§ 3203. — Dual service of management official of $2,500,000,000 institution or holding company as management official of unaffiliated $1,500,000,000 institution or holding company prohibited.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC3203]
TITLE 12--BANKS AND BANKING
CHAPTER 33--DEPOSITORY INSTITUTION MANAGEMENT INTERLOCKS
Sec. 3203. Dual service of management official of $2,500,000,000
institution or holding company as management official of
unaffiliated $1,500,000,000 institution or holding company
prohibited
If a depository institution or a depository holding company has
total assets exceeding $2,500,000,000, a management official of such
institution or any affiliate thereof may not serve as a management
official of any other nonaffiliated depository institution or depository
holding company having total assets exceeding $1,500,000,000 or as a
management official of any affiliate of such other institution. In order
to allow for inflation or market changes, the appropriate Federal
depository institutions regulatory agencies may, by regulation, adjust,
as necessary, the amount of total assets required for depository
institutions or depository holding companies under this section.
(Pub. L. 95-630, title II, Sec. 204, Nov. 10, 1978, 92 Stat. 3673; Pub.
L. 104-208, div. A, title II, Sec. 2210(a), Sept. 30, 1996, 110 Stat.
3009-409.)
Amendments
1996--Pub. L. 104-208 substituted ``$2,500,000,000'' for
``$1,000,000,000'' and ``$1,500,000,000'' for ``$500,000,000'' and
inserted at end ``In order to allow for inflation or market changes, the
appropriate Federal depository institutions regulatory agencies may, by
regulation, adjust, as necessary, the amount of total assets required
for depository institutions or depository holding companies under this
section.''
Section Referred to in Other Sections
This section is referred to in sections 3204, 3205, 3207 of this
title.