Pub. L. 102-18, tit. II, sec. 201

AMENDMENTS RELATING TO SCOPE OF PROGRAM.

EnactedYear: 1991Length: 166 wordsOfficial source
SEC. 201. AMENDMENTS RELATING TO SCOPE OF PROGRAM. (a) Definition of Corporation.— Section 21A(c)(9)(C) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(c)(9)(C)) is amended by striking the period at the end and inserting “, except that for purposes of subsection (c)(2) only, the term means the Resolution Trust Corporation acting in any capacity.”. (b) Sales to Insured Depository Institutions Excluded From Program.— Section 21A(c)(10) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(c)(10)) is amended to read as follows: “(10) Exemption for certain transactions with insured depository institutions.— The provisions of this subsection shall not apply with respect to any eligible residential property after the date the Corporation enters into a contract to sell such property to an insured depository institution (as defined in section 3 of the Federal Deposit Insurance Act), including any 105 STAT. 63sale in connection with a transfer of all or substantially all of the assets of a closed savings association (including such property) to an insured depository institution.”.