110 STAT. 3009-479 PUBLIC LAW 104-208—SEPT. 30, 1996
" (e) PROHIBITION ON CERTAIN ASSOCIATIONS. —
"(1) IN GENERAL. — No insured credit union may be sponsored by or accept financial support, directly or indirectly, from
any Government-sponsored enterprise, if the credit union
includes the customers of the Government-sponsored enterprise
in the field of membership of the credit union.
"(2) ROUTINE BUSINESS FINANCING. — Paragraph (1) shall
not apply with respect to advances or other forms of financial
assistance generally provided by a Government-sponsored
enterprise in the ordinary course of business of the enterprise.
" (3) GOVERNMENT-SPONSORED ENTERPRISE DEFINED. —For
purposes of this subsection, the term 'Government-sponsored
enterprise' has the meaning given to such term in section
1404(e)(1)(A) of the Financial Institutions Reform, Recovery,
and Enforcement Act of 1989.
"(4) EMPLOYEE CREDIT UNION.— NO provision of this subsection shall be construed as prohibiting any employee of a
Government-sponsored enterprise from becoming a member of
a credit union whose field of membership is the employees
of such enterprise.".
(b) BANKS AND SAVINGS ASSOCIATIONS. —Section 18 of the Federal Deposit Insurance Act (12 U.S.C. 1828) is amended by adding
at the end the following new subsection:
" (s) PROHIBITION ON CERTAIN AFFILIATIONS. —
"(1) IN GENERAL.—No depository institution may be an
affiliate of, be sponsored by, or accept financial support, directly
or indirectly, from any Government-sponsored enterprise.
" (2) EXCEPTION FOR MEMBERS OF A FEDERAL HOME LOAN
BANK.— Paragraph (1) shall not apply with respect to the membership of a depository institution in a Federal home loan
bank.
"(3) ROUTINE BUSINESS FINANCING. — Paragraph (1) shall
not apply with respect to advances or other forms of financial
assistance provided by a Government-sponsored enterprise
pursuant to the statutes governing such enterprise.
"(4) GOVERNMENT-SPONSORED ENTERPRISE DEFINED. —For
purposes of this subsection, the term 'Government-sponsored
enterprise' has the meaning given to such term in section
1404(e)(1)(A) of the Financial Institutions Reform, Recovery,
and Enforcement Act of 1989.".
12 USC 1781
(c) EFFECTIVE DATE. —The amendments made by this section
note.
shall apply on and after January 1, 1996.
Deposit
Subtitle G—Deposit Insurance Funds
Insurance Funds
Act of 1996.
12 USC 1811
SEC. 2701. SHORT TITLE.
This subtitle may be cited as the "Deposit Insurance Funds
Act of 1996".
note.
12 USC 1817
SEC. 2702. SPECIAL ASSESSMENT TO CAPITAUZE SAIF.
(a) IN GENERAL.— Except as provided in subsection (f), the
Board of Directors of the Federal Deposit Insurance Corporation
shall impose a special assessment on the SAIF-assessable deposits
of each insured depository institution in accordance with assessment
regulations of the Corporation at a rate applicable to all such
�
