United States Code (Last Updated: May 24, 2014) |
Title 12. BANKS AND BANKING |
Chapter 12. SAVINGS ASSOCIATIONS |
§ 1462. Definitions
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For purposes of this chapter— (1) Corporation The term “Corporation” means the Federal Deposit Insurance Corporation.
(2) Savings association The term “savings association” means a savings association, as defined in section 3 of the Federal Deposit Insurance Act [12 U.S.C. 1813], the deposits of which are insured by the Corporation.
(3) Federal savings association The term “Federal savings association” means a Federal savings association or a Federal savings bank chartered under section 1464 of this title.
(4) National bank The term “national bank” has the same meaning as in section 3 of the Federal Deposit Insurance Act [12 U.S.C. 1813].
(5) Federal banking agencies The term “Federal banking agencies” means the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation.
(6) State The term “State” has the same meaning as in section 3 of the Federal Deposit Insurance Act [12 U.S.C. 1813].
(7) Affiliate The term “affiliate” means any person that controls, is controlled by, or is under common control with, a savings association, except as provided in section 1467a of this title.
(8) Board The term “Board”, other than in the context of the Board of Directors of the Corporation, means the Board of Governors of the Federal Reserve System.
(9) Comptroller The term “Comptroller” means the Comptroller of the Currency.
(10) Appropriate Federal banking agency The term “appropriate Federal banking agency” has the same meaning as in section 3(q) of the Federal Deposit Insurance Act (12 U.S.C. 1813(q)).
(11) Functionally regulated subsidiary The term “functionally regulated subsidiary” has the same meaning as in section 5(c)(5) of the Bank Holding Company Act of 1956 (12 U.S.C. 1844(c)(5)).
Amendments
2010—Pars. (1) to (9). Pub. L. 111–203, § 369(2), redesignated pars. (2) and (4) to (9) as (1) and (2) to (7), respectively, added pars. (8) and (9), and struck out former pars. (1) and (3) which read as follows:
“(1) Director.—The term ‘Director’ means the Director of the Office of Thrift Supervision.
“(3) Office.—The term ‘Office’ means the Office of Thrift Supervision.”
Pars. (10), (11). Pub. L. 111–203, § 604(h)(1), added pars. (10) and (11).
1989—Pub. L. 101–73 amended section generally, substituting definition of “Director”, “Corporation”, “Office”, “savings association”, “Federal savings association”, “national bank”, “Federal banking agencies”, “State”, and “affiliate”, designated as pars. (1) to (9), for definition of “Board”, “Corporation”, “home mortgage”, “first mortgage”, and “association”, designated as subsecs. (a) to (d).
1982—Subsec. (d). Pub. L. 97–320 substituted reference to Federal savings bank or Federal savings banks for reference to Federal mutual savings bank wherever appearing.
1978—Subsec. (d). Pub. L. 95–630 included a Federal mutual savings bank chartered by the Board within definition of “association”, and inserted provisions that a reference to a Federal savings and loan association shall be deemed also a reference to a Federal mutual savings bank.
1935—Subsec. (c). Act
1934—Subsec. (c). Act
Change Of Name
“Home Loan Bank Board” changed to “Federal Home Loan Bank Board” by act Aug. 11, 1955, ch. 783, § 109(a)(3), which was classified to section 1437(b) of this title prior to the repeal of section 1437 by Pub. L. 101–73, title VII, § 703(a),
Effective Date Of Amendment
Amendment by section 369(2) of Pub. L. 111–203 effective on the transfer date, see section 351 of Pub. L. 111–203, set out as a note under section 906 of Title 2, The Congress.
Pub. L. 111–203, title VI, § 604(j),
[For definition of “transfer date” as used in section 604(j) of Pub. L. 111–203, set out above, see section 5411 of this title.]
Amendment effective upon expiration of 120 days after
Transfer Of Functions
Reorg. Plan No. 3 of 1947, set out in the Appendix to Title 5, Government Organization and Employees, abolished Federal Home Loan Bank Board and transferred its functions to Home Loan Bank Board created by the Plan.