Page:United States Statutes at Large Volume 103 Part 1.djvu/216

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103 STAT. 188 PUBLIC LAW 101-73—AUG. 9, 1989 sections 3(h), 11(h), ll(i), 13(c)(l)(B), 13(f), and 18(d) of the Fed- eral Deposit Insurance Act. (b) AMENDMENTS TO REFERENCES TO FEDERAL HOME LOAN BANK BOARD.—The Federal Deposit Insurance Act (12 U.S.C. 1811 et seq.) is amended by striking out "Federal Home Loan Bank Board" each place such term appears and inserting in lieu thereof "Director of the Office of Thrift Supervision". SEC. 202. DUTIES OF FEDERAL DEPOSIT INSURANCE CORPORATION. Section 1 of the Federal Deposit Insurance Act (12 U.S.C. 1811) is amended by inserting "and savings associations" after "banks". SEC. 203. FDIC BOARD MEMBERS. 12 USC 1812. (a) IN GENERAL.—Section 2 of the Federal Deposit Insurance Act is amended to read as follows: "SEC. 2. MANAGEMENT. "(a) BOARD OF DIRECTORS.— "(1) IN GENERAL.—The management of the Corporation shall be vested in a Board of Directors consisting of 5 members— "(A) 1 of whom shall be the (Comptroller of the Currency; "(B) 1 of whom shall be the Director of the Office of Thrift Supervision; and (C) 3 of whom shall be appointed by the President, by and with the advice and consent of the Senate, from among individuals who are citizens of the United States. "(2) POLITICAL AFFIUATION. —After February 28, 1993, not more than 3 of the members of the Board of Directors may be members of the same political party. "(b) (CHAIRPERSON AND VICE CHAIRPERSON.— " (1) CHAIRPERSON. —1 of the appointed members shall be des- ignated by the President, by and with the advice and consent of the Senate, to serve as (Chairperson of the Board of Directors for a term of 5 years. "(2) VICE CHAIRPERSON.— 1 of the appointed members shall be designated by the President, by and with the advice and consent of the Senate, to serve as vice Chairperson of the Board of Directors. "(3) ACTING CHAIRPERSON.—In the event of a vacancy in the position of Chairperson of the Board of Directors or during the absence or disability of the Chairperson, the Vice (Chairperson shall act as Chairperson. "(c) TERMS.— "(1) APPOINTED MEMBERS. —Each appointed member shall be appointed for a term of 6 years. "(2) INTERIM APPOINTMENTS. —Any member appointed to fill a vacancy occurring before the expiration of the term for which such member's predecessor was appointed shall be appointed only for the remainder of such term. "(3) CONTINUATION OF SERVICE.— The (Chairperson, Vice (Chair- person, and each appointed member may continue to serve after the expiration of the term of office to which such member was ^ appointed until a successor has been appointed and qualified. "(d) VACANCY. — "(1) IN GENERAL.—Any vacancy on the Board of Directors shall be filled in the manner in which the original appointment was made.