Title 12 — Banks and BankingRelease 119-73not60
§405 Division of Property and Facilities.
Title 12 › Chapter 11— FEDERAL HOME LOAN BANKS › § 405
Summary
Within 60 days after August 9, 1989, four officials must divide all property of FSLIC and the Federal Home Loan Bank Board used for its functions among OTS, RTC, FDIC, and FHFB per the Act’s assignment tables. If they disagree, the OMB Director decides.
Full Legal Text
Title 12, §405
Banks and Banking — Source: USLM XML via OLRC
“Before the end of the 60-day period beginning on the date of the enactment of this Act [Aug. 9, 1989], the Director of the Office of Thrift Supervision, the Chairperson of the Oversight Board of the Resolution Trust Corporation, the Chairperson of the Federal Deposit Insurance Corporation, and the Chairperson of the Federal Housing Finance Board shall jointly divide all property of the Federal Savings and Loan Insurance Corporation and the Federal Home Loan Bank Board used to perform functions and activities of the Federal Home Loan Bank Board among the Office of Thrift Supervision, the Resolution Trust Corporation, the Federal Deposit Insurance Corporation, and the Federal Housing Finance Board in accordance with the division of responsibilities, functions, and activities effected by this Act [see Tables for classification]. Any disagreement between them in so doing shall be resolved by the Director of the Office of Management and Budget.
Reference
Citations & Metadata
Citation
12 U.S.C. § 405
Title 12 — Banks and Banking
Last Updated
Apr 3, 2026
Release point: 119-73not60