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Transitional rule for certain savings associations

(A) In general If any Federal savings association in existence as a Federal savings association on August 9, 1989 — (i) that was chartered as a savings bank or a cooperative bank under State law before October 15, 1982 ; or (ii) that acquired its principal assets from an association that was chartered before October 15, 1982 , as a savings bank or a cooperative bank under State law, meets the requirements of subparagraph (B), such savings association shall be treated as a qualified thrift lender during the period ending on September 30, 1995 .

(B) Subparagraph (B) requirements A savings association meets the requirements of this subparagraph if, in the determination of the appropriate Federal banking agency— (i) the actual thrift investment percentage of such association does not, after August 9, 1989 , decrease below the actual thrift investment percentage of such association on July 15, 1989 ; and (ii) the amount by which— (I) the actual thrift investment percentage of such association at the end of each period described in the following table, exceeds (II) the actual thrift investment percentage of such association on July 15, 1989 , is equal to or greater than the applicable percentage (as determined under the following table) of the amount by which 70 percent exceeds the actual thrift investment percentage of such association on August 9, 1989 :

For the following period:	The applicable percentage is:
July 1, 1991 – September 30, 1992	25 percent
October 1, 1992 – March 31, 1994	50 percent
April 1, 1994 – September 30, 1995	75 percent
Thereafter	100 percent

(C) Actual thrift investment percentage For purposes of this paragraph, the actual thrift investment percentage of an association on July 15, 1989 , shall be determined by applying the definition of “actual thrift investment percentage” that takes effect on July 1, 1991 .

in view

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statutes/12/1467a.yaml

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Rules

qualified_thrift_investment_percentage_threshold

Parameter

source: 12 USC 1467a(m)

- name: qualified_thrift_investment_percentage_threshold
  kind: parameter
  dtype: Rate
  source: 12 USC 1467a(m)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1467a
            excerpt: qualified thrift investments equal or exceed 65 percent
  versions:
    - effective_from: '0001-01-01'
      formula: '0.65'

qualified_thrift_monthly_average_required_months

Parameter

source: 12 USC 1467a(m)

- name: qualified_thrift_monthly_average_required_months
  kind: parameter
  dtype: Count
  source: 12 USC 1467a(m)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1467a
            excerpt: on a monthly average basis in 9 out of every 12 months
  versions:
    - effective_from: '0001-01-01'
      formula: '9'

qualified_thrift_lender

Derived

source: 12 USC 1467a(m)

- name: qualified_thrift_lender
  kind: derived
  entity: SavingsAssociation
  dtype: Judgment
  period: Month
  source: 12 USC 1467a(m)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/12/1467a
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1467a
            excerpt: 65 percent
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1467a
            excerpt: 9 out of every 12 months
  versions:
    - effective_from: '0001-01-01'
      formula: |-
        qualifies_as_domestic_building_and_loan_association
        or (
          qualified_thrift_investments_divided_by_portfolio_assets >= qualified_thrift_investment_percentage_threshold
          and months_in_prior_twelve_meeting_monthly_average_requirement >= qualified_thrift_monthly_average_required_months
        )

qualified_stock_issuance_voting_stock_limit

Parameter

source: 12 USC 1467a(q)

- name: qualified_stock_issuance_voting_stock_limit
  kind: parameter
  dtype: Rate
  source: 12 USC 1467a(q)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1467a
            excerpt: not more than 15 percent of the outstanding voting stock
  versions:
    - effective_from: '0001-01-01'
      formula: '0.15'

qualified_stock_issuance

Derived

source: 12 USC 1467a(q)

- name: qualified_stock_issuance
  kind: derived
  entity: SavingsAndLoanHoldingCompany
  dtype: Judgment
  period: Day
  source: 12 USC 1467a(q)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/12/1467a
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1467a
            excerpt: not more than 15 percent
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        issuer_is_undercapitalized_savings_association_or_qualifying_holding_company

        and shares_are_previously_unissued_or_treasury_shares

        and all_shares_purchased_by_registered_savings_and_loan_holding_company

        and board_approved_purchase

        and entire_consideration_paid_in_cash

        and acquiring_company_voting_stock_share_after_issuance <=
        qualified_stock_issuance_voting_stock_limit

        and not more_than_one_issuer_director_represents_acquiring_company

        and transactions_with_acquiring_company_subject_to_section_1468

first_tier_report_penalty_daily_cap

Parameter

source: 12 USC 1467a(r)

