12 U.S.C. 1843: Interests in nonbanking organizations

2010

• Pub. L. 111–203, §354(2)(A)(i)(I), struck out "to Director" at end of heading, substituted "Board shall solicit comments and recommendations from—" for "Board shall solicit comments and recommendations from the Director with respect to such acquisition.", and added cls. (i) and (… (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (i)
• Pub. L. 111–203, §354(2)(A)(i)(II), substituted "Comptroller of the Currency or the Federal Deposit Insurance Corporation, as applicable," for "Director" wherever appearing. (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (i)
• Pub. L. 111–203, §354(2)(A)(ii)(II), substituted "Comptroller of the Currency or the Federal Deposit Insurance Corporation" for "Director" in two places. (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (i)
• Pub. L. 111–203, §354(2)(A)(ii)(I), substituted "Comptroller of the Currency or the Federal Deposit Insurance Corporation, as applicable, with" for "Director with". (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (i)
• Pub. L. 111–203, §354(2)(A)(iii), substituted "Comptroller of the Currency or the Federal Deposit Insurance Corporation, as applicable," for "Director". (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (i)
• Pub. L. 111–203, §354(2)(A)(iv), struck out par. (7). Text read as follows: "For purposes of this section, the term 'Director' means the Director of the Office of Thrift Supervision." (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (i)
• Pub. L. 111–203, §623(b)(1)(A), added par. (8). (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (i)
• Pub. L. 111–203, §604(e)(1), substituted "unsound banking practices, or risk to the stability of the United States banking or financial system" for "or unsound banking practices". (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (j)
• Pub. L. 111–203, §623(b)(1)(B), substituted "insured depository institution" for "savings association". (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (k)
• Pub. L. 111–203, §604(e)(2), amended subpar. (B) generally. Prior to amendment, text read as follows: "Except as provided in subsection (j) of this section with regard to the acquisition of a [sic] insured depository institution, a financial holding company may commence any activity, or acquire any… (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (k)
• Pub. L. 111–203, §606(a)(1)–(3), added subpar. (C) and redesignated former subpar. (C) as (D). (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (l), (D)
• Pub. L. 111–203, §606(a)(4), substituted "subparagraphs (A), (B), and (C)" for "subparagraphs (A) and (B)". (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (l)

2006

• Pub. L. 109–351, §727(b), substituted "(G), or (H) of section 1841(c)(2)" for "(G), (H), (I), or (J) of section 1841(c)(2)". (Financial Services Regulatory Relief Act of 2006) Law text · (h), (2)
• Pub. L. 109–351, §611, substituted "subparagraph (H) or (I) of subsection (k)(4)" for "subsection (k)(4)(I)" in introductory provisions. (Financial Services Regulatory Relief Act of 2006) Law text · (n)

1999

• Pub. L. 106–102, §102(a), amended par. (8) generally, substituting present provisions for provisions which exempted from prohibitions of this section shares of any bank holding company the activities of which were determined to be so closely related to banking or managing or control… (Gramm-Leach-Bliley Act) Law text · (c)
• Pub. L. 106–102, §107(d)(1), added introductory provisions and struck out former introductory provisions which read as follows: "Paragraph (1) shall cease to apply to any company described in such paragraph if—". (Gramm-Leach-Bliley Act) Law text · (f)
• Pub. L. 106–102, §107(d)(2)(A)–(C), added subcl. (XI). (Gramm-Leach-Bliley Act) Law text · (f)
• Pub. L. 106–102, §107(d)(2)(D), (3), added subpars. (B) and (C) and struck out former subpar. (B) which read as follows: "any bank subsidiary of such company fails to comply with the restrictions contained in paragraph (3)(B)." (Gramm-Leach-Bliley Act) Law text · (f), (C)
• Pub. L. 106–102, §107(a), (b), added par. (3) and struck out heading and text of former par. (3) which related to limitation on banks controlled by paragraph (1) companies. (Gramm-Leach-Bliley Act) Law text · (f)
• Pub. L. 106–102, §107(e), reenacted heading without change and amended text of par. (4) generally. Prior to amendment, text read as follows: "If any company described in paragraph (1) loses the exemption provided under such paragraph by operation of paragraph (2), such company shall… (Gramm-Leach-Bliley Act) Law text · (f)
• Pub. L. 106–102, §107(f), added par. (14). (Gramm-Leach-Bliley Act) Law text · (f)
• Pub. L. 106–102, §103(c)(2)(A), inserted "or in any complementary activity under subsection (k)(1)(B)" after "subsection (c)(8) or (a)(2)". (Gramm-Leach-Bliley Act) Law text · (j), (E)
• Pub. L. 106–102, §103(c)(2)(B), inserted ", other than any complementary activity under subsection (k)(1)(B)," after "to engage in any activity" and "or a company engaged in any complementary activity under subsection (k)(1)(B)" after "insured depository institution". (Gramm-Leach-Bliley Act) Law text · (j)
• Pub. L. 106–102, §103(a), added subsecs. (k) to (o). (Gramm-Leach-Bliley Act) Law text · (k), (l), (m), (n), (o)

