§ 1821a. FSLIC Resolution Fund

Footnotes

1. 1 See References in Text note below.

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1950

   Financial Institutions Reform, Recovery, and Enforcement Act of 1989

   Pub. L. 101–73 title II § 215 · 103 Stat. 183

   Enacted · 12 U.S.C. § 1821a

   Sept. 21, 1950, ch. 967, § 2[11A], as added Pub. L. 101–73, title II, § 215, Aug. 9, 1989, 103 Stat. 252

   Source evidence

   Code source credit
   Sept. 21, 1950, ch. 967, § 2[11A], as added Pub. L. 101–73, title II, § 215, Aug. 9, 1989, 103 Stat. 252

   Enacted provision · exact public law section
   SEC. 215. FSLIC RESOLUTION FUND. The Federal Deposit Insurance Act is amended by inserting after section 11 the following: “SEC. 11A. FSLIC RESOLUTION FUND. “(a) Established.— “(1) In general.— There is established a separate fund to be designated as the FSLIC Resolution Fund which shall be managed by the Corporation and separately maintained and not commingled. “(2) Transfer of fslic assets and liabilities.— “(A) In general.— Except as provided in section 21A of the Federal Home Loan Bank Act, all assets and liabilities of the Federal Savings and Loan Insurance Corporation on the day before the date of the enactment of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 shall be transferred to the FSLIC Resolution Fund. “(B) Additional claims on assets.— The FSLIC Resolution Fund shall pay to the Savings Association Insurance Fund such amounts as are needed for administrative and supervisory expenses from the date of enactment of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 through September 30, 1991. “(3) Separate holding.— Assets and liabilities transferred to the FSLIC Resolution Fund shall be the assets and liabilities of the Fund and not of the Corporation and shall not be consolidated with the assets and liabilities of the Bank Insurance Fund, the Savings Association Insurance Fund, or the Corporation for accounting, reporting, or any other purpose. “(b) Source of Funds.— The FSLIC Resolution Fund shall be funded from the following sources to the extent funds are needed in the listed priority: “(1) Income earned on assets of the FSLIC Resolution Fund. “(2) Liquidating dividends and payments made on claims received by the FSLIC Resolution Fund from receiverships to the extent such funds are not required by the Resolution Funding Corporation pursuant to section 21B of the Federal Home Loan Bank Act or the Financing Corporation pursuant to section 21 of such Act. “(3) Amounts borrowed by the Financing Corporation pursuant to section 21 of the Federal Home Loan Bank Act. “(4) During the period beginning on the date of the enactment of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 and ending on December 31, 1991, amounts assessed against Savings Association Insurance Fund members by the Corporation pursuant to section 7 which are not required by the Financing Corporation pursuant to section 21 of the Federal Home Loan Bank Act or by the Resolution Funding Corporation pursuant to section 21B of the Federal Home Loan Bank Act. “(c) Treasury Backup.— “(1) In general.— If the funds described in subsections (a) and (b) are insufficient to satisfy the liabilities of the FSLIC Resolution Fund, the Secretary of the Treasury shall pay to the Fund such amounts as may be necessary, as determined by the Corporation and the Secretary, for FSLIC Resolution Fund purposes. “(2) Authorization of appropriations.— There are authorized to be appropriated to the Secretary of the Treasury, without fiscal year limitation, such sums as may be necessary to carry out this section. “(d) Legal Proceedings.— Any judgment resulting from a proceeding to which the Federal Savings and Loan Insurance Corporation was a party prior to its dissolution or which is initiated against the Corporation with respect to the Federal Savings and Loan Insurance Corporation or with respect to the FSLIC Resolution Fund shall be limited to the assets of the FSLIC Resolution Fund. “(e) Transfer of Net Proceeds From Sale of RTC Assets.— The FSLIC Resolution Fund shall transfer to the Resolution Funding Corporation any net proceeds from the sale of assets acquired from the Resolution Trust Corporation upon the termination of such Corporation pursuant to section 21A of the Federal Home Loan Bank Act. “(f) Dissolution.— The FSLIC Resolution Fund shall be dissolved upon satisfaction of all debts and liabilities and sale of all assets. Upon dissolution any remaining funds shall be paid into the Treasury. Any administrative facilities and supplies, including offices and office supplies, shall be transferred to the Corporation for use by and to be held as assets of the Savings Association Insurance Fund.”.

2. 1991

   Pub. L. 102–233 § 202(c) · 105 Stat. 1767

   Substituted · 12 U.S.C. § 1821a(a)(2)(B)

   Pub. L. 102–233, § 202(c), substituted “1992” for “1991”

   Unresolved: Pub. L. 102–233 was not found in the local Statutes at Large index.

   Source evidence

   Code amendment note
   Subsec. (a)(2)(B). Pub. L. 102–233, § 202(c), substituted “1992” for “1991”.

3. 1991

   Pub. L. 102–233 § 202(d) · 105 Stat. 1767

   Substituted · 12 U.S.C. § 1821a(b)(4)

   Pub. L. 102–233, § 202(d), substituted “1992” for “1991”

   Unresolved: Pub. L. 102–233 was not found in the local Statutes at Large index.

   Source evidence

   Code amendment note
   Subsec. (b)(4). Pub. L. 102–233, § 202(d), substituted “1992” for “1991”.

4. 1991

   Federal Deposit Insurance Corporation Improvement Act of 1991

   Pub. L. 102–242 title I § 161(b) · 105 Stat. 2236

   Added · 12 U.S.C. § 1821a(a)(4); 12 U.S.C. § 1821a(a)(5)

   Pub. L. 102–242 added pars. (4) and (5)

   Source evidence

   Code amendment note
   Subsec. (a)(4), (5). Pub. L. 102–242 added pars. (4) and (5).

   Enacted provision · exact public law section
   (b) Clarification of FDIC Powers in FSLIC Resolution Fund Conservatorships and Receiverships.— Section 11A(a) of the Federal Deposit Insurance Act (12 U.S.C. 1821a(a)) is amended by adding at the end the following new paragraphs: “(4) Effective date. Rights, powers, and duties.— Effective August 10, 1989, the Corporation shall have all rights, powers, and duties to carry out the Corporation’s duties with respect to the assets and liabilities of the FSLIC Resolution Fund that the Corporation otherwise has under this Act. “(5) Corporation as conservator or receiver.— “(A) In general.— Effective August 10, 1989, the Corporation shall succeed the Federal Savings and Loan Insurance Corporation as conservator or receiver with respect to any depository institution— “(i) the accounts of which were insured before August 10, 1989 by the Federal Savings and Loan Insurance Corporation; and “(ii) for which a conservator or receiver was appointed before January 1, 1989. “(B) Rights, powers, and duties.— When acting as conservator or receiver with respect to any depository institution described in subparagraph (A), the Corporation shall have all rights, powers, and duties that the Corporation otherwise has as conservator or receiver under this Act.”.

5. 1996

   Deposit Insurance Funds Act of 1996

   Pub. L. 104–208 § 2704(d)(14)(J)(i) · 110 Stat. 3009

   1. Struck · 12 U.S.C. § 1821a(a)(2)

      Pub. L. 104–208, § 2704(d)(14)(J)(i), (ii), which directed striking out subpar. (A) heading and subpar. (B)

   2. Redesignated · 12 U.S.C. § 1821a(a)(2)

      Pub. L. 104–208, § 2704(d)(14)(J)(i), (ii), which directed redesignating subpar. (A) as par. (2), was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above

   Source evidence

   Code amendment note
   Subsec. (a)(2). Pub. L. 104–208, § 2704(d)(14)(J)(i), (ii), which directed striking out subpar. (A) heading and subpar. (B) and redesignating subpar. (A) as par. (2), was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.

   Enacted provision · exact public law section
   (i) in paragraph (2), by striking “liabilities.—” and all that follows through “Except” and inserting “liabilities.—Except”;

6. 1996

   Deposit Insurance Funds Act of 1996

   Pub. L. 104–208 § 2704(d)(14)(J)(iii) · 110 Stat. 3009

   Repealed · 12 U.S.C. § 1821a(a)(3)

   Pub. L. 104–208, § 2704(d)(14)(J)(iii), which directed substitution of “the Deposit Insurance Fund” for “the Bank Insurance Fund, the Savings Association Insurance Fund,”, was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above

   Source evidence

   Code amendment note
   Subsec. (a)(3). Pub. L. 104–208, § 2704(d)(14)(J)(iii), which directed substitution of “the Deposit Insurance Fund” for “the Bank Insurance Fund, the Savings Association Insurance Fund,”, was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.