- name: first_tier_report_penalty_daily_cap
  kind: parameter
  dtype: Money
  unit: USD
  source: 12 USC 1467a(r)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/12/1467a
            excerpt: not more than $2,000 for each day
  versions:
    - effective_from: '0001-01-01'
      formula: '2000'

second_tier_report_penalty_daily_cap

Parameter

source: 12 USC 1467a(r)

- name: second_tier_report_penalty_daily_cap
  kind: parameter
  dtype: Money
  unit: USD
  source: 12 USC 1467a(r)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/12/1467a
            excerpt: not more than $20,000 for each day
  versions:
    - effective_from: '0001-01-01'
      formula: '20000'

third_tier_report_penalty_fixed_daily_cap

Parameter

source: 12 USC 1467a(r)

- name: third_tier_report_penalty_fixed_daily_cap
  kind: parameter
  dtype: Money
  unit: USD
  source: 12 USC 1467a(r)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/12/1467a
            excerpt: not more than $1,000,000 or 1 percent of total assets
  versions:
    - effective_from: '0001-01-01'
      formula: '1000000'

third_tier_report_penalty_asset_share_cap

Parameter

source: 12 USC 1467a(r)

- name: third_tier_report_penalty_asset_share_cap
  kind: parameter
  dtype: Rate
  source: 12 USC 1467a(r)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1467a
            excerpt: 1 percent of total assets
  versions:
    - effective_from: '0001-01-01'
      formula: '0.01'

report_penalty_daily_cap

Derived

source: 12 USC 1467a(r)

- name: report_penalty_daily_cap
  kind: derived
  entity: SavingsAndLoanHoldingCompany
  dtype: Money
  period: Day
  unit: USD
  source: 12 USC 1467a(r)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/12/1467a
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/12/1467a
            excerpt: $2,000 ... $20,000 ... $1,000,000 or 1 percent
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        if first_tier_report_violation_applies: first_tier_report_penalty_daily_cap else: if
        second_tier_report_violation_applies: second_tier_report_penalty_daily_cap else: if
        third_tier_report_violation_applies: min(third_tier_report_penalty_fixed_daily_cap,
        total_assets * third_tier_report_penalty_asset_share_cap) else: 0

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us/statute/12/1467a/m/7 — Transitional rule for certain savings associations · Axiom

Transitional rule for certain savings associations

Official source

For the following period:	The applicable percentage is:
July 1, 1991 – September 30, 1992	25 percent
October 1, 1992 – March 31, 1994	50 percent
April 1, 1994 – September 30, 1995	75 percent
Thereafter	100 percent

in view

Whole section

▸rulespec code

Shown source

statutes/12/1467a.yaml

Displaying the canonical repository encoding.

This encoding covers the parent provision us/statute/12/1467a; no dedicated encoding exists for this exact provision yet.

View on GitHub

Rules

qualified_thrift_investment_percentage_threshold

Parameter

source: 12 USC 1467a(m)

- name: qualified_thrift_investment_percentage_threshold
  kind: parameter
  dtype: Rate
  source: 12 USC 1467a(m)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1467a
            excerpt: qualified thrift investments equal or exceed 65 percent
  versions:
    - effective_from: '0001-01-01'
      formula: '0.65'

qualified_thrift_monthly_average_required_months

Parameter

source: 12 USC 1467a(m)

- name: qualified_thrift_monthly_average_required_months
  kind: parameter
  dtype: Count
  source: 12 USC 1467a(m)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1467a
            excerpt: on a monthly average basis in 9 out of every 12 months
  versions:
    - effective_from: '0001-01-01'
      formula: '9'

qualified_thrift_lender

Derived

source: 12 USC 1467a(m)

