§3207. Rules and regulations

Regulations to carry out this chapter, including regulations that permit service by a management 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 substantial lessening of competition, may be prescribed by-

(1) the Comptroller of the Currency with respect to national banks and banks located in the District of Columbia,

(2) the Board of Governors of the Federal Reserve System with respect to State banks which are members of the Federal Reserve System, and bank holding companies,

(3) the Board of Directors of the Federal Deposit 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 Insurance Corporation,

(4) the Director of the Office of Thrift Supervision with respect to institutions the accounts of which are insured by the Federal Deposit Insurance Corporation, and savings and loan holding companies, and

(5) the National Credit Union Administration 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 .)

Amendments

1996-Pub. L. 104–208 redesignated subsec. (a) as entire section, in introductory provisions, substituted "Regulations" for "Rules and regulations" and inserted ", including regulations that permit service by a management 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 substantial lessening of competition," after "chapter", in par. (4), substituted "Director of the Office of Thrift Supervision" 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 official 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 management 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 introductory provisions, and added subsecs. (b) and (c).

Section Referred to in Other Sections

This section is referred to in section 3201 of this title.