§ 1831h. — Savings Association Insurance Fund Industry Advisory Committee.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC1831h]
TITLE 12--BANKS AND BANKING
CHAPTER 16--FEDERAL DEPOSIT INSURANCE CORPORATION
Sec. 1831h. Savings Association Insurance Fund Industry Advisory
Committee
(a) Establishment
There is hereby established the Savings Association Insurance Fund
Industry Advisory Committee (hereinafter referred to in this section as
the ``Committee'').
(b) Membership
The Committee shall consist of 18 members, appointed as follows:
(1) 1 member elected from each Federal home loan bank district
(by the members of the board of directors of each such bank who were
elected by the members of such bank) from among individuals residing
therein who are officers of insured depository institutions that are
Savings Association Insurance Fund members.
(2) 6 members appointed by the Corporation from among
individuals who shall represent the public interest.
(c) Vacancies
Any vacancy on the Committee shall be filled in the same manner in
which the original appointment was made.
(d) Pay and expenses
Members of the Committee shall serve without pay, but each member
shall be reimbursed, in such manner as the Corporation shall prescribe
by regulation, for expenses incurred in connection with attendance of
such members at meetings of the Committee.
(e) Terms
Members shall be appointed or elected for terms of 1 year.
(f) Authority of Committee
The Committee may select its Chairperson, Vice Chairperson, and
Secretary, and adopt methods of procedure, and shall have power--
(1) to confer with the Board of Directors on general and special
business conditions and regulatory and other matters affecting
insured financial institutions that are members of the Savings
Association Insurance Fund; and
(2) to request information, and to make recommendations, with
respect to matters within the jurisdiction of the Corporation.
(g) Meetings
The Committee shall meet 4 times each year, and more frequently if
requested by the Corporation.
(h) Reports
The Committee shall submit a semiannual written report to the
Committee on Banking, Finance and Urban Affairs of the House and to the
Committee on Banking, Housing, and Urban Affairs of the Senate. Such
report shall describe the activities of the Committee for such
semiannual period and contain such recommendations as the Committee
considers appropriate.
(i) Provision of staff and other resources
The Corporation shall provide the Committee with the use of such
resources, including staff, as the Committee reasonably shall require to
carry out its duties, including the preparation and submission of
reports to Congress, under this section.
(j) Federal Advisory Committee Act does not apply
The Federal Advisory Committee Act shall not apply to the Committee.
(k) Sunset
The Committee shall cease to exist 10 years after August 9, 1989.
(Sept. 21, 1950, ch. 967, Sec. 2[31], as added Pub. L. 101-73, title II,
Sec. 226, Aug. 9, 1989, 103 Stat. 276; amended Pub. L. 103-325, title
VI, Sec. 602(a)(60), Sept. 23, 1994, 108 Stat. 2291; Pub. L. 104-208,
div. A, title II, Sec. 2704(d)(14)(Y), Sept. 30, 1996, 110 Stat. 3009-
494.
References in Text
The Federal Advisory Committee Act, referred to in subsec. (j), is
Pub. L. 92-463, Oct. 6, 1972, 86 Stat. 770, as amended, which is set out
in the Appendix to Title 5, Government Organization and Employees.
Amendments
1996--Pub. L. 104-208, which directed repeal of section, was not
executed. See Effective Date of 1996 Amendment note below.
1994--Subsec. (b)(1). Pub. L. 103-325 substituted ``board of
directors'' for ``Board of Directors''.
Change of Name
Committee on Banking, Finance and Urban Affairs of House of
Representatives treated as referring to Committee on Banking and
Financial Services of House of Representatives by section 1(a) of Pub.
L. 104-14, set out as a note preceding section 21 of Title 2, The
Congress. Committee on Banking and Financial Services of House of
Representatives abolished and replaced by Committee on Financial
Services of House of Representatives, and jurisdiction over matters
relating to securities and exchanges and insurance generally transferred
from Committee on Energy and Commerce of House of Representatives by
House Resolution No. 5, One Hundred Seventh Congress, Jan. 3, 2001.
Effective Date of 1996 Amendment
Amendment by Pub. L. 104-208, repealing this section, effective Jan.
1, 1999, if no insured depository institution is a savings association
on that date, see section 2704(c) of Pub. L. 104-208, set out as a note
under section 1821 of this title.
