PUBLIC LAW 95-630—NOV. 10, 1978 credit union in the form of individual retirement accounts as described in section 408(a) of the Internal Revenue Code of 1954, as amended, shall be insured in the amount of $100,000 per account. As to any plan qualifying under section 401(d) or section 408(a) of the Internal Revenue Code of 1954, the term 'per account' means the present vested and ascertainable interest of each beneficiary under the plan, excluding any remainder interest created by, or as a result of, the plan.". SEC. 1402. This title shall take effect upon enactment. TITLE XV—MISCELLANEOUS PROVISIONS
92 STAT. 3713
"Per account.' 26 USC 401, 408. Effective date. 12 USC 1728 note.
SEC. 1501. Paragraph (2) of section 3(c) of Public Law 94-222 (15 U.S.C. 1666f note) is amended to read as follows: "(2) The amendment made by paragraph (1) shall cease to be effective on February 27, 1981.". SEC. 1502. Section 803 of Public Law 95-128 (12 U.S.C. 2902) is amended by adding at the end thereof the following new subsection: "(4) A financial institution whose business predominately con- "Entire sists of serving the needs of military personnel who are not located community within a defined geographic area may define its 'entire community' to include its entire deposit customer base without regard to geographic proximity.". SEC. 1503. The last sentence of section 245 of the National Housing 12 USC Act is amended by inserting immediately before "limiting the amount 1715Z-10. of interest" " (1) " and by inserting immediately before the period at the end thereof the following: ", or (2) requiring a minimum amortization of principle or otherwise relating to the amortization of principle under the mortgage or loan". SEC. 1504. Section 5169 of the Revised Statutes (12 U.S.C. 27) is amended by adding at the end thereof the following new sentence: "A National Bank xAssociation, to which the Comptroller of the Currency has heretofore issued or hereafter issues such certificate, is not illegally constituted solely because its operations are or have been required by the Comptroller of the Currency to be limited to those of a trust company and activities related thereto." Effective date. SEC. 1505. This title shall take effect upon enactment. 12 USC 27 note.
TITLE XVI—INTEREST RATE CONTROL SEC. 1601. Section 7 of the Act of September 21, 1966 (Public Law 89-597) is amended by striking out "December 15, 1978" and inserting in lieu thereof "December 15, 1980". SEC. 1602. Section 102 of Public Law 94-200 (12 U.S.C. 461 note) is amended by adding at the end thereof the following new subsection: "(c) In any State where any provision of State or Federal law authorizes any savings and loan, building and loan, or homestead association (including any cooperative bank) the deposits or accounts of which are insured by the Federal Savings and Loan Insurance Corporation or any mutual savings bank, as defined in section 3(f) of the Federal Deposit Insurance Act (12 U.S.C. 1813(f)), to offer any third-party payment account, there shall be no differential in the maximum interest rate payable tjetween (1) banks (other than savings banks) the deposits of which are insured by the Federal Deposit Insurance Corporation, and (2) savings and loan, building and loan, or homestead associations (including cooperative banks) the deposits or accounts of which are insured by the Federal Savings and Loan Insur-
12 USC 461 note.
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