Page:United States Statutes at Large Volume 74.djvu/590

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[74 Stat. 550]
[74 Stat. 550]
PUBLIC LAW 86-000—MMMM. DD, 1960

550

PUBLIC LAW 86-671-JULY 14, 1960

[74 S T A T.

" (A) either by adding the amount of all deposits of the type described in subparagraph (5)(B) or, if the bank elects to ascertain the respective amounts of such deposits creditable to time and savings deposits and to demand deposits, by adding the amount creditable to time and savings deposits; " (B) by subtracting, if the bank elects to ascertain the respective amounts of its items of the type described in subparagraph (6)(A) chargeable against time and savings deposits and against demand deposits, the amount chargeable against time and savings deposits; and " (C) by subtracting the amount of all deposits of the type described in subparagraph (6)(B). "(8) The term 'the bank's adjusted demand deposits' means the amount of the bank's demand deposits as reported in its report of condition, as adjusted— " (A) by adding the amount of all deposits of the type described in subparagraph (5)(A); " (B) by adding, if the bank elects to ascertain the respective amounts of its deposits of the type described in subparagraph (5)(B) creditable to time and savings deposits and to demand deposits, the amount creditable to demand deposits; and " (C) either by subtracting the amount of all items of the type described in subparagraph (6)(A), or, if the bank elects to ascertain the respective amounts of such items chargeable against time and savings deposits and against demand deposits, by subtracting the amount chargeable agamst demand deposits. " (c)(1) On or before the last day of the first month following each semiannual period, each insured bank which became insured prior to the beginning of such period shall file with the Corporation a certified statement showing its average assessment base for such period, and the amount of the semiannual assessment due to the Corporation for the semiannual period which begins with such month. Each such bank shall pay to the Corporation the amount of the semiannual assessment it is required to certify. "(2) A bank shall not be required to pay any assessment for the semiannual period in which it becomes an insured bank. On or before the last day of the first month following the semiannual period during which any bank becomes an insured bank, such bank shall— " (A) file with the Corporation a certified statement showing, as its assessment base for such period, its assessment base for the last date, if any, within such period for which it was required to submit a report of condition, or " (B) if such bank became an insured bank after the last date in such period for which a report of condition was required, such bank shall make a special report of condition as of the last day of such semiannual period, and shall file with the Corporation a certified statement showing, as its assessment base for such period, its assessment base for the date of such special report. The semiannual assessment due from such bank for the semiannual period which begins with such month shall be equal to one-half the annual assessment rate multiplied by the assessment base computed pursuant to subparagraph (A) or (B) of this paragraph, and the amount of such assessment shall be shown on such certified statement. Each such bank shall pay to the Corporation the amount of the semiannual assessment it is required to certify. "(3) The certified statements required to be filed with the Corporation under paragraphs (1) and (2) of this subsection shall be in such form and set forth such supporting information as the Board