§ 5364. Prohibition against management interlocks between certain financial companies

Footnotes

1. 1 So in original. Probably should be “Institution”.
2. 2 So in original. There is no section 7 of such Act.

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. 2010

   Financial Stability Act of 2010

   Pub. L. 111–203 title I § 164 · 124 Stat. 1376

   Enacted · 12 U.S.C. § 5364

   Pub. L. 111–203, title I, § 164, July 21, 2010, 124 Stat. 1423

   Source evidence

   Code source credit
   Pub. L. 111–203, title I, § 164, July 21, 2010, 124 Stat. 1423

   Enacted provision · exact public law section
   SEC. 164. PROHIBITION AGAINST MANAGEMENT INTERLOCKS BETWEEN CERTAIN FINANCIAL COMPANIES.   A nonbank financial company supervised by the Board of Governors shall be treated as a bank holding company for purposes of the Depository Institutions Management Interlocks Act (12 U.S.C. 3201 et seq.), except that the Board of Governors shall not exercise the authority provided in section 7 of that Act (12 U.S.C. 3207) to permit service by a management official of a nonbank financial company supervised by the Board of Governors as a management official of any bank holding company with total consolidated assets equal to or greater than $50,000,000,000, or other nonaffiliated nonbank financial company supervised by the Board of Governors (other than to provide a temporary exemption for interlocks resulting from a merger, acquisition, or consolidation).

2. 2018

   Economic Growth, Regulatory Relief, and Consumer Protection Act

   Pub. L. 115–174 title IV § 401(c)(1)(F) · 132 Stat. 1296

   Substituted · 12 U.S.C. § 5364

   Pub. L. 115–174 substituted “$250,000,000,000” for “$50,000,000,000”

   Source evidence

   Code amendment note
   Pub. L. 115–174 substituted “$250,000,000,000” for “$50,000,000,000”.

   Enacted provision · exact public law section
   (F) in section 164 (12 U.S.C. 5364), by striking “$50,000,000,000” and inserting “$250,000,000,000”.

   Effective date note
   Except as otherwise provided, amendment by Pub. L. 115–174 effective 18 months after May 24, 2018, see section 401(d) of Pub. L. 115–174, set out as a note under section 5365 of this title.

2 of 2 references resolved to an enrolled provision