- name: qualified_thrift_lender
  kind: derived
  entity: SavingsAssociation
  dtype: Judgment
  period: Month
  source: 12 USC 1467a(m)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/12/1467a
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1467a
            excerpt: 65 percent
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1467a
            excerpt: 9 out of every 12 months
  versions:
    - effective_from: '0001-01-01'
      formula: |-
        qualifies_as_domestic_building_and_loan_association
        or (
          qualified_thrift_investments_divided_by_portfolio_assets >= qualified_thrift_investment_percentage_threshold
          and months_in_prior_twelve_meeting_monthly_average_requirement >= qualified_thrift_monthly_average_required_months
        )

qualified_stock_issuance_voting_stock_limit

Parameter

source: 12 USC 1467a(q)

- name: qualified_stock_issuance_voting_stock_limit
  kind: parameter
  dtype: Rate
  source: 12 USC 1467a(q)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1467a
            excerpt: not more than 15 percent of the outstanding voting stock
  versions:
    - effective_from: '0001-01-01'
      formula: '0.15'

qualified_stock_issuance

Derived

source: 12 USC 1467a(q)

- name: qualified_stock_issuance
  kind: derived
  entity: SavingsAndLoanHoldingCompany
  dtype: Judgment
  period: Day
  source: 12 USC 1467a(q)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/12/1467a
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1467a
            excerpt: not more than 15 percent
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        issuer_is_undercapitalized_savings_association_or_qualifying_holding_company

        and shares_are_previously_unissued_or_treasury_shares

        and all_shares_purchased_by_registered_savings_and_loan_holding_company

        and board_approved_purchase

        and entire_consideration_paid_in_cash

        and acquiring_company_voting_stock_share_after_issuance <=
        qualified_stock_issuance_voting_stock_limit

        and not more_than_one_issuer_director_represents_acquiring_company

        and transactions_with_acquiring_company_subject_to_section_1468

first_tier_report_penalty_daily_cap

Parameter

source: 12 USC 1467a(r)

- name: first_tier_report_penalty_daily_cap
  kind: parameter
  dtype: Money
  unit: USD
  source: 12 USC 1467a(r)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/12/1467a
            excerpt: not more than $2,000 for each day
  versions:
    - effective_from: '0001-01-01'
      formula: '2000'

second_tier_report_penalty_daily_cap

Parameter

source: 12 USC 1467a(r)

- name: second_tier_report_penalty_daily_cap
  kind: parameter
  dtype: Money
  unit: USD
  source: 12 USC 1467a(r)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/12/1467a
            excerpt: not more than $20,000 for each day
  versions:
    - effective_from: '0001-01-01'
      formula: '20000'

third_tier_report_penalty_fixed_daily_cap

Parameter

source: 12 USC 1467a(r)

- name: third_tier_report_penalty_fixed_daily_cap
  kind: parameter
  dtype: Money
  unit: USD
  source: 12 USC 1467a(r)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/12/1467a
            excerpt: not more than $1,000,000 or 1 percent of total assets
  versions:
    - effective_from: '0001-01-01'
      formula: '1000000'

third_tier_report_penalty_asset_share_cap

Parameter

source: 12 USC 1467a(r)

- name: third_tier_report_penalty_asset_share_cap
  kind: parameter
  dtype: Rate
  source: 12 USC 1467a(r)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1467a
            excerpt: 1 percent of total assets
  versions:
    - effective_from: '0001-01-01'
      formula: '0.01'

report_penalty_daily_cap

Derived

source: 12 USC 1467a(r)

- name: report_penalty_daily_cap
  kind: derived
  entity: SavingsAndLoanHoldingCompany
  dtype: Money
  period: Day
  unit: USD
  source: 12 USC 1467a(r)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/12/1467a
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/12/1467a
            excerpt: $2,000 ... $20,000 ... $1,000,000 or 1 percent
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        if first_tier_report_violation_applies: first_tier_report_penalty_daily_cap else: if
        second_tier_report_violation_applies: second_tier_report_penalty_daily_cap else: if
        third_tier_report_violation_applies: min(third_tier_report_penalty_fixed_daily_cap,
        total_assets * third_tier_report_penalty_asset_share_cap) else: 0