Pub. L. 89-695, tit. I, sec. 103

Sec. 103. Subsection (c) of section 408 of the National Housing Act (12 U.S.C. 1730a(c)) is amended to read: “(c) It shall be unlawful for any company on or after September 23, 1959— “(1) to acquire the control of more than one insured institution, or “(2) to acquire the control of an insured institution when it holds the control of any other insured institution, except in a transaction which has been approved by the Federal Home Loan Bank Board upon a determination by it that such transaction is advisable to assist in preventing the commencement or continuance of involuntary liquidation of the insured institution whose control, whether by acquisition of stock or assets or otherwise, as being acquired by such company or an insured institution which it controls.”