such exception shall apply to such bank or financial institution only if the bank or institution meets bonding requirements under State law which the Secretary of Labor determines are at least equivalent to those imposed on banks by Federal law.
5 U.S.C. § 8478
EDITORIAL NOTES
AMENDMENTS1992-Subsec. (a)(2)(B)(iii). Pub. L. 102-378 struck out "Corporation or the Federal Savings and Loan Insurance" before "Corporation".1986-Subsec. (a)(1). Pub. L. 99-556, §108, struck out "(other than a member of the Employee Thrift Advisory Council with respect to his duties as a member)" after "each fiduciary".Subsec. (c)(2). Pub. L. 99-556, §115, substituted "sections 9304 through 9308 of title 31" for "sections 6 through 13 of title 6".
STATUTORY NOTES AND RELATED SUBSIDIARIES
INTERIM BONDING REGULATIONS Pub. L. 99-556, title I, §113, Oct. 27, 1986, 100 Stat. 3133, provided that:"(a) IN GENERAL.-Subject to subsection (b), until such time as the Secretary of Labor promulgates final regulations under section 8478 of title 5, United States Code, the Secretary of Labor may, with respect to the Thrift Savings Fund, apply the temporary regulations under section 412 of the Employee Retirement Income Security Act of 1974 [29 U.S.C. 1112] that are set forth in section 2550.412-1, and subchapter I of chapter XXV, of title 29 of the Code of Federal Regulations, as in effect on September 23, 1986. "(b) TERMINATION OF INTERIM AUTHORITY.-The authority to apply the temporary regulations referred to in subsection (a) with respect to the Thrift Savings Fund shall expire not later than December 31, 1989."
- Member
- The term "Member" means a Senator in, a Representative in, or a Delegate or Resident Commissioner to, the Congress.