   Enacted provision · exact public law section
   (iii) in paragraph (3), by striking “the Bank Insurance Fund, the Savings Association Insurance Fund,” and inserting “the Deposit Insurance Fund”;

7. 1996

   Deposit Insurance Funds Act of 1996

   Pub. L. 104–208 § 2704(d)(14)(K) · 110 Stat. 3009

   Repealed · 12 U.S.C. § 1821a(b)(4)

   Pub. L. 104–208, § 2704(d)(14)(K), which directed striking out par. (4), was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above

   Source evidence

   Code amendment note
   Subsec. (b)(4). Pub. L. 104–208, § 2704(d)(14)(K), which directed striking out par. (4), was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.

   Enacted provision · exact public law section
   (K) in section UA(b) (12 U.S.C. 1821a(b)), by striking paragraph (4);

8. 1996

   Deposit Insurance Funds Act of 1996

   Pub. L. 104–208 § 2704(d)(14)(L) · 110 Stat. 3009

   Repealed · 12 U.S.C. § 1821a(f)

   Pub. L. 104–208, § 2704(d)(14)(L), which directed substitution of “Deposit Insurance Fund” for “Savings Association Insurance Fund”, was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above

   Source evidence

   Code amendment note
   Subsec. (f). Pub. L. 104–208, § 2704(d)(14)(L), which directed substitution of “Deposit Insurance Fund” for “Savings Association Insurance Fund”, was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.

   Enacted provision · exact public law section
   (L) in section 11A(f) (12 U.S.C. 1821a(f)), by striking “Savings Association Insurance Fund” and inserting “Deposit Insurance Fund”;

9. 2006

   Federal Deposit Insurance Reform Act of 2005

   Pub. L. 109–171 title II § 2102(b) · 120 Stat. 4

   Repealed · 12 U.S.C. § 1821a(a)(2)

   Pub. L. 109–171 repealed Pub. L. 104–208, § 2704(d)(14)(J)(i), (ii). See 1996 Amendment note below

   Target inherited from the preceding amendment note.

   Source evidence

   Code amendment note
   Pub. L. 109–171 repealed Pub. L. 104–208, § 2704(d)(14)(J)(i), (ii). See 1996 Amendment note below.

   Enacted provision · exact public law section
   (b) Repeal of Outdated Merger Provision.— Section 2704 of the Deposit Insurance Funds Act of 1996 (12 U.S.C. 1821 note) is repealed.

   Effective date note
   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.

10. 2006

    Federal Deposit Insurance Reform Act of 2005

    Pub. L. 109–171 title II § 2102(b) · 120 Stat. 4

    Repealed · 12 U.S.C. § 1821a(a)(3)

    Pub. L. 109–171 repealed Pub. L. 104–208, § 2704(d)(14)(J)(iii). See 1996 Amendment note below

    Target inherited from the preceding amendment note.

    Source evidence

    Code amendment note
    Pub. L. 109–171 repealed Pub. L. 104–208, § 2704(d)(14)(J)(iii). See 1996 Amendment note below.

    Enacted provision · exact public law section
    (b) Repeal of Outdated Merger Provision.— Section 2704 of the Deposit Insurance Funds Act of 1996 (12 U.S.C. 1821 note) is repealed.

    Effective date note
    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.

11. 2006

    Federal Deposit Insurance Reform Act of 2005

    Pub. L. 109–171 title II § 2102(b) · 120 Stat. 4

    Repealed · 12 U.S.C. § 1821a(b)(4)

    Pub. L. 109–171 repealed Pub. L. 104–208, § 2704(d)(14)(K). See 1996 Amendment note below

    Target inherited from the preceding amendment note.

    Source evidence

    Code amendment note
    Pub. L. 109–171 repealed Pub. L. 104–208, § 2704(d)(14)(K). See 1996 Amendment note below.

    Enacted provision · exact public law section
    (b) Repeal of Outdated Merger Provision.— Section 2704 of the Deposit Insurance Funds Act of 1996 (12 U.S.C. 1821 note) is repealed.

    Effective date note
    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.

12. 2006

    Federal Deposit Insurance Reform Act of 2005

    Pub. L. 109–171 title II § 2102(b) · 120 Stat. 4

    Repealed · 12 U.S.C. § 1821a(f)

    Pub. L. 109–171 repealed Pub. L. 104–208, § 2704(d)(14)(L). See 1996 Amendment note below

    Target inherited from the preceding amendment note.

    Source evidence

    Code amendment note
    Pub. L. 109–171 repealed Pub. L. 104–208, § 2704(d)(14)(L). See 1996 Amendment note below.

    Enacted provision · exact public law section
    (b) Repeal of Outdated Merger Provision.— Section 2704 of the Deposit Insurance Funds Act of 1996 (12 U.S.C. 1821 note) is repealed.

