increased ceiling on deposit insurance: insured credit unions

increased ceiling on deposit insurance: insured credit unions Sec. 104. (a) The first sentence of section 207(c) of title II of the Federal Credit Union Act (12 U.S.C. 1787 (c)) is amended by striking out “$20,000” and inserting in lieu thereof “$40,000”. (b) The amendment made by this section is not applicable to any claim arising out of the closing of a credit, union for liquidation on account of bankruptcy or insolvency pursuant to section 207 of title II of the Federal Credit Union Act (12 U.S.C. 1787) prior to the effective date of this section. (c) The amendment made by this section shall take effect on the thirtieth day beginning after the date of enactment of this Act.