increased ceiling on deposit insurance: federal savings and loan insurance corporation

increased ceiling on deposit insurance: federal savings and loan insurance corporation Sec. 103. (a) The following provisions of title IV of the National Housing Act are amended by striking out “$20,000” each place it appears therein and inserting in lieu thereof “$40,000”: (1) Section 401(b)(12 U.S.C. 1724(b)). (2) Section 405(a)(12 U.S.C. 1728(a)). (b) The amendments made by this section are not applicable to any claim arising out of a default, as defined in section 401(d) of the National Housing Act, where the appointment of a conservator, receiver, or other legal custodian as set forth in that section becomes effective prior to the effective date of this section. (c) The amendments made by this section shall take effect on the thirtieth day beginning after the date of enactment of this Act.