12 U.S.C. § 1461 — Short title

Page 355 TITLE 12—BANKS AND BANKING § 1462 (Pub. L. 91–351, title III, § 309, July 24, 1970, 84 Stat. 457.) § 1459. Separability Notwithstanding any other evidences of the intention of Congress, it is hereby declared to be the controlling intent of Congress that if any provision of this chapter, or the application thereof to any person or circumstances, is held invalid, the remainder of this chapter, or the ap- plication of such provision to persons or cir- cumstances other than those as to which it is held invalid, shall not be affected thereby. (Pub. L. 91–351, title III, § 310, July 24, 1970, 84 Stat. 457; Pub. L. 101–73, title VII, § 731(l), Aug. 9, 1989, 103 Stat. 435.) Editorial Notes AMENDMENTS 1989—Pub. L. 101–73 amended section catchline and struck out first sentence which read as follows: ‘‘Ex- cept as otherwise provided in this chapter, or as other- wise provided by the Corporation or by laws hereafter enacted by the Congress expressly in limitation of pro- visions of this chapter, the powers and functions of the Corporation and of the Board of Directors shall be exer- cisable, and the provisions of this chapter shall be ap- plicable and effective, without regard to any other law.’’ CHAPTER 12—SAVINGS ASSOCIATIONS Sec. 1461. Short title. 1462. Definitions. 1462a. Administrative provisions. 1463. Supervision of savings associations. 1464. Federal savings associations. 1464a. Election to operate as a covered savings asso- ciation. 1465. State law preemption standards for Federal savings associations clarified. 1466. Applicability. 1466a. District associations. 1467. Examination fees. 1467a. Regulation of holding companies. 1467b. Intermediate holding companies. 1468. Transactions with affiliates; extensions of credit to executive officers, directors, and principal shareholders. 1468a. Advertising. 1468b. Powers of examiners. 1468c. Separability. 1469. Authority to invest in State housing corpora- tions. 1470. Federal supervision of insured institutions, State member and nonmember banks; ac- cess to information; definitions. § 1461. Short title This chapter may be cited as the ‘‘Home Own- ers’ Loan Act.’’ (June 13, 1933, ch. 64, § 1 (part), 48 Stat. 128; Pub. L. 101–73, title III, § 301, Aug. 9, 1989, 103 Stat. 277.) Editorial Notes CODIFICATION Section is comprised of the first sentence of section 1 of act June 13, 1933. The remainder of section 1 of the Act included a table of contents for the Act. AMENDMENTS 1989—Pub. L. 101–73 amended section generally, strik- ing out ‘‘of 1933’’ after ‘‘Act’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1989 AMENDMENT Pub. L. 101–73, title III, § 305(c), Aug. 9, 1989, 103 Stat. 352, provided that: ‘‘The amendments made by section 301 [amending this chapter] relating to civil penalties shall apply with respect to violations committed and activities engaged in after the date of the enactment of this Act [Aug. 9, 1989], except that the increased max- imum civil penalties of $5,000 and $25,000 per violation or per day may apply to such violations or activities committed or engaged in before such date with respect to an institution if such violations or activities— ‘‘(1) are not already subject to a notice issued by the appropriate Federal banking agency or the Board (initiating an administrative proceeding); and ‘‘(2) occurred after the completion of the last report of examination of the institution by the appropriate Federal banking agency (as defined in section 3 of the Federal Deposit Insurance Act [12 U.S.C. 1813]) occur- ring before the date of the enactment of this Act.’’ SHORT TITLE OF 1998 AMENDMENT Pub. L. 105–164, § 1, Mar. 20, 1998, 112 Stat. 32, provided that: ‘‘This Act [enacting section 1786a of this title, amending sections 1464 and 1818 of this title, and enact- ing provisions set out as a note under section 1811 of this title] may be cited as the ‘Examination Parity and Year 2000 Readiness for Financial Institutions Act’.’’ SHORT TITLE OF 1991 AMENDMENT Pub. L. 102–242, title IV, § 436, Dec. 19, 1991, 105 Stat. 2381, provided that: ‘‘This subtitle [subtitle G (§§ 436–441) of title IV of Pub. L. 102–242, amending sec- tions 1464 and 1467a of this title] may be cited as the ‘Qualified Thrift Lender Reform Act of 1991’.’’ SHORT TITLE OF 1982 AMENDMENT Pub. L. 97–320, title III, § 301, Oct. 15, 1982, 96 Stat. 1496, provided that: ‘‘This title [enacting section 1701j–3 of this title, amending sections 1425a, 1426, 1428a, 1430, 1464, 1725, 1730a, 1841, and 3503 of this title, enacting provisions set out as a note under section 3503 of this title, and repealing provisions set out as a note under section 461 of this title] may be cited as the ‘Thrift In- stitutions Restructuring Act’.’’ § 1462. Definitions For purposes of this chapter— (1) Corporation The term ‘‘Corporation’’ means the Federal Deposit Insurance Corporation. (2) Savings association The term ‘‘savings association’’ means a savings association, as defined in section 3 of the Federal Deposit Insurance Act [12 U.S.C. 1813], the deposits of which are insured by the Corporation. (3) Federal savings association The term ‘‘Federal savings association’’ means a Federal savings association or a Fed- eral savings bank chartered under section 1464 of this title. (4) National bank The term ‘‘national bank’’ has the same meaning as in section 3 of the Federal Deposit Insurance Act [12 U.S.C. 1813]. (5) Federal banking agencies The term ‘‘Federal banking agencies’’ means the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation.