Source: https://www.law.cornell.edu/uscode/text/12/1831e
Timestamp: 2019-04-23 08:48:10+00:00

Document:
the savings association is and continues to be in compliance with the fully phased-in capital standards prescribed under section 1464(t) of this title.
the savings association chartered under State law is and continues to be in compliance with the fully phased-in capital standards prescribed under section 1464(t) of this title.
Notwithstanding subsections (a) and (b), a savings association chartered under State law may not directly acquire or retain any equity investment of a type or in an amount that is not permissible for a Federal savings association.
The Corporation shall require any savings association to divest any equity investment the retention of which is not permissible under paragraph (1) or (2) as quickly as can be prudently done, and in any event not later than July 1, 1994.
With respect to any equity investment held by any savings association on May 1, 1989, the savings association shall be deemed not to be in violation of the prohibition in paragraph (1) or (2) on retaining such investment so long as the savings association complies with any applicable requirement established by the Corporation pursuant to subparagraph (A) for divesting such investments.
No savings association may, directly or through a subsidiary, acquire or retain any corporate debt security that does not meet standards of credit-worthiness as established by the Corporation.
Paragraph (1) shall not apply with respect to any corporate debt security which is acquired and retained by any qualified affiliate of a savings association.
in the case of a mutual savings association, a subsidiary other than an insured depository institution, so long as all of the savings association’s investments in and extensions of credit to the subsidiary are deducted from the savings association’s capital.
The term “corporate debt security that does not meet standards of credit-worthiness as established by the Corporation” does not include any obligation issued or guaranteed by a corporation that may be held by a Federal savings association without limitation as to percentage of assets under subparagraph (D), (E), or (F) of section 1464(c)(1) of this title.
if the conditions of paragraph (2) are met.
any gain on the sale of the corporate debt security that does not meet standards of credit-worthiness established by the Corporation is recognized, and included for applicable regulatory capital requirements, by the insured savings association only at such time and to the extent that the insured savings association receives payment of principal on the note in cash in excess of the fair market value of the transferred corporate debt security that does not meet standards of credit-worthiness established by the Corporation as carried on the accounts of the insured savings association immediately prior to the transfer.
is repaid in full in cash in accordance with its terms and this subsection.
The exemption provided by this subsection from subsections (a), (b), and (c) of section 1468 of this title and any other applicable provision of Federal or State law shall terminate immediately if the insured savings association or any affiliate of such association fails to comply with the terms of the qualified note or this subsection.
The Corporation shall make determinations under this section by regulation or order.
The term “activity” includes acquiring or retaining any investment.
Notwithstanding paragraph (1), subsections (a) and (b) shall not be construed to require a savings association to divest itself of any assets acquired before August 9, 1989.
any authority of the Comptroller of the Currency, of the Corporation, or of a State to impose more stringent restrictions.
2010—Subsec. (d). Pub. L. 111–203, § 939(a)(2)(A), struck out “not of investment grade” after “securities” in heading.
Subsec. (d)(1). Pub. L. 111–203, § 939(a)(2)(B), substituted “that does not meet standards of credit-worthiness as established by the Corporation” for “not of investment grade”.
Subsec. (d)(2). Pub. L. 111–203, § 939(a)(2)(C), struck out “not of investment grade” after “security”.
“(A) In general.—The Corporation shall require any savings association or any subsidiary of any savings association to divest any corporate debt security not of investment grade the retention of which is not permissible under paragraph (1) as quickly as can be prudently done, and in any event not later than July 1, 1994.
Subsec. (d)(3)(B). Pub. L. 111–203, § 939(a)(2)(F)(iii), substituted “that does not meet standards of credit-worthiness as established by the Corporation” for “not of investment grade”.
Pub. L. 111–203, § 939(a)(2)(F)(ii), redesignated subpar. (C) as (B). Former subpar. (B) redesignated (A).
Subsec. (d)(3)(C). Pub. L. 111–203, § 939(a)(2)(F)(ii), redesignated subpar. (C) as (B).
Subsec. (d)(4). Pub. L. 111–203, § 939(a)(2)(E), redesignated par. (4) as (3).
Subsec. (e). Pub. L. 111–203, § 939(a)(3)(A), struck out “not of investment grade” after “security” in heading.
Subsec. (e)(1). Pub. L. 111–203, § 939(a)(3)(B), substituted “that does not meet standards of credit-worthiness as established by the Corporation” for “not of investment grade” in introductory provisions.
Subsec. (e)(2)(A)(ii). Pub. L. 111–203, § 363(9)(A)(i)(I), substituted “Comptroller of the Currency or the Corporation, as appropriate” for “Director of the Office of Thrift Supervision”.
Subsec. (e)(2)(B). Pub. L. 111–203, § 939(a)(3)(C), substituted “that does not meet standards of credit-worthiness established by the Corporation” for “not of investment grade”.
