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United States · Bill · HR

H.R. 3306 (96th)

Savings and Loan Associations Investments Act

referredUnited States· United States Congress· EN

Introduced

28 March 1979

Last action

—

Status

Referred to House Committee on Banking, Finance and Urban Affairs.

Sponsors

—

Subjects

Discovery layer

Source updated

2 September 2025

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Summary

Savings and Loan Associations Investments Act - Amends the Home Owners' Loan Act of 1933 to permit Federal savings and loan associations to issue and sell mutual capital certificates directly to subscribers or through underwriters. Stipulates that such certificates shall constitute part of the general reserve and net worth of the association. Directs the Federal Home Loan Bank Board to issue rules and regulations authorizing the sale of such certificates. Specifies that losses shall be charged against such certificates only after other reserve and net worth accounts have been exhausted. Requires the approval of the Federal Savings and Loan Insurance Corporation before payment of interest shall be made on such mutual capital certificates and debentures in the event an insured institution fails to maintain the required reserves.

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1 official file

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