105 STAT. 2348
PUBLIC LAW 102-242—DEC. 19, 1991
"(C) AMENDING SCHEDULE.— The Corporation may, by
regulation, amend a schedule promulgated under subparagraph (B), but such amendments may not extend the date
specified in subparagraph (B).
"(D) APPLICATION TO SAIF MEMBERS. —This paragraph
shall become applicable to Savings Association Insurance
Fund members on January 1, 1998.
"(4) SEMIANNUAL PERIOD DEFINED. —For purposes of this section, the term 'semiannual period' means a period beginning on
January 1 of any calendar year and ending on June 30 of the
same year, or a period beginning on July 1 of any calendar year
and ending on December 31 of the same year.
"(5) RECORDS TO BE MAINTAINED.—Each insured depository
institution shall maintain all records that the Corporation may
require for verifying the correctness of the institution's semiannual assessments. No insured depository institution shall be
required to retain those records for that purpose for a period of
more than 5 years from the date of the filing of any certified
statement, except that when there is a dispute between the
insured depository institution and the Corporation over the
amount of any assessment, the depository institution shall
retain the records until final determination of the issue.",
(b) CERTIFIED STATEMENTS AND PAYMENT PROCEDURES. — Section
7(c) of the Federal Deposit Insurance Act (12 U.S.C. 1817(c)) is
amended to read as follows:
"(c) CERTIFIED STATEMENTS; PAYMENTS. —
"(1) CERTIFIED STATEMENTS REQUIRED. —
"(A) IN GENERAL.—Each insured depository institution
shall file with the Corporation a certified statement
containing such information as the Corporation may require for determining the institution's semiannual
assessment.
"(B) FORM OF CERTIFICATION. —The certified statement
required under subparagraph (A) shall—
"(i) be in such form and set forth such supporting
information as the Board of Directors shall prescribe;
and
"(ii) be certified by the president of the depository
institution or any other officer designated by its board
of directors or trustees that to the best of his or her
knowledge and belief, the statement is true, correct and
complete, and in accordance with this Act and regulations issued hereunder.
"(2) PAYMENTS REQUIRED.—
"(A) IN GENERAL.—Each insured depository institution
shall pay to the Corporation the semiannual assessment
imposed under subsection (b).
"(B) FORM OF PAYMENT. —The payments required under
subparagraph (A) shall be made in such manner and at
such time or times as the Board of Directors shall prescribe
by regulation.
"(3) NEWLY INSURED INSTITUTIONS. —To facilitate the administration of this section, the Board of Directors may waive the
requirements of paragraphs (1) and (2) for the semiannual
period in which a depository institution becomes insured.".
12 USC 1817
(c) REGULATIONS. — To implement the risk-based assessment
"°*®-
system required under section 7(b) of the Federal Deposit Insurance
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