2010—Subsec. (d). Pub. L. 111–203, § 939(a)(2)(A), struck out “not of investment grade” after “securities” in heading.

Subsec. (d)(1). Pub. L. 111–203, § 939(a)(2)(B), substituted “that does not meet standards of credit-worthiness as established by the Corporation” for “not of investment grade”.

Subsec. (d)(2). Pub. L. 111–203, § 939(a)(2)(C), struck out “not of investment grade” after “security”.

Subsec. (d)(3). Pub. L. 111–203, § 939(a)(2)(D), (E), redesignated par. (4) as (3) and struck out former par. (3). Prior to amendment, text of par. (3) read as follows:

“(A) In general.—The Corporation shall require any savings association or any subsidiary of any savings association to divest any corporate debt security not of investment grade the retention of which is not permissible under paragraph (1) as quickly as can be prudently done, and in any event not later than July 1, 1994.

“(B) Treatment of noncompliance during divestment.—With respect to any corporate debt security not of investment grade held by any savings association or subsidiary on August 9, 1989, the savings association or subsidiary shall be deemed not to be in violation of the prohibition in paragraph (1) on retaining such investment so long as the association or subsidiary complies with any applicable requirement established by the Corporation pursuant to subparagraph (A) for divesting such securities.”

Subsec. (d)(3)(A). Pub. L. 111–203, § 939(a)(2)(F)(i), (ii), redesignated subpar. (B) as (A) and struck out former subpar. (A). Prior to amendment, text of subpar. (A) read as follows: “Any corporate debt security is not of ‘investment grade’ unless that security, when acquired by the savings association or subsidiary, was rated in one of the 4 highest rating categories by at least one nationally recognized statistical rating organization.”

Subsec. (d)(3)(B). Pub. L. 111–203, § 939(a)(2)(F)(iii), substituted “that does not meet standards of credit-worthiness as established by the Corporation” for “not of investment grade”.

Pub. L. 111–203, § 939(a)(2)(F)(ii), redesignated subpar. (C) as (B). Former subpar. (B) redesignated (A).

Subsec. (d)(3)(C). Pub. L. 111–203, § 939(a)(2)(F)(ii), redesignated subpar. (C) as (B).

Subsec. (d)(4). Pub. L. 111–203, § 939(a)(2)(E), redesignated par. (4) as (3).

Subsec. (e). Pub. L. 111–203, § 939(a)(3)(A), struck out “not of investment grade” after “security” in heading.

Subsec. (e)(1). Pub. L. 111–203, § 939(a)(3)(B), substituted “that does not meet standards of credit-worthiness as established by the Corporation” for “not of investment grade” in introductory provisions.

Subsec. (e)(2)(A)(ii). Pub. L. 111–203, § 363(9)(A)(i)(I), substituted “Comptroller of the Currency or the Corporation, as appropriate” for “Director of the Office of Thrift Supervision”.

Subsec. (e)(2)(B). Pub. L. 111–203, § 939(a)(3)(C), substituted “that does not meet standards of credit-worthiness established by the Corporation” for “not of investment grade”.

Subsec. (e)(2)(C). Pub. L. 111–203, § 939(a)(3)(C), substituted “that does not meet standards of credit-worthiness established by the Corporation” for “not of investment grade”.

Pub. L. 111–203, § 363(9)(A)(i)(II), substituted “Comptroller of the Currency or the Corporation, as appropriate,” for “Director of the Office of Thrift Supervision”.

Subsec. (e)(2)(D), (E). Pub. L. 111–203, § 939(a)(3)(C), substituted “that does not meet standards of credit-worthiness established by the Corporation” for “not of investment grade”.

Subsec. (e)(2)(F). Pub. L. 111–203, § 363(9)(A)(i)(III), substituted “Comptroller of the Currency or the Corporation, as appropriate” for “Director of the Office of Thrift Supervision” in introductory provisions.

Subsec. (e)(2)(F)(ii). Pub. L. 111–203, § 939(a)(3)(C), substituted “that does not meet standards of credit-worthiness established by the Corporation” for “not of investment grade”.

Subsec. (e)(2)(G). Pub. L. 111–203, § 939(a)(3)(C), substituted “that does not meet standards of credit-worthiness established by the Corporation” for “not of investment grade” in two places.

Subsec. (e)(3)(A). Pub. L. 111–203, § 939(a)(3)(C), substituted “that does not meet standards of credit-worthiness established by the Corporation” for “not of investment grade”.

Pub. L. 111–203, § 363(9)(A)(ii)(I), substituted “Comptroller of the Currency or the Corporation, as appropriate” for “Director of the Office of Thrift Supervision”.

Subsec. (e)(3)(B). Pub. L. 111–203, § 939(a)(3)(C), substituted “that does not meet standards of credit-worthiness established by the Corporation” for “not of investment grade”.

Pub. L. 111–203, § 363(9)(A)(ii)(II), substituted “Comptroller of the Currency or the Corporation, as appropriate,” for “Director of the Office of Thrift Supervision” in introductory provisions.

Subsec. (h)(2). Pub. L. 111–203, § 363(9)(B), substituted “Comptroller of the Currency, of the Corporation,” for “Director of the Office of Thrift Supervision”.

2006—Subsecs. (a)(1), (b)(1), (c)(2)(A). Pub. L. 109–173 substituted “Deposit Insurance Fund” for “affected deposit insurance fund”.

Pub. L. 109–171 repealed Pub. L. 104–208, § 2704(d)(14)(X). See 1996 Amendment note below.

1996—Subsecs. (a)(1), (b)(1), (c)(2)(A). Pub. L. 104–208, § 2704(d)(14)(X), which directed substitution of “Deposit Insurance Fund” for “affected deposit insurance fund”, was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.

1994—Subsec. (c)(2)(A)(i). Pub. L. 103–325, § 602(a)(56), substituted “; or” for “, or”.

Subsec. (d)(4)(C). Pub. L. 103–325, § 602(a)(57), substituted “subparagraph” for “subparagraphs”.

Subsec. (e)(4). Pub. L. 103–325, § 602(a)(58), substituted “and any other” for “any other”.

1991—Subsecs. (h), (i). Pub. L. 102–242 redesignated subsec. (i) as (h) and struck out former subsec. (h) which required that all savings associations with uninsured deposits disclose in clear and conspicuous statements that its deposits were not insured.

Amendment by section 363(9) of Pub. L. 111–203 effective on the transfer date, see section 351 of Pub. L. 111–203, set out as a note under section 906 of Title 2, The Congress.

Amendment by section 939(a)(2), (3) of Pub. L. 111–203 effective 2 years after July 21, 2010, see section 939(g) of Pub. L. 111–203, set out as a note under section 24a of this title.

Amendment by Pub. L. 109–173 effective Mar. 31, 2006, see section 8(b) of Pub. L. 109–173, set out as a note under section 1813 of this title.

Amendment by Pub. L. 109–171 effective no later than the first day of the first calendar quarter that begins after the end of the 90-day period beginning Feb. 8, 2006, see section 2102(c) of Pub. L. 109–171, set out as a Merger of BIF and SAIF note under section 1821 of this title.

Amendment by Pub. L. 104–208 effective Jan. 1, 1999, if no insured depository institution is a savings association on that date, see section 2704(c) of Pub. L. 104–208, formerly set out as a note under section 1821 of this title.

Pub. L. 102–242, title I, § 151(a)(3), Dec. 19, 1991, 105 Stat. 2284, provided that the amendment made by that section is effective 1 year after Dec. 19, 1991.