§ 4311. — Credit unions.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC4311]
TITLE 12--BANKS AND BANKING
CHAPTER 44--TRUTH IN SAVINGS
Sec. 4311. Credit unions
(a) In general
No regulation prescribed by the Board under this chapter shall apply
directly with respect to any depository institution described in clause
(iv) of section 461(b)(1)(A) of this title.
(b) Regulations prescribed by NCUA
Within 90 days of the effective date of any regulation prescribed by
the Board under this chapter, the National Credit Union Administration
Board shall prescribe a regulation substantially similar to the
regulation prescribed by the Board taking into account the unique nature
of credit unions and the limitations under which they may pay dividends
on member accounts.
(Pub. L. 102-242, title II, Sec. 272, Dec. 19, 1991, 105 Stat. 2342;
Pub. L. 102-550, title XVI, Sec. 1604(e)(2)(P), (Q), Oct. 28, 1992, 106
Stat. 4084.)
Amendments
1992--Pub. L. 102-550 made technical amendment to references to
``this chapter'' wherever appearing to reflect correction of
corresponding provision of original act.
Effective Date of 1992 Amendment
Amendment by Pub. L. 102-550 effective as if included in the Federal
Deposit Insurance Corporation Improvement Act of 1991, Pub. L. 102-242,
as of Dec. 19, 1991, see section 1609(a) of Pub. L. 102-550, set out as
a note under section 191 of this title.
Section Referred to in Other Sections
This section is referred to in section 4308 of this title.
