§ 1466a. — District associations.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC1466a]
TITLE 12--BANKS AND BANKING
CHAPTER 12--SAVINGS ASSOCIATIONS
Sec. 1466a. District associations
(a) In general
The Director shall, with respect to all incorporated or
unincorporated building, building or loan, building and loan, or
homestead associations, and similar institutions, of or transacting or
doing business in the District of Columbia, or maintaining any office in
the District of Columbia (other than Federal savings associations), have
the same powers and functions as to examination, operation, and
regulation as the Director has with respect to Federal savings
associations.
(b) Additional powers
Any such association or institution incorporated under the laws of,
or organized in, the District of Columbia shall have in addition to any
existing statutory authority such statutory authority as is vested in
Federal savings associations.
(c) Charter amendments
Charters, certificates of incorporation, articles of incorporation,
constitutions, bylaws, or other organic documents of associations or
institutions referred to in subsection (b) of this section may, without
regard to anything contained therein or otherwise, be amended in such
manner and to such extent and upon such votes if any as the Director may
by regulation or otherwise provide.
(d) Limitation
Nothing in this section shall cause, or permit the Director to
cause, District of Columbia associations to be or become Federal savings
associations, or require the Director to impose on District of Columbia
associations the same regulations as are imposed on Federal savings
associations.
(June 13, 1933, ch. 64, Sec. 8, as added Pub. L. 91-609, title IX,
Sec. 913, Dec. 31, 1970, 84 Stat. 1815; amended Pub. L. 101-73, title
III, Sec. 301, Aug. 9, 1989, 103 Stat. 315.)
Prior Provisions
A prior section 8 of act June 13, 1933, ch. 64, 48 Stat. 134, was
classified to section 1467 of this title, prior to repeal by act June
25, 1948, ch. 645, Sec. 21, 62 Stat. 862, eff. Sept. 1, 1948.
Amendments
1989--Pub. L. 101-73 amended section generally, substituting
provisions relating to Director and Federal savings associations for
former provisions relating to Federal Home Loan Bank Board and Federal
savings and loan associations.
Section Referred to in Other Sections
This section is referred to in title 15 section 78c.
