PUBLIC LAW 106-569—DEC. 27, 2000 114 STAT. 3037 (b) EFFECTIVE DATE.— The amendments made by subsection 12 USC 1817 (a) shall be deemed to have the same effective date as section ^ote- 2707 of the Deposit Insurance Funds Act of 1996 (Public Law 104-208; 110 Stat. 3009-496). SEC. 1232. RULES FOR CONTINUATION OF DEPOSIT INSURANCE FOR MEMBER BANKS CONVERTING CHARTERS. Section 8(o) of the Federal Deposit Insurance Act (12 U.S.C. 1818(o)) is amended in the second sentence, by striking "subsection (d) of section 4" and inserting "subsection (c) or (d) of section 4". SEC. 1233. AMENDMENTS TO THE REVISED STATUTES OF THE UNITED STATES. (a) WAIVER OF CITIZENSHIP REQUIREMENT FOR NATIONAL BANK DIRECTORS,—Section 5146 of the Revised Statutes of the United States (12 U.S.C. 72) is amended in the first sentence, by inserting before the period ", and waive the requirement of citizenship in the case of not more than a minority of the total number of directors". (b) TECHNICAL AMENDMENT TO THE REVISED STATUTES.—Section 329 of the Revised Statutes of the United States (12 U.S.C. 11) ik amended by striking "to be interested in any association issuing national currency under the laws of the United States" and inserting "to hold an interest in any national bank". (c) REPEAL OF UNNECESSARY CAPITAL AND SURPLUS REQUIRE- MENT.— Section 5138 of the Revised Statutes of the United States (12 U.S.C. 51) is hereby repealed. SEC. 1234. CONFORMING CHANGE TO THE INTERNATIONAL BANKING ACT OF 1978. Section 4(b) of the International Banking Act of 1978 (12 U.S.C. 3102(b)) is amended in the second sentence, by striking paragraph (1) and by redesignating paragraphs (2) through (4) as paragraphs (1) through (3), respectively. Approved December 27, 2000. LEGISLATIVE HISTORY—H.R. 5640 (H.R. 1776): HOUSE REPORTS: Nos. 106-553 and Pt. 2 accompanying H.R. 1776 (Comm. Banking and Financial Services). CONGRESSIONAL RECORD, Vol. 146 (2000): Dec. 5, considered and passed House. Dec. 7, considered and passed Senate.
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