12 U.S.C. § 1462

Current through P.L. 118-82 (published on www.congress.gov on 09/20/2024)
Section 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 Federal 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.

(6) State

The term "State" has the same meaning as in section 3 of the Federal Deposit Insurance Act [ 12 U.S.C. 1813 ].

(7) Affiliate

The term "affiliate" means any person that controls, is controlled by, or is under common control with, a savings association, except as provided in section 1467a of this title.

(8) Board

The term "Board", other than in the context of the Board of Directors of the Corporation, means the Board of Governors of the Federal Reserve System.

(9) Comptroller

The term "Comptroller" means the Comptroller of the Currency.

(10) Appropriate Federal banking agency

The term "appropriate Federal banking agency" has the same meaning as in section 3(q) of the Federal Deposit Insurance Act ( 12 U.S.C. 1813(q) ).

(11) Functionally regulated subsidiary

The term "functionally regulated subsidiary" has the same meaning as in section 5(c)(5) of the Bank Holding Company Act of 1956 ( 12 U.S.C. 1844(c)(5) ).

12 U.S.C. § 1462

June 13, 1933, ch. 64, §2, 48 Stat. 128; June 27, 1934, ch. 847, title V, §508(a), 48 Stat. 1264; May 28, 1935, ch. 150, §10, 49 Stat. 296; 1947 Reorg. Plan No. 3, eff. July 27, 1947, 12 F.R. 4981, 61 Stat. 954; Aug. 11, 1955, ch. 783, title I, §109(a)(3), 69 Stat. 640; Pub. L. 95-630 §1201, Nov. 10, 1978, 92 Stat. 3710; Pub. L. 97-320 §114(a), Oct. 15, 1982, 96 Stat. 1475; Pub. L. 101-73 §301, Aug. 9, 1989, 103 Stat. 277; Pub. L. 111-203 §369(2), title VI, §604(h)(1), July 21, 2010, 124 Stat. 1557, 1602.

EDITORIAL NOTES

AMENDMENTS2010-Pars. (1) to (9). Pub. L. 111-203 §369(2), redesignated pars. (2) and (4) to (9) as (1) and (2) to (7), respectively, added pars. (8) and (9), and struck out former pars. (1) and (3) which read as follows:"(1) DIRECTOR.-The term 'Director' means the Director of the Office of Thrift Supervision."(3) OFFICE.-The term 'Office' means the Office of Thrift Supervision."Pars. (10), (11). Pub. L. 111-203 §604(h)(1), added pars. (10) and (11).1989- Pub. L. 101-73 amended section generally, substituting definition of "Director", "Corporation", "Office", "savings association", "Federal savings association", "national bank", "Federal banking agencies", "State", and "affiliate", designated as pars. (1) to (9), for definition of "Board", "Corporation", "home mortgage", "first mortgage", and "association", designated as subsecs. (a) to (d).1982-Subsec. (d). Pub. L. 97-320 substituted reference to Federal savings bank or Federal savings banks for reference to Federal mutual savings bank wherever appearing. 1978-Subsec. (d). Pub. L. 95-630 included a Federal mutual savings bank chartered by the Board within definition of "association", and inserted provisions that a reference to a Federal savings and loan association shall be deemed also a reference to a Federal mutual savings bank.1935-Subsec. (c). Act May 28, 1935, inserted "or dwellings" and "in whole or in part" in cl. (2). 1934-Subsec. (c). Act June 27, 1934, substituted "(1) under a lease for not less than ninety-nine years which is renewable, or (2) under a lease having a period of not less than fifty years to run from the date the mortgage was executed" for "under a lease renewable for not less than ninety nine years".

STATUTORY NOTES AND RELATED SUBSIDIARIES

CHANGE OF NAME"Home Loan Bank Board" changed to "Federal Home Loan Bank Board" by act Aug. 11, 1955, ch. 783, §109(a)(3), which was classified to section 1437(b) of this title prior to the repeal of section 1437 by Pub. L. 101-73 §703(a), Aug. 9, 1989, 103 Stat. 415.

EFFECTIVE DATE OF 2010 AMENDMENT Amendment by section 369(2) of Pub. L. 111-203 effective on the transfer date, see section 351 of Pub. L. 111-203 set out as a note under section 906 of Title 2, The Congress. Pub. L. 111-203 §604(j), July 21, 2010, 124 Stat. 1604, provided that: "The amendments made by this section [amending this section and sections 1467a, 1828, and 1842 to 1844 of this title and repealing section 1848a of this title] shall take effect on the transfer date."[For definition of "transfer date" as used in section 604(j) of Pub. L. 111-203 set out above, see section 5411 of this title.]

EFFECTIVE DATE OF 1978 AMENDMENT Amendment effective upon expiration of 120 days after Nov. 10, 1978, see section 2101 of Pub. L. 95-630 set out as an Effective Date note under section 375b of this title.

EXECUTIVE DOCUMENTS

TRANSFER OF FUNCTIONSReorg. Plan No. 3 of 1947, set out in the Appendix to Title 5, Government Organization and Employees, abolished Federal Home Loan Bank Board and transferred its functions to Home Loan Bank Board created by the Plan.

Director
The term "Director" means the Director of the Bureau.
State
The term "State" means any State, territory, or possession of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth of the Northern Mariana Islands, Guam, American Samoa, or the United States Virgin Islands or any federally recognized Indian tribe, as defined by the Secretary of the Interior under section 5131(a) of title 25.
affiliate
The term "affiliate" means any person that controls, is controlled by, or is under common control with another person.
person
The term "person" means an individual, partnership, company, corporation, association (incorporated or unincorporated), trust, estate, cooperative organization, or other entity.