Page:United States Statutes at Large Volume 92 Part 3.djvu/1057

 PUBLIC LAW 95-630—NOV. 10, 1978

92 STAT. 3689

" (F) The identification of any person employed, retained, or to be compensated by the acquiring party, or by any person on his behalf, to make solicitations or recommendations to stockholders for the purpose of assisting in the acquisition, and a brief description of the terms of such employment, retainer, or arrangement for compensation. " (G) Copies of all invitations or tenders or advertisements making a tender offer to stockholders for purchase of their stock to be used in connection with the proposed acquisition. " (H) Any additional relevant information in such form as the Corporation may require by regulation or by specific request in connection with any particular notice. " (7) The Corporation may disapjDrove any proposed acquisition if— "(A) the proposed acquisition of control would result in a monopoly or would be in furtherance of any combination or conspiracy to monopolize or to attempt to monopolize the savings and loan business in any part of the United States; "(B) the effect of the proposed acquisition of control in any section of the country may be substantially to lessen competition or to tend to create a monopoly or the proposed acquisition of control would in any other manner be in restraint of trade, and the anticompetitive effects of the proposed acquisition of control are not clearly outweighed in the public interest by the probable effect of the transaction in meeting the convenience and needs of the community to be served; "(C) the financial condition of any acquiring person is such as might jeopardize the financial stability of the institution or prejudice the interests of the depositors of the institution; "(D) the competence, experience, or integrity of any acquiring person or any of the proposed management personnel indicates that it would not be in the interest of the depositors of the institution or in the interest of the public to permit such person to control the institution; or " (E) any acquiring person neglects, fails, or refuses to furnish the Corporation all the information required by the Corporation. "(8) For the purposes of this subsection, the term— "(A) 'person' means an individual or a corporation, partner- "Person." ship, trust, association, joint venture, pool, syndicate, sole proprietorship, unincorporated organization, or any other form of entity not specifically listed herein, and "(B) 'control' means the power, directly or indirectly, to direct "Control. the management or policies of an insured institution or to vote 25 per centum or more of any class of voting securities of an insured institution. "(9) Whenever any insured institution or an insured bank makes a Report. loan, or loans, secured, or to be secured, by 25 per centum or more of the outstanding voting stock of an insured institution, the president or other chief executive officer of the lending insured institution or insured bank shall promptly report such fact to the Corporation upon obtaining knowledge of such loan or loans, except that no report need be made in those cases where the borrower has been the owner of record of the stock for a period of one year or more or where the stock is that of the newly organized institution prior to its opening, "(10) The reports required by paragraph (9) of this subsection shall contain such of the information referred to in paragraph (6) of this subsection, and such other relevant information, as the Corporation may require by regulation or by specific request in connection with any particular report. pt.

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