§ 3207. — Rules and regulations.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC3207]
TITLE 12--BANKS AND BANKING
CHAPTER 33--DEPOSITORY INSTITUTION MANAGEMENT INTERLOCKS
Sec. 3207. Rules and regulations
Regulations to carry out this chapter, including regulations that
permit service by a management official that would otherwise be
prohibited by section 3202 of this title or section 3203 of this title,
if such service would not result in a monopoly or substantial lessening
of competition, may be prescribed by--
(1) the Comptroller of the Currency with respect to national
banks and banks located in the District of Columbia,
(2) the Board of Governors of the Federal Reserve System with
respect to State banks which are members of the Federal Reserve
System, and bank holding companies,
(3) the Board of Directors of the Federal Deposit Insurance
Corporation with respect to State banks which are not members of the
Federal Reserve System but the deposits of which are insured by the
Federal Deposit Insurance Corporation,
(4) the Director of the Office of Thrift Supervision with
respect to institutions the accounts of which are insured by the
Federal Deposit Insurance Corporation, and savings and loan holding
companies, and
(5) the National Credit Union Administration with respect to
credit unions the accounts of which are insured by the National
Credit Union Administration.
(Pub. L. 95-630, title II, Sec. 209, Nov. 10, 1978, 92 Stat. 3675; Pub.
L. 103-325, title III, Sec. 338(b), Sept. 23, 1994, 108 Stat. 2236; Pub.
L. 104-208, div. A, title II, Sec. 2210(c), Sept. 30, 1996, 110 Stat.
3009-410.)
Amendments
1996--Pub. L. 104-208 redesignated subsec. (a) as entire section, in
introductory provisions, substituted ``Regulations'' for ``Rules and
regulations'' and inserted ``, including regulations that permit service
by a management official that would otherwise be prohibited by section
3202 of this title or section 3203 of this title, if such service would
not result in a monopoly or substantial lessening of competition,''
after ``chapter'', in par. (4), substituted ``Director of the Office of
Thrift Supervision'' for ``Federal Home Loan Bank Board'' and ``Federal
Deposit Insurance Corporation'' for ``Federal Savings and Loan Insurance
Corporation'', and struck out subsecs. (b) and (c), which related to
regulatory standards, and to limited exception for management official
consignment program, respectively.
1994--Pub. L. 103-325 designated existing provisions as subsec. (a),
inserted heading, struck out ``, including rules or regulations which
permit service by a management official which would otherwise be
prohibited by section 3202 or section 3203 of this title,'' after
``Rules and regulations to carry out this chapter'' in introductory
provisions, and added subsecs. (b) and (c).
Section Referred to in Other Sections
This section is referred to in section 3201 of this title.
