§ 1842. — Acquisition of bank shares or assets.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC1842]
TITLE 12--BANKS AND BANKING
CHAPTER 17--BANK HOLDING COMPANIES
Sec. 1842. Acquisition of bank shares or assets
(a) Prior approval of Board as necessary; exceptions; disposition, time
extension; subsequent approval or disposition upon disapproval
It shall be unlawful, except with the prior approval of the Board,
(1) for any action to be taken that causes any company to become a bank
holding company; (2) for any action to be taken that causes a bank to
become a subsidiary of a bank holding company; (3) for any bank holding
company to acquire direct or indirect ownership or control of any voting
shares of any bank if, after such acquisition, such company will
directly or indirectly own or control more than 5 per centum of the
voting shares of such bank; (4) for any bank holding company or
subsidiary thereof, other than a bank, to acquire all or substantially
all of the assets of a bank; or (5) for any bank holding company to
merge or consolidate with any other bank holding company.
Notwithstanding the foregoing this prohibition shall not apply to (A)
shares acquired by a bank, (i) in good faith in a fiduciary capacity,
except where such shares are held under a trust that constitutes a
company as defined in section 1841(b) of this title and except as
provided in paragraphs (2) and (3) of section 1841(g) of this title, or
(ii) in the regular course of securing or collecting a debt previously
contracted in good faith, but any shares acquired after May 9, 1956, in
securing or collecting any such previously contracted debt shall be
disposed of within a period of two years from the date on which they
were acquired; (B) additional shares acquired by a bank holding company
in a bank in which such bank holding company owned or controlled a
majority of the voting shares prior to such acquisition; or (C) the
acquisition, by a company, of control of a bank in a reorganization in
which a person or group of persons exchanges their shares of the bank
for shares of a newly formed bank holding company and receives after the
reorganization substantially the same proportional share interest in the
holding company as they held in the bank except for changes in
shareholders' interests resulting from the exercise of dissenting
shareholders' rights under State or Federal law if--
(i) immediately following the acquisition--
(I) the bank holding company meets the capital and other
financial standards prescribed by the Board by regulation for
such a bank holding company; and
(II) the bank is adequately capitalized (as defined in
section 1831o of this title);
(ii) the holding company does not engage in any activities other
than those of managing and controlling banks as a result of the
reorganization;
(iii) the company provides 30 days prior notice to the Board and
the Board does not object to such transaction during such 30-day
period; and
(iv) the holding company will not acquire control of any
additional bank as a result of the reorganization..\1\
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\1\ So in original.
The Board is authorized upon application by a bank to extend, from time
to time for not more than one year at a time, the two-year period
referred to above for disposing of any shares acquired by a bank in the
regular course of securing or collecting a debt previously contracted in
good faith, if, in the Board's judgment, such an extension would not be
detrimental to the public interest, but no such extension shall in the
aggregate exceed three years. For the purpose of the preceding sentence,
bank shares acquired after December 31, 1970, shall not be deemed to
have been acquired in good faith in a fiduciary capacity if the
acquiring bank or company has sole discretionary authority to exercise
voting rights with respect thereto, but in such instances acquisitions
may be made without prior approval of the Board if the Board, upon
application filed within ninety days after the shares are acquired,
approves retention or, if retention is disapproved, the acquiring bank
disposes of the shares or its sole discretionary voting rights within
two years after issuance of the order of disapproval.
