SPECIAL INSURED DEPOSITS.

SEC. 478. SPECIAL INSURED DEPOSITS. For purposes of the Federal Deposit Insurance Act (12 U.S.C. 1811 et seq.), the deposits of the Freedom National Bank of New York and the deposits of Community National Bank and Trust Company of New York that— (1) were deposited by a charitable organization as such term is defined by New York State law, or by a religious organization; and (2) were deposits of such bank on the date of its closure by the Office of the Comptroller of the Currency, shall be fully insured notwithstanding any other provisions of the Federal Deposit Insurance Act.