In the Senate of the United States,
May 27 (legislative day, April 19), 1993.
Resolved, That the bill from the House of Representa-
tives (H.R. 890) entitled ‘‘An Act to amend the Federal De-
posit Insurance Act and the Federal Credit Union Act to im-
prove the procedures for treating unclaimed insured deposits,
and for other purposes’’, do pass with the following
AMENDMENTS:
Strike out all after the enacting clause and insert:
SECTION 1. AMENDMENTS RELATING TO TREATMENT OF
UNCLAIMED DEPOSITS AT INSURED BANKS
AND SAVINGS ASSOCIATIONS.
Subsection (e) of section 12 of the Federal Deposit In-
surance Act (12 U.S.C. 1822(e)) is amended to read as fol-
lows:
‘‘(e) DISPOSITION OF UNCLAIMED DEPOSITS.—
‘‘(1) NOTICES.—
‘‘(A) FIRST NOTICE.—Within 30 days after
the initiation of the payment of insured deposits
under section 11(f), the Corporation shall pro-
vide written notice to all insured depositors that
HR 890 EAS
they must claim their deposit from the Corpora-
tion, or if the deposit has been transferred to an-
other institution, from the transferee institution.
‘‘(B) SECOND
NOTICE.—A second notice
containing this information shall be mailed by
the Corporation to all insured depositors who
have not responded to the first notice, 15 months
after the Corporation initiates such payment of
insured depositors.
‘‘(C) 
ADDRESS.—The 
notices 
shall 
be
mailed to the last known address of the depositor
appearing on the records of the insured deposi-
tory institution in default.
‘‘(2) TRANSFER TO APPROPRIATE STATE.—If an
insured depositor fails to make a claim for his, her,
or its insured or transferred deposit within 18 months
after the Corporation initiates the payment of insured
deposits under section 11(f)—
‘‘(A) any transferee institution shall refund
the deposit to the Corporation, and all rights of
the depositor against the transferee institution
shall be barred; and
‘‘(B) with the exception of United States de-
posits, the Corporation shall deliver the deposit
to the custody of the appropriate State as un-
HR 890 EAS
claimed property, unless the appropriate State
declines to accept custody. Upon delivery to the
appropriate State, all rights of the depositor
against the Corporation with respect to the de-
posit shall be barred and the Corporation shall
be deemed to have made payment to the deposi-
tor for purposes of section 11(g)(1).
‘‘(3) REFUSAL OF APPROPRIATE STATE TO AC-
CEPT CUSTODY.—If the appropriate State declines to
accept custody of the deposit tendered pursuant to
paragraph (2)(B), the deposit shall not be delivered to
any State, and the insured depositor shall claim the
deposit from the Corporation before the receivership is
terminated, or all rights of the depositor with respect
to such deposit shall be barred.
‘‘(4) TREATMENT
OF
UNITED
STATES
DEPOS-
ITS.—If the deposit is a United States deposit it shall
be delivered to the Secretary of the Treasury for de-
posit in the general fund of the Treasury. Upon deliv-
ery to the Secretary of the Treasury, all rights of the
depositor against the Corporation with respect to the
deposit shall be barred and the Corporation shall be
deemed to have made payment to the depositor for
purposes of section 11(g)(1).
HR 890 EAS
instrumentality of the Federal Government, or
any officer or employee thereof in such person’s
official capacity.’’.
SEC. 2. EFFECTIVE DATE.
(a) IN GENERAL.—The amendments made by section
1 of this Act shall only apply with respect to institutions
for which the Corporation has initiated the payment of in-
sured deposits under section 11(f) of the Federal Deposit
Insurance Act after the date of enactment of this Act.
(b) 
SPECIAL
RULE
FOR
RECEIVERSHIPS
IN
PROGRESS.—Section 12(e) of the Federal Deposit Insur-
ance Act as in effect on the day before the date of enactment
of this Act shall apply with respect to insured deposits in
depository institutions for which the Corporation was first
appointed receiver during the period between January 1,
1989 and the date of enactment of this Act, except that such
section 12(e) shall not bar any claim made against the Cor-
poration by an insured depositor for an insured or trans-
ferred deposit, so long as such claim is made prior to the
termination of the receivership.
(c) INFORMATION TO STATES.—Within 120 days after
the date of enactment of this Act, the Corporation shall pro-
vide, at the request of and for the sole use of any State,
the name and last known address of any insured depositor
(as shown on the records of the institution in default) eligi-
HR 890 EAS
ble to make a claim against the Corporation solely due to
the operation of subsection (b) of this section.
(d) DEFINITION.—For purposes of this section, the
term ‘‘Corporation’’ means the Federal Deposit Insurance
Corporation, the Resolution Trust Corporation, or the Fed-
eral Savings and Loan Insurance Corporation, as appro-
priate.
Amend the title so as to read: ‘‘An Act to amend the
Federal Deposit Insurance Act to improve the procedures for
treating unclaimed insured deposits, and for other pur-
poses.’’.
Attest:
Secretary.