Section 9. Section 1609(a)(iii) of the act, amended December 18, 1986 (P.L.1702, No.205), is amended to read:
Section 1609. Mergers, Consolidations and Conversions of
Savings Banks
(a) Authority to merge, consolidate or convert--
* * *
(iii) upon compliance with the requirements of this
section and other applicable law,
(A) one or more savings banks, one or more Federal
savings banks and one or more Federal savings and loan
associations may merge into a savings bank, Federal
savings bank or a Federal savings and loan association or
consolidate into a new savings bank, a new Federal
savings bank or a new Federal savings and loan
association, [and]
(B) one or more savings banks may merge or
consolidate with a regional thrift institution, and,
after March 4, 1990, with a foreign thrift institution,
as those terms are defined in and subject to any
applicable limits of section 117[.], and
(C) a business corporation which owns all of the
issued and outstanding shares of a savings bank may merge
into such savings bank.