§ 3203. Dual service of management official of $2,500,000,000 institution or holding company as management official of unaffiliated $1,500,000,000 institution or holding company prohibited

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. 1978

   Depository Institution Management Interlocks Act

   Pub. L. 95–630 title II § 204 · 92 Stat. 3641

   Enacted · 12 U.S.C. § 3203

   Pub. L. 95–630, title II, § 204, Nov. 10, 1978, 92 Stat. 3673

   Source evidence

   Code source credit
   Pub. L. 95–630, title II, § 204, Nov. 10, 1978, 92 Stat. 3673

   Enacted provision · exact public law section
   Sec. 204. If a depository institution or a depository holding company Service in another institution, prohibition. 12 USC 3203. has total assets exceeding $1,000,000,000, a management official of such institution or any affiliate thereof may not serve as a management official of any other nonaffiliated depository institution or depository holding company having total assets exceeding $500,000,000 or as a management official of any affiliate of such other institution.

2. 1996

   Department of Commerce and Related Agencies Appropriations Act, 1997

   Pub. L. 104–208 div. A title II § 2210(a) · 110 Stat. 3009

   1. Substituted · 12 U.S.C. § 3203

      Pub. L. 104–208 substituted “$2,500,000,000” for “$1,000,000,000”

   2. Substituted · 12 U.S.C. § 3203

      Pub. L. 104–208 substituted “$1,500,000,000” for “$500,000,000”

   3. Inserted · 12 U.S.C. § 3203

      Pub. L. 104–208 inserted at end “In order to allow for inflation or market changes, the appropriate Federal depository institutions regulatory agencies may, by regulation, adjust, as necessary, the amount of total assets required for depository institutions or depository holding companies under this section.”

   Source evidence

   Code amendment note
   Pub. L. 104–208 substituted “$2,500,000,000” for “$1,000,000,000” and “$1,500,000,000” for “$500,000,000” and inserted at end “In order to allow for inflation or market changes, the appropriate Federal depository institutions regulatory agencies may, by regulation, adjust, as necessary, the amount of total assets required for depository institutions or depository holding companies under this section.”

   Enacted provision · exact public law section
   (a) Dual Service Among Larger Organizations.— Section 204 of the Depository Institution Management Interlocks Act (12 U.S.C. 3203) is amended— (1) by striking “$1,000,000,000” and inserting “$2,500,000,000”; (2) by striking “$500,000,000” and inserting “$1,500,000,000”; and (3) by adding at the end the following: “In order to allow for inflation or market changes, the appropriate Federal depository institutions regulatory agencies may, by regulation, adjust, as necessary, the amount of total assets required for depository institutions or depository holding companies under this section.”.

4 of 4 references resolved to an enrolled provision