(b) Application for approval; notice to Comptroller of Currency or State
authority; views and recommendations; disapproval; hearing;
order of Board; nonaction deemed grant of application; procedure
in emergencies or probable failures requiring immediate Board
action and orders
(1) Notice and hearing requirements
Upon receiving from a company any application for approval under
this section, the Board shall give notice to the Comptroller of the
Currency, if the applicant company or any bank the voting shares or
assets of which are sought to be required \2\ is a national banking
association or a District bank, or to the appropriate supervisory
authority of the interested State, if the applicant company or any
bank the voting shares or assets of which are sought to be acquired
is a State bank, in order to provide for the submission of the views
and recommendations of the Comptroller of the Currency or the State
supervisory authority, as the case may be. The views and
recommendations shall be submitted within thirty calendar days of
the date on which notice is given, or within ten calendar days of
such date if the Board advises the Comptroller of the Currency or
the State supervisory authority that an emergency exists requiring
expeditious action. If the thirty-day notice period applies and if
the Comptroller of the Currency or the State supervisory authority
so notified by the Board disapproves the application in writing
within this period, the Board shall forthwith give written notice of
that fact to the applicant. Within three days after giving such
notice to the applicant, the Board shall notify in writing the
applicant and the disapproving authority of the date for
commencement of a hearing by it on such application. Any such
hearing shall be commenced not less than ten nor more than thirty
days after the Board has given written notice to the applicant of
the action of the disapproving authority. The length of any such
hearing shall be determined by the Board, but it shall afford all
interested parties a reasonable opportunity to testify at such
hearing. At the conclusion thereof, the Board shall, by order, grant
or deny the application on the basis of the record made at such
hearing. In the event of the failure of the Board to act on any
application for approval under this section within the ninety-one-
day period which begins on the date of submission to the Board of
the complete record on that application, the application shall be
deemed to have been granted. Notwithstanding any other provision of
this subsection, if the Board finds that it must act immediately on
any application for approval under this section in order to prevent
the probable failure of a bank or bank holding company involved in a
proposed acquisition, merger, or consolidation transaction, the
Board may dispense with the notice requirements of this subsection,
and if notice is given, the Board may request that the views and
recommendations of the Comptroller of the Currency or the State
supervisory authority, as the case may be, be submitted immediately
in any form or by any means acceptable to the Board. If the Board
has found pursuant to this subsection either that an emergency
exists requiring expeditious action or that it must act immediately
to prevent probable failure, the Board may grant or deny any such
application without a hearing notwithstanding any recommended
disapproval by the appropriate supervisory authority.
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\2\ So in original. Probably should be ``acquired''.
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(2) Waiver in case of bank in danger of closing
If the Board receives a certification described in section
1823(f)(8)(D) \3\ of this title from the appropriate Federal or
State chartering authority that a bank is in danger of closing, the
Board may dispense with the notice and hearing requirements of
paragraph (1) with respect to any application received by the Board
relating to the acquisition of such bank, the bank holding company
which controls such bank, or any other affiliated bank.
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\3\ See References in Text note below.
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(c) Factors for consideration by Board
(1) Competitive factors
The Board shall not approve--
(A) any acquisition or merger or consolidation under this
section which would result in a monopoly, or which would be in
furtherance of any combination or conspiracy to monopolize or to
attempt to monopolize the business of banking in any part of the
United States, or
(B) any other proposed acquisition or merger or
consolidation under this section whose effect in any section of
the country may be substantially to lessen competition, or to
tend to create a monopoly, or which in any other manner would be
in restraint or \4\ trade, unless it finds that the
anticompetitive effects of the proposed transaction are clearly
outweighed in the public interest by the probable effect of the
transaction in meeting the convenience and needs of the
community to be served.
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\4\ So in original. Probably should be ``of''.
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(2) Banking and community factors
In every case, the Board shall take into consideration the
financial and managerial resources and future prospects of the
company or companies and the banks concerned, and the convenience
and needs of the community to be served.
(3) Supervisory factors
The Board shall disapprove any application under this section by
any company if--
(A) the company fails to provide the Board with adequate
assurances that the company will make available to the Board
such information on the operations or activities of the company,
and any affiliate of the company, as the Board determines to be
appropriate to determine and enforce compliance with this
chapter; or
(B) in the case of an application involving a foreign bank,
the foreign bank is not subject to comprehensive supervision or
regulation on a consolidated basis by the appropriate
authorities in the bank's home country.
(4) Treatment of certain bank stock loans
Notwithstanding any other provision of law, the Board shall not
follow any practice or policy in the consideration of any
application for the formation of a one-bank holding company if
following such practice or policy would result in the rejection of
such application solely because the transaction to form such one-
bank holding company involves a bank stock loan which is for a
period of not more than twenty-five years. The previous sentence
shall not be construed to prohibit the Board from rejecting any
application solely because the other financial arrangements are
considered unsatisfactory. The Board shall consider transactions
involving bank stock loans for the formation of a one-bank holding
company having a maturity of twelve years or more on a case by case
basis and no such transaction shall be approved if the Board
believes the safety or soundness of the bank may be jeopardized.
(5) Managerial resources
Consideration of the managerial resources of a company or bank
under paragraph (2) shall include consideration of the competence,
experience, and integrity of the officers, directors, and principal
shareholders of the company or bank.
(6) Money laundering
In every case, the Board shall take into consideration the
effectiveness of the company or companies in combatting money
laundering activities, including in overseas branches.
