12 USC § 1462 - Definitions
For purposes of this chapter—
(5)
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.
(7)
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.
(9)
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.
Source
(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, title XII, § 1201,Nov. 10, 1978, 92 Stat. 3710; Pub. L. 97–320, title I, § 114(a),Oct. 15, 1982, 96 Stat. 1475; Pub. L. 101–73, title III, § 301,Aug. 9, 1989, 103 Stat. 277; Pub. L. 111–203, title III, § 369(2), title VI, § 604(h)(1),July 21, 2010, 124 Stat. 1557, 1602.)
Amendment of Section
Pub. L. 111–203, title VI, § 604(h)(1), (j),July 21, 2010, 124 Stat. 1602, 1604, provided that, effective on the transfer date, this section is amended by adding at the end the following: (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)).
See Effective Date of 2010 Amendment note below.
Pub. L. 111–203, title III, §§ 351,
369(2),July 21, 2010, 124 Stat. 1546, 1557, provided that, effective on the transfer date, this section is amended:
(1) by striking out paragraphs (1) and (3);
(2) by redesignating paragraph (2) as (1);
(3) by redesignating paragraphs (4) to (9) as (2) to (7), respectively; and
(4) by adding at the end the following:
(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.
See Effective Date of 2010 Amendment note below.
Amendments
1989—Pub. L. 101–73amended 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. 97–320substituted reference to Federal savings bank or Federal savings banks for reference to Federal mutual savings bank wherever appearing.
1978—Subsec. (d). Pub. L. 95–630included 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”.
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, title VII, § 703(a),Aug. 9, 1989, 103 Stat. 415.
Effective Date of 2010 Amendment
Amendment by section 369(2) ofPub. L. 111–203effective on the transfer date, see section 351 ofPub. L. 111–203, set out as a note under section
906 of Title
2, The Congress.
Pub. L. 111–203, title VI, § 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) ofPub. 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 ofPub. L. 95–630set out as an Effective Date note under section
375b of this title.
Transfer of Functions
Reorg. 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.
The table below lists the classification updates, since Jan. 7, 2011, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Friday, May 13, 2011
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