101 STAT. 580
PUBLIC LAW 100-86—AUG. 10, 1987
voting stock of which is 80 percent owned by the same company shall not be subject— "(A) to the provisions of subsection (d) of this section as to transactions with such parent insured institution or aifiliate insured institutions (and their subsidiaries), or "(B) to the provisions of subsections (f) and (g). "(2) Low QUAUTY ASSETS.—An insured institution (or its subsidiary) may not purchase a low quality asset, as such term 12 USC 371c. is defined in section 23A of the Federal Reserve Act, from another insured institution (or its subsidiary) in a transaction exempted by this subsection and any transaction with another insured institution (or its subsidiary) under this subsection shall be on terms and conditions that are consistent with safe and sound financial practices. "(3) DEFINITION.—For purposes of this subsection, an 'insured r.^ institution' includes an institution that was chartered prior to October 15, 1982, as a savings bank or cooperative bank under State law and that is or becomes a savings and loan holding ^ company or is or becomes a subsidiary of a savings and loan sm ^.v, i ri^ holding company.".
Ante, p. 574.
26 USC 382.
SEC. 111. CONSIDERATION OF CERTAIN ACQUISITIONS. (a) AMENDMENT TO SECTION 408.—Section 408(e) of the National Housing Act (12 U.S.C. 1730a(e)) is amended— (1) by redesignating paragraph (4) as paragraph (5); (2) by inserting a new paragraph (4) to read as follows: "(4) CONSIDERATION OF LOSS OF CERTAIN TAX BENEFITS.— "(A) IN GENERAL.—In each case in which a filing of any type is required by this section, or regulations prescribed under this section, before the acquisition of stock of an insured institution, the Corporation, in evaluating such filing, may consider the likelihood that the proposed acquisition will result in the loss or reduction of the tax benefits of the insured institution's net operating loss carryforwards under section 382 of the Internal Revenue . 5,; f. Code of 1986.
100 Stat. 2095.
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"(g) REQUIRED CONSIDERATION IN CERTAIN CASES.—The
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Post, p. 613.
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Corporation shall, with respect to any acquisition, give consideration to the likelihood of future loss or reduction of the tax benefits of an insured institution's net operating loss carryforwards under section 382 of the Internal Revenue Code of 1986 if such net operating loss carryforwards result from the insured institution's acquisition of one or more insured institutions under subsection (m) of this sec» tion or section 406(f) or pursuant to acquisitions that are otherwise deemed to be supervisory cases by the Corporation. "(C) PERMITTED TRANSACTIONS.—Notwithstanding subparagraph (A) or (B), the Corporation may permit— "(i) acquisitions in which the proposed acquirer commits itself in writing to maintain the ratio of tangible equity capital to liabilities of the insured institution to be acquired, as determined in accordance with generally accepted accounting principles, in an amount equal to the ratio in existence at the time of filing with the Corporation,
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