(d) Interstate banking
(1) Approvals authorized
(A) Acquisition of banks
The Board may approve an application under this section by a
bank holding company that is adequately capitalized and
adequately managed to acquire control of, or acquire all or
substantially all of the assets of, a bank located in a State
other than the home State of such bank holding company, without
regard to whether such transaction is prohibited under the law
of any State.
(B) Preservation of State age laws
(i) In general
Notwithstanding subparagraph (A), the Board may not
approve an application pursuant to such subparagraph that
would have the effect of permitting an out-of-State bank
holding company to acquire a bank in a host State that has
not been in existence for the minimum period of time, if
any, specified in the statutory law of the host State.
(ii) Special rule for State age laws specifying a
period of more than 5 years
Notwithstanding clause (i), the Board may approve,
pursuant to subparagraph (A), the acquisition of a bank that
has been in existence for at least 5 years without regard to
any longer minimum period of time specified in a statutory
law of the host State.
(C) Shell banks
For purposes of this subsection, a bank that has been
chartered solely for the purpose of, and does not open for
business prior to, acquiring control of, or acquiring all or
substantially all of the assets of, an existing bank shall be
deemed to have been in existence for the same period of time as
the bank to be acquired.
(D) Effect on State contingency laws
No provision of this subsection shall be construed as
affecting the applicability of a State law that makes an
acquisition of a bank contingent upon a requirement to hold a
portion of such bank's assets available for call by a State-
sponsored housing entity established pursuant to State law, if--
(i) the State law does not have the effect of
discriminating against out-of-State banks, out-of-State bank
holding companies, or subsidiaries of such banks or bank
holding companies;
(ii) that State law was in effect as of September 29,
1994;
(iii) the Federal Deposit Insurance Corporation has not
determined that compliance with such State law would result
in an unacceptable risk to the appropriate deposit insurance
fund; and
(iv) the appropriate Federal banking agency for such
bank has not found that compliance with such State law would
place the bank in an unsafe or unsound condition.
(2) Concentration limits
(A) Nationwide concentration limits
The Board may not approve an application pursuant to
paragraph (1)(A) if the applicant (including all insured
depository institutions which are affiliates of the applicant)
controls, or upon consummation of the acquisition for which such
application is filed would control, more than 10 percent of the
total amount of deposits of insured depository institutions in
the United States.
(B) Statewide concentration limits other than with respect to
initial entries
The Board may not approve an application pursuant to
paragraph (1)(A) if--
(i) immediately before the consummation of the
acquisition for which such application is filed, the
applicant (including any insured depository institution
affiliate of the applicant) controls any insured depository
institution or any branch of an insured depository
institution in the home State of any bank to be acquired or
in any host State in which any such bank maintains a branch;
and
(ii) the applicant (including all insured depository
institutions which are affiliates of the applicant), upon
consummation of the acquisition, would control 30 percent or
more of the total amount of deposits of insured depository
institutions in any such State.
(C) Effectiveness of State deposit caps
No provision of this subsection shall be construed as
affecting the authority of any State to limit, by statute,
regulation, or order, the percentage of the total amount of
deposits of insured depository institutions in the State which
may be held or controlled by any bank or bank holding company
(including all insured depository institutions which are
affiliates of the bank or bank holding company) to the extent
the application of such limitation does not discriminate against
out-of-State banks, out-of-State bank holding companies, or
subsidiaries of such banks or holding companies.
(D) Exceptions to subparagraph (B)
The Board may approve an application pursuant to paragraph
(1)(A) without regard to the applicability of subparagraph (B)
with respect to any State if--
(i) there is a limitation described in subparagraph (C)
in a State statute, regulation, or order which has the
effect of permitting a bank or bank holding company
(including all insured depository institutions which are
affiliates of the bank or bank holding company) to control a
greater percentage of total deposits of all insured
depository institutions in the State than the percentage
permitted under subparagraph (B); or
(ii) the acquisition is approved by the appropriate
State bank supervisor of such State and the standard on
which such approval is based does not have the effect of
discriminating against out-of-State banks, out-of-State bank
holding companies, or subsidiaries of such banks or holding
companies.
(E) ``Deposit'' defined
For purposes of this paragraph, the term ``deposit'' has the
same meaning as in section 1813(l) of this title.
(3) Community reinvestment compliance
In determining whether to approve an application under paragraph
(1)(A), the Board shall--
(A) comply with the responsibilities of the Board regarding
such application under section 2903 of this title; and
(B) take into account the applicant's record of compliance
with applicable State community reinvestment laws.