1996

• Pub. L. 104–208, §2215, struck out "for not more than one year at a time" before "if, in its judgment," and substituted "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, … (Magnuson-Stevens Fishery Conservation and Management Act) Law text · (c)
• Pub. L. 104–208, §2612, substituted "(and opportunity for hearing in the case of an acquisition of a savings association)" for "and opportunity for hearing". (Magnuson-Stevens Fishery Conservation and Management Act) Law text · (c)
• Pub. L. 104–208, §2304(a), struck out cl. (iv) which read as follows: "increase its assets at an annual rate of more than 7 percent during any 12-month period beginning after the end of the 1-year period beginning on August 10, 1987." (Magnuson-Stevens Fishery Conservation and Management Act) Law text · (f)
• Pub. L. 104–208, §2203(d), added pars. (4) to (7). (Magnuson-Stevens Fishery Conservation and Management Act) Law text · (i)
• Pub. L. 104–208, §2208(a)(1), substituted "Except as provided in paragraph (3), no" for "No". (Magnuson-Stevens Fishery Conservation and Management Act) Law text · (j)
• Pub. L. 104–208, §2208(a)(2), added pars. (3) to (7). (Magnuson-Stevens Fishery Conservation and Management Act) Law text · (j)

1994

• Pub. L. 103–325, §346(2), struck out before last sentence "In the event of the failure of the Board to act on any application for an order under paragraph (8) of this subsection within the ninety-one-day period which begins on the date of submission to the Board of the complete record … · (c)
• Pub. L. 103–325, §346(1), added subsec. (j). · (j)

1992

• Pub. L. 102–550, §1606(h)(1), amended directory language of Pub. L. 102–242, §461. See 1991 Amendment note below. · (i)

1991

• Pub. L. 102–242, §461, as amended by Pub. L. 102–550, §1606(h)(1), added par. (3). · (i)

1989

• Pub. L. 101–73, §604(b)(2), inserted reference to par. (12). · (f)
• Pub. L. 101–73, §603(a), amended cl. (ii) generally. Prior to amendment, cl. (ii) read as follows: "acquires control of more than 5 percent of the shares or assets of an additional bank or an insured institution other than— · (f)
• Pub. L. 101–73, §1219, added cl. (ii) and struck out former cl. (ii) which read as follows: "offer or market products or services of an affiliate that are not permissible for bank holding companies to provide under subsection (c)(8) of this section, or permit its products or … · (f)
• Pub. L. 101–73, §603(b)(1), substituted "and (ii)(VIII)" for "and (ii)(V)", and in subpar. (A) inserted reference to section 13(k) of the Federal Deposit Insurance Act. · (f)
• Pub. L. 101–73, §603(b)(2), added par. (11). · (f)
• Pub. L. 101–73, §604(b)(1), added pars. (12) and (13). · (f), (13)
• Pub. L. 101–73, §601(a), added subsec. (i). · (i)

1988

• Pub. L. 100–418, §3402(b), added cl. (v) and redesignated former cls. (v) and (vi) as (vi) and (vii), respectively. · (c)
• Pub. L. 100–418, §3402(a), added subpar. (G). · (c)
• Pub. L. 100–418, §3402(c), added subpar. (H). · (c)

