Page:United States Statutes at Large Volume 105 Part 1.djvu/88

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105 STAT. 60 PUBLIC LAW 102-18—MAR. 23, 1991 enactment of this Act shall be provided to the appropriate committees of Congress not later than 30 days following enactment of this Act. Failure to provide such information as required by this paragraph shall be considered as a delinquency under the provisions of paragraph (1). SEC. 103. STATUS OF EMPLOYEES. (a) RESOLUTION TRUST CORPORATION. —Section 21A of the Federal Home Loan Bank Act (12 U.S.C. 1441a) is amended by adding at the end the following new subsection: "(q) STATUS OF EMPLOYEES. — "(1) LiABiliTY.—A director, member, officer, or employee of the Corporation or of the Oversight Board has no liability under the Securities Act of 1933 with respect to any claim arising out of or resulting from any act or omission by such person within the scope of such person's employment in connection with any transaction involving the disposition of assets (or any interests in any assets or any obligations backed by any assets) by the Corporation. This subsection shall not be construed to limit personal liability for criminal acts or omissions, willful or malicious misconduct, acts or omissions for private gain, or any other acts or omissions outside the scope of such person's employment. "(2) DEFINITION. —For purposes of this subsection, the term 'employee of the Corporation or of the Oversight Board' includes— "(A) any employee of the Office of the Comptroller of the Currency or of the Office of Thrift Supervision who serves as a deputy or assistant to a member of the Board of Directors of the Corporation; and "(B) any officer or employee of the Federal Deposit Insurance Corporation who performs services for the Corporation on behalf of the Federal Deposit Insurance Corporation, acting as exclusive manager. "(3) EFFECT ON OTHER LAW.—T h is subsection does not affect— "(A) any other immunities and protections that may be available under applicable law with respect to such transactions, or "(B) any other right or remedy against the Corporation, against the United States under applicable law, or against any person other than a person described in paragraph (1) participating in such transactions. This subsection shall not be construed to limit or alter in any way the immunities that are available under applicable law for Federal officials and employees not described in this subsection.". (b) FEDERAL DEPOSIT INSURANCE CORPORATION. —Section 2 of the Federal Deposit Insurance Act (12 U.S.C. 1812) is amended by adding at the end the following new subsection: " (f) STATUS OF EMPLOYEES. — "(1) IN GENERAL. —A director, member, officer, or employee of the Corporation has no liability under the Securities Act of 1933 with respect to any claim arising out of or resulting from any act or omission by such person within the scope of such person's employment in connection with any transaction involving the disposition of assets (or any interests in any assets or any obligations backed by any assets) by the Corporation. This