Page:United States Statutes at Large Volume 96 Part 2.djvu/1149

 PUBLIC LAW 97-457—JAN. 12, 1983

96 STAT. 2511

amended by striking out "paragraphs (2) and (3)" in paragraph (1) and inserting in lieu thereof "paragraph (2)". SEC. 30. The first sentence of section 4(c)(8) of the Bank Holding Company Act of 1956 (12 U.S.C. 1843(c)(8)), as amended by section 601 of Public Law 97-320, is amended— (1) by inserting ": Provided, however, That such a bank holding company and its subsidiaries may not engage in the sale of life insurance or annuities except as provided in subparagraph (A), (B), or (C)" before "; or (G)"; and (2) by striking out the proviso at the end thereof. SEC. 31. Section 701(c) of Public Law 97-320 is amended— (1) by striking out "both"; and (2) by inserting ", on," after "prior to". SEC. 32, (a) Section l(b)(4) of the Bank Service Corporation Act (12 U.S.C. 1861(b)(4)), as amended by section 709 of Public Law 97-320, is amended— (1) by striking out "or another" after "insured bank," and inserting in lieu thereof "a"; and (2) by inserting before the final semicolon the following: ", or a financial institution the accounts or deposits of which are insured or guaranteed under State law and are eligible to be insured by the Federal Deposit Insurance Corporation, the Federal Savings and Loan Insurance Corporation, or the National Credit Union Administration Board". (b) The Bank Service Corporation Act, as amended by section 709 of Public Law 97-320, is amended— (1) by striking out "the Financial Institutions Supervisory Act of 1966 (12 U.S.C. 1818(b) et seq.)" in section 7(b) and inserting in lieu thereof the following: "section 8 of the Federal Deposit Insurance Act (12 U.S.C. 1818)"; and (2) by striking out "under this Act" in subsections (d) and (e) of section 4 and inserting in lieu thereof "under the law of the United States". SEC. 33. Section 414(a) of the National Housing Act (12 U.S.C. 1730c) is amended by inserting "(which, for the purpose of this section, shall include a Federal association the deposits of which are insured by the Federal Deposit Insurance Corporation)" after "insured institution" the first place it appears. Approved January 12, 1983.

LEGISLATIVE HISTORY—S. J. Res. 271: CONGRESSIONAL RECORD, Vol. 128 (1982): Dec. 16, considered and passed Senate. Dec. 21, considered and passed House, amended; Senate agreed to House amendments.

Ante, p. 1536.

Ante, p. 1538. Ante, p. 1540.

Ante, p. 1540.

12 USC I730g.

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