Page:United States Statutes at Large Volume 95.djvu/1541

 PUBLIC LAW 97-110—DEC. 26, 1981

95 STAT. 1515

MORTGAGE LOAN PURCHASES FROM THE FEDERAL DEPOSIT INSURANCE CORPORATION AND THE NATIONAL CREDIT UNION ADMINISTRATION

SEC. 203. Subsections (a)(1) and (b) of section 305 of the Federal Home Loan Mortgage Corporation Act (12 U.S.C. 1454) are amended by inserting "the Federal Deposit Insurance Corporation, the National Credit Union Administration," after "Federal Savings and Loan Insurance Corporation," each place it appears. TITLE III—MISCELLANEOUS SEC. 301. Section 625(a) of the Depository Institutions Deregulation and Monetary Control Act of 1980 is amended to read as follows: "SEC. 625. (a) Except as provided in section 608(b), the amendments made by this title shall take effect upon the expiration of two years and six months after the date of enactment of this title.". SEC. 302. Section 206 of the Depository Institution Management Interlocks Act is amended to read as follows: "SEC. 206. (a) A person whose service in a position as a management official began prior to the date of enactment of this title and who was not immediately prior to the date of enactment of this title in violation of section 8 of the Clayton Act is not prohibited by section 203 or section 204 of this title from continuing to serve in that ptosition for a period of ten years after the date of enactment of this title. The appropriate Federal banking agency (as set forth in section 209) may provide a reasonable period of time for compliance with this title, not exceedingfifteenmonths, aiter any change in circumstances which makes service described in the preceding sentence prohibited by this title, except that a merger, acquisition, increase in total assets, establishment of one or more offices, or change in management responsibilities shall not constitute changes in circumstances which would make such service prohibited by section 203 or section 204 of this title. "0)) Effective on the date of enactment of this title, a person who serves aa a management official of a company which is not a depository institution or a depository holding company and as a management official of a depositonr institution or a depository holding company is not prohibited m>m continuing to serve as a management official of that depository institution or depository holding company as a result of that company which is not a depository institution or depository holding company becoming a diversified savings and loan holding company as that term is defined in section 408(a) of the National Housing Act. This subsection shall expire ten years after the date of enactment of this title.". SEC. 303. Section 313 of the Depository Institutions Deregulation and Monetary Control Act of 1980 is amended to read as follows:

15 USC 1602 15 ygc 1607 note. 12 USC 3205.

15 USC 19. J2 USC 3202, ^2"^12 USC 3207.

12 USC I730a. Expiration. 94 Stat. I5i.

"ALASKA USA FEDERAL CREDIT UNION

"SEC. 313. The provisions of section 5 of the charter of the Alaska USA Federal Credit Union which would terminate the eligibility for membership in the Credit Union of the enrollees and employees of certain corporations shall not be effective.". SEC. 304. The fourth sentence of section 235(h)(l) of the National Housing Act is amended— Ante, p. 407. (1) by inserting "(i)" after "except"; (2) by striking out "or" after "March 31, 1982," the second place it appears and inserting in lieu thereof "(ii)"; and

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