§ 3205. Management official in position prior to November 10, 1978
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/usc/title-12/section-3205A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Continuation of service A person whose service in a position as a management official began prior to November 10, 1978, and who was not immediately prior to November 10, 1978, in violation of section 19 of title 15 is not prohibited by section 3202 or section 3203 of this title from continuing to serve in that position. The appropriate Federal depository institutions regulatory agency may provide a reasonable period of time for compliance with this chapter, not exceeding fifteen months, after any change in circumstances which makes service described in the preceding sentence prohibited by this chapter, except that a merger, acquisition, increase in total assets, establishment of one or more offices, or change in management responsibilities shall not constitute changes in circumstances which would make such service prohibited by section 3202 or section 3203 of this title.
(b)Depository institution and diversified savings and loan holding company Effective on November 10, 1978, a person who serves as a management official of a company which is not a depository institution or a depository holding company and as a management official of a depository institution or a depository holding company is not prohibited from continuing to serve as a management official of that depository institution or depository holding company as a result of that company which is not a depository institution or depository holding company becoming a diversified savings and loan holding company as that term is defined in section 1730a(a) 1 of this title.
(Pub. L. 95–630, title II, § 206, Nov. 10, 1978, 92 Stat. 3674; Pub. L. 97–110, title III, § 302, Dec. 26, 1981, 95 Stat. 1515; Pub. L. 100–650, §§ 5(b)(2), 6, Nov. 10, 1988, 102 Stat. 3820, 3821; Pub. L. 103–325, title III, § 338(a), Sept. 23, 1994, 108 Stat. 2235; Pub. L. 104–208, div. A, title II, § 2210(b), Sept. 30, 1996, 110 Stat. 3009–410.)
Connections8 cite this · traces to 4
Cited by 8 sections · top 7
statutes-at-large
- Public Law 95–630To extend the authority for the flexible regulation of Interest rates on deposits and accounts in depository institutions
- Public Law 97–110To clarify the treatment of international banking facility deposits for purposes of deposit insurance assessments and to remove certain limitations on the mortgage loan purchase authority of the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association
- Public Law 104–207Waiving certain enrollment requirements with respect to any bill or joint resolution of the One Hundred Fourth Congress making genera) or continuing appropriations for fiscal year 1997
- Public Law 100–650To amend the Depository Institution Management Interlocks Act to revise the manner in which the service of directors of depository institutions and depository holding companies are regulated, and for other purposes
Traces to 4 documents
U.S. Code
- Interlocking directorates and officers§ 19
- Dual service of management official of $2,500,000,000 institution or holding company as management official of unaffiliated $1,500,000,000 institution or holding company prohibited§ 3203
- Rules and regulations§ 3207
- Extensions of credit to executive officers, directors, and principal shareholders of member banks§ 375b
23 references not yet in our index
- 1
- Pub. L. 95–630, title II, § 206
- 92 Stat. 3674
- Pub. L. 97–110, title III, § 302
- 95 Stat. 1515
- Pub. L. 100–650
- 102 Stat. 3820
- Pub. L. 103–325, title III, § 338(a)
- 108 Stat. 2235
- Pub. L. 104–208, div. A, title II, § 2210(b)
- 110 Stat. 3009–410
- Section 1730a of this title
- Pub. L. 101–73, title IV, § 407
- 103 Stat. 363
- Pub. L. 104–208, § 2210(b)(1)
- Pub. L. 104–208, § 2210(b)(2)
- Pub. L. 104–208, § 2210(b)(3)
- Pub. L. 103–325, § 338(a)(1)
- Pub. L. 103–325, § 338(a)(2)
- Pub. L. 100–650, § 5(b)(2)
- Pub. L. 100–650, § 6
- Pub. L. 97–110
- section 2101 of Pub. L. 95–630
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cites case law
§ 3205
Management official in position prior to November 10, 1978
Stat.×5
Fed. Reg.×2
C.F.R.×1
Cite1
Pub. L.Pub. L. 95–630, title II, § 206
Stat.92 Stat. 3674
Pub. L.Pub. L. 97–110, title III, § 302
Stat.95 Stat. 1515
Cites 27 · showing 9Cited by 8 across 3 sources