Page:United States Statutes at Large Volume 93.djvu/1152

 93 STAT. 1120

PUBLIC LAW 96-153—DEC. 21, 1979 DEPOSIT INSURANCE AND SECURITY EXTENDED TO INDIAN TRIBAL GOVERNMENT DEPOSITS

12 USC 1821.

25 USC 1452.

12 USC 1728.

25 USC 1452.

12 USC 1787.

25 USC 1452.

12 USC 1757. 12 USC 1787. 12 USC 1728 "°*®-

12 USC 90.

SEC. 323. (a) Paragraph (2)(A) of section 11(a) of the Federal Deposit Insurance Act is amended by— (1) striking out "or" at the end of clause (iii), (2) inserting "or" following the semicolon at the end of clause (iv), and (3) inserting immediately after clause (iv) the following: "(v) an officer, employee, or agent of any Indian tribe (as defined in section 3(c) of the Indian Financing Act of 1974) or agency thereof having official custody of tribal funds and lawfully investing or depositing the same in time and savings deposits in an insured bank;". (b) Paragraph (1) of section 405(d) of the National Housing Act is amended by— (1) striking out "or" at the end of clause (iii), (2) inserting "or" following the semicolon at the end of clause (iv), and (3) inserting immediately after clause (iv) the following: "(v) an officer, employee, or agent of any Indian tribe (as defined in section 3(c) of the Indian Financing Act of 1974) or agency thereof having official custody of tribal funds and lawfully investing the same in an insured institution;". (c) Subparagraph (2)(A) of section 207(c) of the Federal Credit Union Act is amended by— (1) striking out "or" at the end of clause (iii), (2) inserting "or" following the semicolon at the end of clause (iv), and (3) inserting immediately after clause (iv) the following: "(v) an officer, employee, or agent of any Indian tribe (as defined in section 3(c) of the Indian Financing Act of 1974) or agency thereof having official custody of tribal funds and lawfully investing the same in a credit union insured in accordance with this title;". (d) Section 107(6) of the Federal Credit Union Act is amended by striking out "nonmember units of Federal, State, or local governments and political subdivisions thereof enumerated in section 207 of this Act" and inserting in lieu thereof "nonmember units of Federal, Indian tribal, State, or local governments and political subdivisions thereof enumerated in section 207 of this Act". (e) The amendments made by subsections (a) through (d) are not applicable to any claim arising out of the closing of a bank, savings and loan association, or credit union prior to the date of enactment of this Act, but shall be applicable to any such claim arising on or after such date. (f) Section 5153 of the Revised Statutes is amended by adding at the end thereof the following paragraph: "Any national banking association may, upon the deposit with it of any funds by any federally recognized Indian tribe, or any officer, employee, or agent thereof in his or her official capacity, give security for the safekeeping and prompt payment of the funds so deposited by the deposit of United States bonds and otherwise as may be prescribed by the Secretary of the Treasury for public funds under the first paragraph of this section.".

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