(4) Applicability of antitrust laws
No provision of this subsection shall be construed as
affecting--
(A) the applicability of the antitrust laws; or
(B) the applicability, if any, of any State law which is
similar to the antitrust laws.
(5) Exception for banks in default or in danger of default
The Board may approve an application pursuant to paragraph
(1)(A) which involves--
(A) an acquisition of 1 or more banks in default or in
danger of default; or
(B) an acquisition with respect to which assistance is
provided under section 1823(c) of this title;
without regard to subparagraph (B) or (D) of paragraph (1) or
paragraph (2) or (3).
(e) Insured depository institution
Every bank that is a holding company and every bank that is a
subsidiary of such a company shall become and remain an insured
depository institution as defined in section 1813 of this title.
(f) [Repealed]
(g) Mutual bank holding company
(1) Establishment
Notwithstanding any provision of Federal law other than this
chapter, a savings bank or cooperative bank operating in mutual form
may reorganize so as to form a holding company.
(2) Regulations
A bank holding company organized as a mutual holding company
shall be regulated on terms, and shall be subject to limitations,
comparable to those applicable to any other bank holding company.
(May 9, 1956, ch. 240, Sec. 3, 70 Stat. 134; Pub. L. 89-485, Sec. 7,
July 1, 1966, 80 Stat. 237; Pub. L. 91-607, title I, Sec. 102, Dec. 31,
1970, 84 Stat. 1763; Pub. L. 95-188, title III, Secs. 301(a), 302, Nov.
16, 1977, 91 Stat. 1388, 1389; Pub. L. 96-221, title VII, Secs. 712(b),
(c), 713, Mar. 31, 1980, 94 Stat. 189, 190; Pub. L. 97-320, title I,
Secs. 118(c), 141(a)(4), title IV, Sec. 404(d)(2), Oct. 15, 1982, 96
Stat. 1479, 1489, 1512; Pub. L. 100-86, title I, Secs. 101(d), 107(b),
title V, Secs. 502(h)(1), 509(a), Aug. 10, 1987, 101 Stat. 561, 579,
628, 635; Pub. L. 101-73, title VI, Sec. 602(b), Aug. 9, 1989, 103 Stat.
409; Pub. L. 102-242, title II, Secs. 202(d), 210, Dec. 19, 1991, 105
Stat. 2290, 2298; Pub. L. 103-325, title III, Secs. 319(a), 322(c)(1),
Sept. 23, 1994, 108 Stat. 2224, 2227; Pub. L. 103-328, title I,
Sec. 101(a), Sept. 29, 1994, 108 Stat. 2339; Pub. L. 106-102, title I,
Secs. 105, 118, Nov. 12, 1999, 113 Stat. 1359, 1373; Pub. L. 107-56,
title III, Sec. 327(a)(1), Oct. 26, 2001, 115 Stat. 318.)
References in Text
Section 1823(f)(8)(D) of this title, referred to in subsec. (b)(2),
which defined ``bank in danger of closing'', was repealed by Pub. L.
101-73, title II, Sec. 217(5)(H), Aug. 9, 1989, 103 Stat. 257.
Amendments
2001--Subsec. (c)(6). Pub. L. 107-56 added par. (6).
1999--Subsec. (f). Pub. L. 106-102, Sec. 118, amended subsec. (f)
generally, substituting ``(f) [Repealed].'' for provisions relating to
authorized activities of qualified savings banks which are subsidiaries
of bank holding companies.
Subsec. (g)(2). Pub. L. 106-102, Sec. 105, amended heading and text
of par. (2) generally. Prior to amendment, text read as follows: ``A
corporation organized as a holding company under this subsection shall
be regulated on the same terms and be subject to the same limitations as
any other holding company which controls a savings bank.''
1994--Subsec. (a). Pub. L. 103-325, Sec. 319(a), substituted ``(B)''
for ``or (B)'' and added subpar. (C).
Subsec. (d). Pub. L. 103-328 amended subsec. (d) generally. Prior to
amendment, subsec. (d) read as follows: ``Notwithstanding any other
provision of this section, no application (except an application filed
as a result of a transaction authorized under section 1823(f) of this
title) shall be approved under this section which will permit any bank
holding company or any subsidiary thereof to acquire, directly or
indirectly, any voting shares of, interest in, or all or substantially
all of the assets of any additional bank located outside the State in
which the operations of such bank holding company's banking subsidiaries
were principally conducted on July 1, 1966, or the date on which such
company became a bank holding company, whichever is later, unless the
acquisition of such shares or assets of a State bank by an out-of-State
bank holding company is specifically authorized by the statute laws of
the State in which such bank is located, by language to that effect and
not merely by implication. For the purposes of this section, the State
in which the operations of a bank holding company's subsidiaries are
principally conducted is that State in which total deposits of all such
banking subsidiaries are largest.''
