The provisions of this chapter limiting the insurance of the deposits of any depositor to a maximum less than the full amount shall be independent and separable from each and all of the provisions of this chapter.
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Source location: Title 12, Chapter 16, § 1831; chapter-016-federal-deposit-insurance-corporation.md
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The provisions of this chapter limiting the insurance of the deposits of any depositor to a maximum less than the full amount shall be independent and separable from each and all of the provisions of this chapter.
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Federal law — U.S. Code and appendices · legal_authorities
§ 1831. Separability of certain provisions of this
chapter
The provisions of this chapter limiting the in-
surance of the deposits of any depositor to a
maximum less than the full amount shall be
independent and separable from each and all of
the provisions of this chapter.
(Sept. 21, 1950, ch. 967, § 2[23], formerly § 2[21], 64
Stat. 894; renumbered § 2[22], Pub. L. 90–203, § 3,
Dec. 15, 1967, 81 Stat. 610; renumbered § 2[23],
Pub. L. 91–508, title I, § 101, Oct. 26, 1970, 84 Stat.
1114.)
Editorial Notes
PRIOR PROVISIONS
Section is derived from subsec. (z) of former section
264 of this title. See Codification note set out under
section 1811 of this title.
§ 1831a. Activities of insured State banks
(a) Permissible activities
(1) In general
After the end of the 1-year period beginning
on December 19, 1991, an insured State bank
may not engage as principal in any type of ac-
tivity that is not permissible for a national
bank unless—
(A) the Corporation has determined that
the activity would pose no significant risk
to the Deposit Insurance Fund; and
(B) the State bank is, and continues to be,
in compliance with applicable capital stand-
ards prescribed by the appropriate Federal
banking agency.
(2) Processing period
(A) In general
The Corporation shall make a determina-
tion under paragraph (1)(A) not later than 60
days after receipt of a completed application
that may be required under this subsection.
(B) Extension of time period
The Corporation may extend the 60-day pe-
riod referred to in subparagraph (A) for not
more than 30 additional days, and shall no-
tify the applicant of any such extension.
(b) Insurance underwriting
(1) In general
Notwithstanding subsection (a), an insured
State bank may not engage in insurance un-
derwri