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NOTES:
Source
(Sept. 21, 1950, ch. 967, § 2[25], as added Pub. L. 93–533, § 11(a), Dec. 22, 1974, 88 Stat. 1729; amended Pub. L. 95–369, § 6(c)(30), Sept. 17, 1978, 92 Stat. 620; Pub. L. 101–73, title II, § 201(a), Aug. 9, 1989, 103 Stat. 187; Pub. L. 103–325, title VI, § 602(a)(55), Sept. 23, 1994, 108 Stat. 2290.)
Amendments
1994—Subsec. (a). Pub. L. 103–325 substituted “the insured depository institution, insured branch, or bank” for “the bank” in two places.
1989—Pub. L. 101–73 substituted references to insured depository institutions for references to insured banks wherever appearing in this section.
1978—Subsec. (a). Pub. L. 95–369 inserted “insured branch of a foreign bank” after “No insured bank”.
Effective Date
Section effective 180 days after Dec. 22, 1974, see section 20 of Pub. L. 93–533, set out as a note under section
2601 of this title.
Exemptions; Regulations
Section 11(c) of Pub. L. 93–533 provided that: “The Federal Deposit Insurance Corporation or the Federal Home Loan Bank Board as appropriate may by regulation exempt classes or types of transactions from the provisions added by this section [enacting this section and section
1730f of this title] if the Corporation or the Board determines that the purposes of such provisions would not be advanced materially by their application to such transactions.”
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