1987

• Pub. L. 100–86, §509(a), repealed Pub. L. 97–320, §141. See 1982 Amendment note below.
• Pub. L. 100–86, §101(b), inserted at end "Notwithstanding any other provision of this paragraph, if any company that became a bank holding company as a result of the enactment of the Competitive Equality Amendments of 1987 acquired, between March 5, 1987, and August 10, 1987, an ins… · (a)
• Pub. L. 100–86, §502(h)(2), struck out semicolon at end and substituted a period and following sentences: "If an application is filed under this paragraph in connection with an application to make an acquisition pursuant to section 13(f) of the Federal Deposit Insurance Act, the Boa… · (c)
• Pub. L. 100–86, §101(c), added subsecs. (f) to (h). · (f), (g), (h)

1986

• Pub. L. 99–514 substituted "Internal Revenue Code of 1986" for "Internal Revenue Code of 1954", which for purposes of codification was translated as "title 26" thus requiring no change in text. · (c)

1983

• Pub. L. 97–457, §30(1), inserted proviso that such a bank holding company and its subsidiaries may not engage in sale of life insurance or annuities except as provided in subparagraph (A), (B), or (C). · (c)
• Pub. L. 97–457, §30(2), struck out proviso that such bank holding company and its subsidiaries may not engage in sale of life insurance or annuities except as provided in subparagraph (A), (B), or (C). · (c)

1982

• Pub. L. 97–320, §433(b), substituted "December 31, 1984" for "December 31, 1982". · (a)
• Pub. L. 97–320, §§118(a), 601, inserted specification that providing insurance is not being closely related to banking or managing or controlling banks for purposes of this subsection, exceptions thereto in cls. (A) through (G), and the subsequent proviso relating to the sale of lif… · (c)
• Pub. L. 97–320, §141(a)(4), which directed that, effective Oct. 13, 1986, the provisions of law amended by section 118 of Pub. L. 97–320 shall be amended to read as they would without such amendment, was repealed by Pub. L. 100–86, §509(a). See Effective and Termination Dates of 1982 Amendment note… · (c)
• Pub. L. 97–290 added par. (14). · (c)

1980

• Pub. L. 96–221 inserted provisions relating to extension of period ending Dec. 31, 1980, to Dec. 31, 1982. · (a)

1978

• Pub. L. 95–630 substituted "The prohibitions in this section shall not apply to (i) any company that was on January 4, 1977, both a bank holding company and a labor, agricultural, or horticultural organization exempt from taxation under section 501 of title 26, or to any labor, agricul… · (c)

1977

• Pub. L. 95–188 substituted "shares acquired by a bank holding company or any of its subsidiaries in satisfaction of a debt previously contracted in good faith, but such shares shall be disposed of within a period of two years" for "shares acquired by a bank in satisfaction of a debt… · (c)

1970

• Pub. L. 91–607, §103(1), (2), in par. (2) of first sentence, inserted provision respecting prohibition in the case of a company which becomes, as a result of the enactment of the Bank Holding Company Act Amendments of 1970, a bank holding company on the date of such enactment, after De… · (a)
• Pub. L. 91–607, §103(3), (6), designated existing provisions of text preceding par. (1) as cl. (i) and added cl. (2), and inserted concluding text following par. (13) deeming an application under par. (8) as granted upon failure of Board to act within prescribed period and requiring th… · (c)
• Pub. L. 91–607, §103(4), inserted provisions respecting criteria to be used for determining whether particular activity is proper incident to banking and provision for differentiation by orders and regulations between de novo activities and going concern activities, deleted descript… · (c)
• Pub. L. 91–607, §103(5), extended exemption to company activities, substituted provision respecting conduct of greater part of company's business; outside the United States for prior provision respecting engaging principally in the banking business outside the United States, and con… · (c)
• Pub. L. 91–607, §103(6), added pars. (11) to (13). · (c)
• Pub. L. 91–607, §103(7), added subsec. (d) and redesignated former subsec. (d) as (e). · (d), (e)

1966

• Pub. L. 89–485, §8(a), extended until December 31, 1978, the deadline for divestiture by bank holding companies of their nonbanking interests in the case of any company that has been continuously affiliated since May 15, 1955, with a company which was registered under the Investment Co… · (a)
• Pub. L. 89–485, §8(b), limited the exception granted companies engaged in liquidating assets acquired by the bank holding company by requiring that, to qualify for the exception, the company be engaged solely in liquidating assets acquired from the holding company and its banks or from… · (c)
• Pub. L. 89–485, §8(c), added subsec. (d). · (d)