Page:United States Statutes at Large Volume 107 Part 3.djvu/471

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PUBLIC LAW 103-204—DEC. 17, 1993 107 STAT. 2409 "(i) SHOWING.— Rule 65 of the Federal Rules of Civil Procedure shall apply with respect to any proceeding under subparagraph (A) without regara to the requirement of such nue that the applicant show that the ii\jury, loss, or damage is irrepeurable and immediate. "(ii) STATE PROCEEDING.— If, in the case of any proceeding in a State court, the court determines that rules of civil procedure available under the laws of such State provide substantially similar protections to a party's right to due process as Rule 65 (as modified with respect to such proceeding by clause (i)), the relief sought under subparagraph (A) may be requested un&r the laws of such State."; and (2) in subsection (b), by adding at the end the following new paragraph:

  • X10) STANDARD FOR CERTAIN ORDERS.— NO authority under

this subsection or subsection (c) to prohibit any institutionaffiliated party from withdrawing, transferring, removing, dissipating, or disposing of any funds, assets, or other property may be exercised unless the appropriate Federal oanking agency meets the standards of Rule 65 of the Federal Rules of Civil Procedure, without regard to the requirement of such rule that the applicant show that the ii\jury, loss, or damage is irreparable and immediate.". SEC. 26. GAO STUDIES REGARDING FEDERAL REAL PROPERTY DIS- POSITION. (a) RTC AFPORDABLF] HOUSING PROGRAM. — (1) STUDY. —The Comptroller General of the United States shall conduct a study of the program carried out by the Resolution Trust Corporation pursuant to section 21A(c) of the Federal Home Loan Bank Act to determine the effectiveness of such program in providing affordable homeownership and rental housing for very low-, low-, and moderate-income families. The study shall examine the procedures used under the program to sell eligible single family properties, eligible condominium properties, and eligible multifamily housing properties, the characteristics and numbers of purchasers of such properties, and the amount of and reasons for any losses incurred by the Resolution Trust Corporation in selling properties under the program. (2) REPORT.— Nbt later than 6 months after the date of enactment of this Act, the Comptroller General shall submit a report to the Congress on the resulte of the study required under paragraph (1), which shall describe any findings under the study and contain any recommendations of the Comptroller General for improving the effectiveness of such program. (b) SINGLE AGENCY FOR REAL PROPERTY DISPOSITION. — 12 USC 1821 (1) STUDY.— The Comptroller General of the United States shall conduct a study to determine the feasibility and effectiveness of esteblishing a single Federal agency responsible for selling and otherwise disposing of real property owned or held by the Department of Housing and Urban Development, the Farmers Home Administration of the Department of Agriculture, the Federal Deposit Insurance Corporation, and the Resolution Trust Corporation. The study shall examine the note.