Page:United States Statutes at Large Volume 108 Part 3.djvu/599

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PUBLIC LAW 103-328—SEPT. 29, 1994 i08 STAT. 2351 i "(B) RETENTION OF BRANCHES.— In the case of a State nonmember bank which relocates the main office of such bank from 1 State to another State after May 31, 1997, the bank may retain and operate branches within the State which was the bank's home State (as defined in section f 44(f)(4)) before the relocation of such office only to the extent the bank would be authorized, under this section or any other provision of law referred to in subparagraph (A), to acquire, establish, or commence to operate a branch in such State if— "(i) the bank had no branches in such State; or "(ii) the branch resulted from— "(I) an interstate merger transaction approved pursuant to section 44; or "(II) a transaction after May 31, 1997, pursuant to which the bank received assistance from the Corporation under section 13(c).". (B) ACTIVITIES OF BRANCHES OF STATE BANKS RESULT- ING FROM INTERSTATE MERGER TRANSACTIONS. — Section 24 of the Federal Deposit Insurance Act (12 U.S.C. 1831a) is amended by adding at the end the following new subsection: "(j) ACTIVITIES OF BRANCHES OF OUT-OF-STATE BANKS.— "(1) IN GENERAL. —The laws of a host State, including laws regarding community reinvestment, consumer protection, fair lending, and establishment of intrastate branches, shall apply to any branch in the host State of an out-of-State State bank to the same extent as such State laws apply to a branch of a bank chartered by that State. "(2) ACTIVITIES OF BRANCHES.An insured State bank that establishes a branch in a host State may not conduct any activity at such branch that is not permissible for a bank chartered by the host State. "(3) DEFINITIONS. — The terms 'host State', 'interstate merger transaction', and 'out-of-State bank' have the same meanings as in section 44(f).". (4) ACT OF NOVEMBER i, I9i8.— The Act entitled "An Act to provide for the consolidation of the national banking associations." and approved November 7, 1918 (12 U.S.C. 215 et seq.) is amended— (A) by redesignating section 2 as section 3; 12 USC 2l5a. (B) by redesignating section 3 as section 5; l2 USC 2l5b. (C) in the 1st section, by striking "That (a) any national 12 USC 215 note, banking association" and inserting the following: "SECTION 1. SHORT TITLE. National Bank "This Act may be cited as the 'National Bank Consolidation andMerger°Act. and Merger Act'. "SEC. 2. CONSOUDATION OF BANKS WITHIN THE SAME STATE. 12 USC 215. " (a) IN GENERAL.— Any national bank"; and (D) by inserting after section 3 (as so redesignated under subparagraph (A) of this paragraph) the following new section: "SEC. 4. INTERSTATE CONSOLIDATIONS AND MERGERS. 12 USC 215a-l. "(a) IN GENERAL.— ^A national bank may engage in a consolidation or merger under this Act with an out-of-State bank if the