Page:United States Statutes at Large Volume 92 Part 3.djvu/1043

 PUBLIC LAW 95-630—NOV. 10, 1978

92 STAT. 3675

(b) Section 5(d) of the Homeowners' Loan Act (12 U.S.C. 1464(dj) . s o o d. a l <>$,'• is amended by adding at the end thereof the following new paragraph: "(15) For the purpose of enforcing any law, rule, regulation, or "Officer" and cease-and-desist order in connection with an interlocking relationship, "director." the term 'officer' as used in this subsection means an employee or officer with management functions, and the term 'director' includes an advisory or honorary director, a trustee of an association under the control of trustees, or any person who has a representative or nominee serving in any such capacity.". (c) Section 407(q) of the National Housing Act is amended by add- 12 USC 1730. ing at the end thereof the following: "(4) For the purpose of enforcing any law, rule, regulation, or "Officer" and cease-and-desist order in connection with an interlocking relationship, "director." the term 'officer' as used in this subsection means an employee or officer with management functions, and the term 'director' includes an advisory or honorary director, a trustee of an association under the control of trustees, or any person who has a representative or nominee serving in any such capacity.". SEC. 209. Rules and regulations to carry out this title, including rules Rules and or regulations which permit service by a management official which regulations. would otherwise be prohibited by section 203 or section 204, may be 12 USC 3207. prescribed by— (1) the Comptroller of the Currency with respect to national banks and banks located in the District of Columbia, (2) the Board of Governors of the Federal Reserve System with respect to State banks which are members of the Federal Reserve System, and bank holding companies, (3) the Board of Directors of the Federal Deposit Insurance Corporation with respect to State banks which are not members of the Federal Reserve System but the deposits of which are insured by the Federal Deposit Insurance Corporation, (4) the Federal Home Loan Bank Board with respect to institutions the accounts of which are insured by the Federal Savings and Loan Insurance Corporation, and savings and loan holding companies, and (5) the National Credit Union Administration with respect to credit unions the accounts of which are insured by the National Credit Union Administration. TITLE III—FOREIGN BRANCHING SEC. 301. (a) Section 3(o) of the Federal Deposit Insurance Act (12 U.S.C. 1813 (o)) is amended— (1) by inserting "domestic" immediately before "branch" the first place it appears; and (2) by inserting before the period at the end thereof a semicolon and the following: "and the term 'foreign branch' means any office or place of business located outside the United States, its territories, Puerto Rico, Guam, American Samoa, or the Virgin Islands, at which banking operations are conducted". (b) Section 18(d) of the Federal Deposit Insurance Act (12 U.S.C. 1828(d)) is amended— (1) by inserting " (1) " after " (d) "; (2) by inserting "domestic" between "new" and "branch"; (3) by inserting "such" between "any" and "branch"; and ' (4) by adding at the end thereof the following new paragraph:

"Foreign branch."

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