12 U.S.C. § 2277a–3 — Commencement of insurance
submitted 38 years ago by Pub. L. 92-181 to r/title-12-BANKS-AND-BANKING · 81 words · no verdicts yet
Each System bank becomes insured on the specified effective date, when authorized to begin or resume operations, or when created by merger or consolidation of insured System banks, as applicable.
Effective beginning on January 1, 1989 , or 12 months after January 6, 1988 , whichever is later, each System bank must be an insured System bank* and must be subject to this part. Each System bank that is authorized to commence or resume operations under a subchapter of this chapter must be an insured System bank from the time of such authorization. A bank resulting from the merger or consolidation of insured System banks must be an insured System bank.
Effective beginning on January 1, 1989, or 12 months after January 6, 1988, whichever is later, each System bank shall be an insured System bank* and shall be subject to this part. Each System bank that is authorized to commence or resume operations under a subchapter of this chapter shall be an insured System bank from the time of such authorization. A bank resulting from the merger or consolidation of insured System banks shall be an insured System bank.
Source credit: (Pub. L. 92–181, title V, § 5.54, as added Pub. L. 100–233, title III, § 302, Jan. 6, 1988, 101 Stat. 1611.)
- 1988Enacted · Pub. L. 92-181 · 101 Stat. 1611
A history note hasn’t been published yet. The record shows enactment by Pub. L. 92-181 on 1988-01-06.
all 0 arguments · sorted by: best
no arguments yet — make the first case