Source: https://www.law.cornell.edu/uscode/text/12/1831v?quicktabs_8=2
Timestamp: 2016-02-10 05:01:23
Document Index: 11022246

Matched Legal Cases: ['§ 1831', '§ 1831', '§ 1831', '§\u202f1831', '§\u202f2', '§\u202f112', '§\u202f604']

12 U.S. Code § 1831v - Authority of State insurance regulator and Securities and Exchange Commission | US Law | LII / Legal Information Institute
U.S. Code › Title 12 › Chapter 16 › § 1831v 12 U.S. Code § 1831v - Authority of State insurance regulator and Securities and Exchange Commission
§ 1831v.
Authority of State insurance regulator and Securities and Exchange Commission
(a) In generalNotwithstanding any other provision of law, the provisions of—
section 1844(c) of this title that limit the authority of the Board of Governors of the Federal Reserve System to require reports from, to make examinations of, or to impose capital requirements on holding companies and their functionally regulated subsidiaries or that require deference to other regulators;
section 1844(g) of this title that limit the authority of the Board to require a functionally regulated subsidiary of a holding company to provide capital or other funds or assets to a depository institution subsidiary of the holding company and to take certain actions including requiring divestiture of the depository institution; and
section 1848a [1] of this title that limit whatever authority the Board might otherwise have to take direct or indirect action with respect to holding companies and their functionally regulated subsidiaries;
No provision of this section shall be construed as preventing the Corporation, if the Corporation finds it necessary to determine the condition of a depository institution for insurance purposes, from examining an affiliate of any depository institution, pursuant to section 1820(b)(4) of this title, as may be necessary to disclose fully the relationship between the depository institution and the affiliate, and the effect of such relationship on the depository institution.
(1) Functionally regulated subsidiary
The term “functionally regulated subsidiary” has the meaning given the term in section 1844(c)(5) of this title.
(2) Functionally regulated affiliateThe term “functionally regulated affiliate” means, with respect to any depository institution, any affiliate of such depository institution that is—
a company described in any clause of section 1844(c)(5)(B) of this title.
(Sept. 21, 1950, ch. 967, § 2[45], as added Pub. L. 106–102, title I, § 112(b), Nov. 12, 1999, 113 Stat. 1367.)
Section 1848a of this title, referred to in subsec. (a)(3), was repealed by Pub. L. 111–203, title VI, § 604(c)(2), July 21, 2010, 124 Stat. 1601.