    Effective date note
    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.

13. 2006

    Federal Deposit Insurance Reform Conforming Amendments Act of 2005

    Pub. L. 109–173 § 8(a)(15)(A) · 119 Stat. 3601

    1. Struck · 12 U.S.C. § 1821a(a)(2)

       Pub. L. 109–173, § 8(a)(15)(A), (B), struck out subpar. (A) designation and heading before “Except as”

    2. Struck · 12 U.S.C. § 1821a(a)(2)

       Pub. L. 109–173, § 8(a)(15)(A), (B), struck out heading and text of subpar. (B). Text read as follows: “The FSLIC Resolution Fund shall pay to the Savings Association Insurance Fund such amounts as are needed for administrative and supervisory expenses from August 9, 1989, through September 30, 1992.”

    Source evidence

    Code amendment note
    Subsec. (a)(2). Pub. L. 109–173, § 8(a)(15)(A), (B), struck out subpar. (A) designation and heading before “Except as” and struck out heading and text of subpar. (B). Text read as follows: “The FSLIC Resolution Fund shall pay to the Savings Association Insurance Fund such amounts as are needed for administrative and supervisory expenses from August 9, 1989, through September 30, 1992.”

    Enacted provision · exact public law section
    (A) in paragraph (2), by striking “liabilities.—” and all that follows through “Except” and inserting “liabilities.—Except”;

    Effective date note
    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.

14. 2006

    Federal Deposit Insurance Reform Conforming Amendments Act of 2005

    Pub. L. 109–173 § 8(a)(15)(C) · 119 Stat. 3601

    Substituted · 12 U.S.C. § 1821a(a)(3)

    Pub. L. 109–173, § 8(a)(15)(C), substituted “the Deposit Insurance Fund” for “the Bank Insurance Fund, the Savings Association Insurance Fund,”

    Source evidence

    Code amendment note
    Subsec. (a)(3). Pub. L. 109–173, § 8(a)(15)(C), substituted “the Deposit Insurance Fund” for “the Bank Insurance Fund, the Savings Association Insurance Fund,”.

    Enacted provision · exact public law section
    (C) in paragraph (3), by striking “the Bank Insurance Fund, the Savings Association Insurance Fund,” and inserting “the Deposit Insurance Fund”;

    Effective date note
    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.

15. 2006

    Federal Deposit Insurance Reform Conforming Amendments Act of 2005

    Pub. L. 109–173 § 8(a)(16) · 119 Stat. 3601

    Struck · 12 U.S.C. § 1821a(b)(4)

    Pub. L. 109–173, § 8(a)(16), struck out par. (4) which read as follows: “During the period beginning on August 9, 1989, and ending on December 31, 1992, amounts assessed against Savings Association Insurance Fund members by the Corporation pursuant to section 1817 of this title which are not required by the Financing Corporation pursuant to section 1441 of this title or by the Resolution Funding Corporation pursuant to section 1441b of this title.”

    Source evidence

    Code amendment note
    Subsec. (b)(4). Pub. L. 109–173, § 8(a)(16), struck out par. (4) which read as follows: “During the period beginning on August 9, 1989, and ending on December 31, 1992, amounts assessed against Savings Association Insurance Fund members by the Corporation pursuant to section 1817 of this title which are not required by the Financing Corporation pursuant to section 1441 of this title or by the Resolution Funding Corporation pursuant to section 1441b of this title.”

    Enacted provision · exact public law section
    (16) in section 11A(b) (12 U.S.C. 1821a(b)), by striking paragraph (4);

    Effective date note
    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.

16. 2006

    Federal Deposit Insurance Reform Conforming Amendments Act of 2005

    Pub. L. 109–173 § 8(a)(17) · 119 Stat. 3601

    Substituted · 12 U.S.C. § 1821a(f)

    Pub. L. 109–173, § 8(a)(17), substituted “Deposit Insurance Fund” for “Savings Association Insurance Fund”

    Source evidence

    Code amendment note
    Subsec. (f). Pub. L. 109–173, § 8(a)(17), substituted “Deposit Insurance Fund” for “Savings Association Insurance Fund”.

    Enacted provision · exact public law section
    (17) in section 11A(f) (12 U.S.C. 1821a(f)), by striking “Savings Association Insurance Fund” and inserting “Deposit Insurance Fund”;

    Effective date note
    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.

16 of 18 references resolved to an enrolled provision · 2 unresolved