Subsec. (e)(2)(C). Pub. L. 111–203, § 939(a)(3)(C), substituted “that does not meet standards of credit-worthiness established by the Corporation” for “not of investment grade”.
Pub. L. 111–203, § 363(9)(A)(i)(II), substituted “Comptroller of the Currency or the Corporation, as appropriate,” for “Director of the Office of Thrift Supervision”.
Subsec. (e)(2)(D), (E). Pub. L. 111–203, § 939(a)(3)(C), substituted “that does not meet standards of credit-worthiness established by the Corporation” for “not of investment grade”.
Subsec. (e)(2)(F). Pub. L. 111–203, § 363(9)(A)(i)(III), substituted “Comptroller of the Currency or the Corporation, as appropriate” for “Director of the Office of Thrift Supervision” in introductory provisions.
Subsec. (e)(2)(F)(ii). Pub. L. 111–203, § 939(a)(3)(C), substituted “that does not meet standards of credit-worthiness established by the Corporation” for “not of investment grade”.
Subsec. (e)(2)(G). Pub. L. 111–203, § 939(a)(3)(C), substituted “that does not meet standards of credit-worthiness established by the Corporation” for “not of investment grade” in two places.
Subsec. (e)(3)(A). Pub. L. 111–203, § 939(a)(3)(C), substituted “that does not meet standards of credit-worthiness established by the Corporation” for “not of investment grade”.
Pub. L. 111–203, § 363(9)(A)(ii)(I), substituted “Comptroller of the Currency or the Corporation, as appropriate” for “Director of the Office of Thrift Supervision”.
Subsec. (e)(3)(B). Pub. L. 111–203, § 939(a)(3)(C), substituted “that does not meet standards of credit-worthiness established by the Corporation” for “not of investment grade”.
Pub. L. 111–203, § 363(9)(A)(ii)(II), substituted “Comptroller of the Currency or the Corporation, as appropriate,” for “Director of the Office of Thrift Supervision” in introductory provisions.
Subsec. (h)(2). Pub. L. 111–203, § 363(9)(B), substituted “Comptroller of the Currency, of the Corporation,” for “Director of the Office of Thrift Supervision”.
2006—Subsecs. (a)(1), (b)(1), (c)(2)(A). Pub. L. 109–173 substituted “Deposit Insurance Fund” for “affected deposit insurance fund”.
Pub. L. 109–171 repealed Pub. L. 104–208, § 2704(d)(14)(X). See 1996 Amendment note below.
1996—Subsecs. (a)(1), (b)(1), (c)(2)(A). Pub. L. 104–208, § 2704(d)(14)(X), which directed substitution of “Deposit Insurance Fund” for “affected deposit insurance fund”, was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.
1994—Subsec. (c)(2)(A)(i). Pub. L. 103–325, § 602(a)(56), substituted “; or” for “, or”.
Subsec. (d)(4)(C). Pub. L. 103–325, § 602(a)(57), substituted “subparagraph” for “subparagraphs”.
Subsec. (e)(4). Pub. L. 103–325, § 602(a)(58), substituted “and any other” for “any other”.
1991—Subsecs. (h), (i). Pub. L. 102–242 redesignated subsec. (i) as (h) and struck out former subsec. (h) which required that all savings associations with uninsured deposits disclose in clear and conspicuous statements that its deposits were not insured.
Amendment by section 363(9) of Pub. L. 111–203 effective on the transfer date, see section 351 of Pub. L. 111–203, set out as a note under section 906 of Title 2, The Congress.
Amendment by section 939(a)(2), (3) of Pub. L. 111–203 effective 2 years after July 21, 2010, see section 939(g) of Pub. L. 111–203, set out as a note under section 24a of this title.
Amendment by Pub. L. 109–173 effective Mar. 31, 2006, see section 8(b) of Pub. L. 109–173, set out as a note under section 1813 of this title.
Amendment by Pub. L. 109–171 effective no later than the first day of the first calendar quarter that begins after the end of the 90-day period beginning Feb. 8, 2006, see section 2102(c) of Pub. L. 109–171, set out as a Merger of BIF and SAIF note under section 1821 of this title.
Amendment by Pub. L. 104–208 effective Jan. 1, 1999, if no insured depository institution is a savings association on that date, see section 2704(c) of Pub. L. 104–208, formerly set out as a note under section 1821 of this title.
Pub. L. 102–242, title I, § 151(a)(3), Dec. 19, 1991, 105 Stat. 2284, provided that the amendment made by that section is effective 1 year after Dec. 19, 1991.
  So in original. Probably should be section “1468”.

References: § 939
 § 939
 § 939
 § 939
 § 939
 § 939
 § 939
 § 939
 § 939
 § 363
 § 939
 § 939
 § 363
 § 939
 § 363
 § 939
 § 939
 § 939
 § 363
 § 939
 § 363
 § 363
 § 2704
 § 2704
 § 602
 § 602
 § 602
 § 151