedings to remove such director, officer, or other person from office or to prohibit further participation in institution affairs, pursuant to paragraph (1), (2), or (3) of subsection (g) of this section. Any notice of suspension or order of removal issued under this paragraph shall remain effective and

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