Subsec. (e). Pub. L. 103-325, Sec. 322(c)(1), struck out after first
sentence ``This subsection does not apply to a bank described in the
last sentence of section 1841(c) of this title.''
1991--Subsec. (c). Pub. L. 102-242, Sec. 202(d), inserted heading,
inserted par. (1) designation and heading, redesignated former pars. (1)
and (2) as subpars. (A) and (B), respectively, inserted par. (2)
designation and heading, added par. (3), and inserted par. (4)
designation and heading.
Subsec. (c)(5). Pub. L. 102-242, Sec. 210, added par. (5).
1989--Subsec. (e). Pub. L. 101-73, which directed the substitution
of ``an insured depository institution as defined in section 1813 of
this title'' for ``an insured bank as defined in section 1813(h) of this
title'', was executed by making the substitution for ``an insured bank
as such term is defined in section 1813(h) of this title'', as the
probable intent of Congress.
1987--Pub. L. 100-86, Sec. 509(a), repealed Pub. L. 97-320,
Sec. 141. See 1982 Amendment note below.
Subsec. (b). Pub. L. 100-86, Sec. 502(h)(1), designated existing
provisions as par. (1) and added par. (2).
Subsec. (f). Pub. L. 100-86, Sec. 101(d), added subsec. (f).
Subsec. (g). Pub. L. 100-86, Sec. 107(b), added subsec. (g).
1982--Subsec. (d). Pub. L. 97-320, Sec. 118(c), inserted ``(except
an application filed as a result of a transaction authorized under
section 1823(f) of this title)'' after ``no application''.
Pub. L. 97-320, Sec. 141(a)(4), which directed that, effective Oct.
13, 1986, the provisions of law amended by section 118 of Pub. L. 97-320
shall be amended to read as they would without such amendment, was
repealed by Pub. L. 100-86, Sec. 509(a). See Effective and Termination
Dates of 1982 Amendment note and Extension of Emergency Acquisition and
Net Worth Guarantee Provisions of Pub. L. 97-320 note set out under
section 1464 of this title.
Subsec. (e). Pub. L. 97-320, Sec. 404(d)(2), inserted ``This
subsection does not apply to a bank described in the last sentence of
section 1841(c) of this title.''
1980--Subsec. (c). Pub. L. 96-221, Sec. 713, inserted provisions
relating to applications for the formation of one-bank holding
companies.
Subsec. (d). Pub. L. 96-221, Sec. 712(b), (c), temporarily
designated existing provisions as par. (1) and added par. (2). See
Termination Date of 1980 Amendment note set out below.
1977--Subsec. (a). Pub. L. 95-188, Sec. 301(a), authorized the Board
to extend the time for disposition of acquired shares for not more than
one year at a time and three years in the aggregate.
Subsec. (b). Pub. L. 95-188, Sec. 302, inserted provision for
alternative submission of views and recommendations within ten calendar
days of the date on which notice is given if the Board advises the
appropriate supervisory authority that an emergency exists requiring
expeditious action, substituted ``shall, by order,'' for ``shall by
order'' and inserted provisions respecting procedure in emergencies or
probable failures requiring immediate Board action and orders.
1970--Subsec. (a). Pub. L. 91-607, Sec. 102(1), inserted provision
deeming acquisition of bank shares after Dec. 31, 1970, as not being in
good faith in a fiduciary capacity if acquiring bank or company has sole
discretionary authority to exercise voting rights with respect thereto,
and provision for subsequent approval of retention of acquired shares
upon application filed within 90 days of acquisition and disposition of
shares or sole discretionary voting rights within two years after order
in an event of disapproval.
Subsec. (b). Pub. L. 91-607, Sec. 102(2), inserted provision deeming
an application for approval as granted where Board has not acted on
application within 91 day period beginning on date of submission to
Board of complete record on application.
Subsec. (e). Pub. L. 91-607, Sec. 102(3), added subsec. (e).
