DISPOSITION OF FORECLOSED ASSETS.

SEC. 2215. DISPOSITION OF FORECLOSED ASSETS. Section 4(c)(2) of the Bank Holding Company Act of 1956 (12 U.S.C. 1843(c)(2)) is amended— (1) by striking “for not more than one year at a time”; and (2) by striking “but no such extensions shall extend beyond a date five years” and inserting “and, in the case of a bank holding company which has not disposed of such shares within 5 years after the date on which such shares were acquired, the Board may, upon the application of such company, grant additional exemptions if, in the judgment of the Board, such extension would not be detrimental to the public interest and, either the bank holding company has made a good faith attempt to dispose of such shares during such 5-year period, or the disposal of such shares during such 5-year period would have been detrimental to the company, except that the aggregate duration of such extensions shall not extend beyond 10 years”.