12 U.S.C. § 3207 — Rules and regulations

Page 1515 TITLE 12—BANKS AND BANKING § 3208 1 See References in Text note below. as follows: ‘‘the Director of the Office of Thrift Super- vision with respect to a savings association (the depos- its of which are insured by the Federal Deposit Insur- ance Corporation) and savings and loan holding compa- nies,’’. Par. (5). Pub. L. 111–203, § 360(1)(E), (F), redesignated par. (6) as (5) and substituted ‘‘through (4)’’ for ‘‘through (5)’’. Former par. (5) redesignated (4). Par. (6). Pub. L. 111–203, § 360(1)(E), redesignated par. (6) as (5). Former par. (5) redesignated (4). 2004—Par. (1). Pub. L. 108–386 struck out ‘‘and banks located in the District of Columbia’’ after ‘‘national banks’’. 1989—Par. (4). Pub. L. 101–73 amended par. (4) gen- erally. Prior to amendment, par. (4) read as follows: ‘‘the Federal Home Loan Bank Board with respect to institutions the accounts of which are insured by the Federal Savings and Loan Insurance Corporation, and savings and loan holding companies,’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2010 AMENDMENT Amendment by Pub. L. 111–203 effective on the trans- fer date, see section 351 of Pub. L. 111–203, set out as a note under section 906 of Title 2, The Congress. EFFECTIVE DATE OF 2004 AMENDMENT Amendment by Pub. L. 108–386 effective Oct. 30, 2004, and, except as otherwise provided, applicable with re- spect to fiscal year 2005 and each succeeding fiscal year, see sections 8(i) and 9 of Pub. L. 108–386, set out as notes under section 321 of this title. EFFECTIVE DATE Section effective upon the expiration of 120 days after Nov. 10, 1978, see section 2101 of Pub. L. 95–630, set out as a note under section 375b of this title. § 3207. Rules and regulations Regulations to carry out this chapter, includ- ing regulations that permit service by a man- agement official that would otherwise be prohib- ited by section 3202 of this title or section 3203 of this title, if such service would not result in a monopoly or substantial lessening of competi- tion, may be prescribed by— (1) the Comptroller of the Currency with re- spect to national banks and Federal savings associations (the deposits of which are insured by the Federal Deposit Insurance Corpora- tion), (2) the Board of Governors of the Federal Re- serve System with respect to State banks which are members of the Federal Reserve System, bank holding companies, and savings and loan holding companies, (3) the Board of Directors of the Federal De- posit Insurance Corporation with respect to State banks which are not members of the Federal Reserve System but the deposits of which are insured by the Federal Deposit In- surance Corporation and State savings asso- ciations (the deposits of which are insured by the Federal Deposit Insurance Corporation), (4) the National Credit Union Administra- tion with respect to credit unions the accounts of which are insured by the National Credit Union Administration. (Pub. L. 95–630, title II, § 209, Nov. 10, 1978, 92 Stat. 3675; Pub. L. 103–325, title III, § 338(b), Sept. 23, 1994, 108 Stat. 2236; Pub. L. 104–208, div. A, title II, § 2210(c), Sept. 30, 1996, 110 Stat. 3009–410; Pub. L. 108–386, § 8(e)(2), Oct. 30, 2004, 118 Stat. 2232; Pub. L. 111–203, title III, § 360(2), July 21, 2010, 124 Stat. 1549.) Editorial Notes AMENDMENTS 2010—Par. (1). Pub. L. 111–203, § 360(2)(A), inserted ‘‘and Federal savings associations (the deposits of which are insured by the Federal Deposit Insurance Corporation)’’ before the comma. Par. (2). Pub. L. 111–203, § 360(2)(B), substituted ‘‘, bank holding companies, and savings and loan hold- ing companies’’ for ‘‘, and bank holding companies’’. Par. (3). Pub. L. 111–203, § 360(2)(C), substituted ‘‘Cor- poration and State savings associations (the deposits of which are insured by the Federal Deposit Insurance Corporation),’’ for ‘‘Corporation,’’. Pars. (4), (5). Pub. L. 111–203, § 360(2)(D), (E), redesig- nated par. (5) as (4) and struck out former par. (4) which read as follows: ‘‘the Director of the Office of Thrift Su- pervision with respect to institutions the accounts of which are insured by the Federal Deposit Insurance Corporation, and savings and loan holding companies, and’’. 2004—Par. (1). Pub. L. 108–386 struck out ‘‘and banks located in the District of Columbia’’ after ‘‘national banks’’. 1996—Pub. L. 104–208 redesignated subsec. (a) as entire section, in introductory provisions, substituted ‘‘Regu- lations’’ for ‘‘Rules and regulations’’ and inserted ‘‘, including regulations that permit service by a man- agement official that would otherwise be prohibited by section 3202 of this title or section 3203 of this title, if such service would not result in a monopoly or substan- tial lessening of competition,’’ after ‘‘chapter’’, in par. (4), substituted ‘‘Director of the Office of Thrift Super- vision’’ for ‘‘Federal Home Loan Bank Board’’ and ‘‘Federal Deposit Insurance Corporation’’ for ‘‘Federal Savings and Loan Insurance Corporation’’, and struck out subsecs. (b) and (c), which related to regulatory standards, and to limited exception for management of- ficial consignment program, respectively. 1994—Pub. L. 103–325 designated existing provisions as subsec. (a), inserted heading, struck out ‘‘, including rules or regulations which permit service by a manage- ment official which would otherwise be prohibited by section 3202 or section 3203 of this title,’’ after ‘‘Rules and regulations to carry out this chapter’’ in introduc- tory provisions, and added subsecs. (b) and (c). Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2010 AMENDMENT Amendment by Pub. L. 111–203 effective on the trans- fer date, see section 351 of Pub. L. 111–203, set out as a note under section 906 of Title 2, The Congress. EFFECTIVE DATE OF 2004 AMENDMENT Amendment by Pub. L. 108–386 effective Oct. 30, 2004, and, except as otherwise provided, applicable with re- spect to fiscal year 2005 and each succeeding fiscal year, see sections 8(i) and 9 of Pub. L. 108–386, set out as notes under section 321 of this title. EFFECTIVE DATE Section effective upon the expiration of 120 days after Nov. 10, 1978, see section 2101 of Pub. L. 95–630, set out as a note under section 375b of this title. § 3208. Powers available to Attorney General for enforcement (a) For the purpose of the exercise by the At- torney General of the enforcement functions of the Attorney General under section 3206(6) 1 of this title, all of the functions and powers of the