1966--Subsec. (a). Pub. L. 89-485, Sec. 7(a), (b), expanded the list
of acts requiring prior approval of the Board by including therein any
action that causes a bank to become a subsidiary of a bank holding
company and substituted provisions excepting shares that are held under
a trust that constitutes a company as defined in section 1841(b) of this
title and excepting shares as provided in pars. (2) and (3) of section
1841(g) of this title from the effect of the clause lifting the
requirements of prior Board approved in the case of shares acquired by a
bank in good faith in a fiduciary capacity for provisions excepting
shares held for the benefit of the shareholders of a bank from the
effect of the clause.
Subsec. (c). Pub. L. 89-485, Sec. 7(c), inserted provision
prohibiting any acquisition, merger, or consolidation that would result
in a monopoly or would further any combination or conspiracy to
monopolize the banking business in any part of the United States or
would substantially lessen competition or in any manner be in restraint
of trade unless the public interest clearly outweighed the
anticompetitive effects and substituted provisions requiring the Board
to take into consideration the financial and managerial resources and
future prospects of the company or bank concerned and the convenience
and needs of the community to be served for provisions requiring the
Board to take into consideration the financial history of the company or
bank concerned, its prospects, the character of its management, the
needs of the community, and the public interest.
Subsec. (d). Pub. L. 89-485, Sec. 7(d), substituted provisions
restricting expansion to state in which the operations of the bank
holding company's banking subsidiaries were principally conducted,
defined, as that state in which total deposits of all such banking
subsidiaries were largest, on July 1, 1966, or the date on which the
company became a bank holding company, whichever is later, for
provisions restricting expansion to state in which the holding company
maintains its principal office and place of business or in which it
conducts its principal operations.
Effective and Termination Dates of 2001 Amendment
Amendments by title III of Pub. L. 107-56 to terminate effective on
and after the first day of fiscal year 2005 if Congress enacts a joint
resolution that such amendments no longer have the force of law, see
section 303 of Pub. L. 107-56, set out as a Four-Year Congressional
Review; Expedited Consideration note under section 5311 of Title 31,
Money and Finance.
Pub. L. 107-56, title III, Sec. 327(a)(2), Oct. 26, 2001, 115 Stat.
319, provided that: ``The amendment made by paragraph (1) [amending this
section] shall apply with respect to any application submitted to the
Board of Governors of the Federal Reserve System under section 3 of the
Bank Holding Company Act of 1956 [12 U.S.C. 1842] after December 31,
2001, which has not been approved by the Board before the date of
enactment of this Act [Oct. 26, 2001].''
Effective Date of 1999 Amendment
Amendment by Pub. L. 106-102 effective 120 days after Nov. 12, 1999,
see section 161 of Pub. L. 106-102, set out as a note under section 24
of this title.
Effective Date of 1994 Amendment
Amendment by Pub. L. 103-328 effective at end of 1-year period
beginning on Sept. 29, 1994, see section 101(e) of Pub. L. 103-328, set
out as a note under section 1828 of this title.
Termination Date of 1980 Amendment
Amendment by Pub. L. 96-221 repealed on Oct. 1, 1981, see section
712(c) of Pub. L. 96-221, set out as a note under section 27 of this
title.
Extension of Emergency Acquisition and Net Worth Guarantee Provisions of
Pub. L. 97-320
No amendment made by section 141(a) of Pub. L. 97-320, set out as a
note under section 1464 of this title, as in effect before Aug. 10,
1987, to any other provision of law to be deemed to have taken effect
before such date and any such provision of law to be in effect as if no
such amendment had been made before such date, see section 509(c) of
Pub. L. 100-86, set out as a note under section 1464 of this title.
No amendment made by section 141(a) of Pub. L. 97-320, set out as a
note under section 1464 of this title, as in effect on the day before
Oct. 8, 1986, to any other provision of law to be deemed to have taken
effect before such date and any such provision of law to be in effect as
if no such amendment had taken effect before such date, see section 1(c)
of Pub. L. 99-452, set out as a note under section 1464 of this title.
Section 141(a) of Pub. L. 97-320, set out as a note under section
1464 of this title, as in effect on the day after Aug. 27, 1986,
applicable as if included in Pub. L. 97-320 on Oct. 15, 1982, with no
amendment made by such section to any other provision of law to be
deemed to have taken effect before Aug. 27, 1986, and any such provision
of law to be in effect as if no such amendment had taken effect before
Aug. 27, 1986, see section 1(c) of Pub. L. 99-400, set out as a note
under section 1464 of this title.
Section Referred to in Other Sections
This section is referred to in sections 619, 1815, 1817, 1823,
1828b, 1843, 1844, 1849, 1850, 2902, 3105 of this title; title 15
sections 18a, 77c.