Management Interlocks Revision Act of 1988

Summary

Management Interlocks Revision Act of 1988 - Amends the Depository Institution Management Interlocks Act to revise the definition of "affiliated" corporation to mean a corporation which is owned by persons who own more than 25 percent of another corporation. (Present law defines such term as 50 percent ownership.) Revises the definition of "management official" to exclude an advisory or honorary director of a depository institution with total assets of less than $100,000,000. Provides an exception to the prohibitions against dual service of management officials of depository institutions within a primary metropolitan statistical area and against dual service of management officials of a $1,000,000,000 institution or holding company with an unaffiliated $500,000,000 institution or holding company in cases of: (1) failed or failing institutions which are acquired by another depository institution or depository holding company during a specified five-year period; and (2) any diversified savings and loan holding company if the appropriate Federal depository institutions regulatory agencies do not disapprove. Defines the "appropriate depository institutions regulatory agency" for purposes of issuing rules and regulations under such Act to include the Comptroller of the Currency, the Federal Reserve Board, the Federal Deposit Insurance Corporation, the Federal Home Loan Bank Board, and the National Credit Union Administration. Extends for five years the exception from coverage by the Depository Institution Management Interlocks Act of officials in service in a position prior to November 10, 1978. (Such exemption is scheduled to expire under current law on November 10, 1988.)

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 21 June 1988

   Introduced

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

   Source: IntroReferral

2. 21 June 1988

   Introduced

   Introduced in House

   Source: IntroReferral

3. 21 June 1988

   Introduced

   Introduced in House

   Source: IntroReferral

4. 1 July 1988

   Referred

   Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.

   Source: Committee

5. 4 October 1988

   Reported

   Ordered to be Reported.

   Source: Committee

6. 4 October 1988

   Committee

   Committee Consideration and Mark-up Session Held.

   Source: Committee

7. 4 October 1988

   Committee

   Subcommittee on Financial Institutions Supervision, Regulation and Insurance Discharged.

   Source: Committee

8. 6 October 1988

   Introduced

   Received in the Senate.

   Source: IntroReferral

9. 6 October 1988

   Passed

   Passed House by Voice Vote.

   Source: Floor

10. 6 October 1988

    Passed

    Passed/agreed to in House: Passed House by Voice Vote.

    Source: Floor

11. 6 October 1988

    Floor

    Called up by House Under Suspension of Rules.

    Source: Floor

12. 7 October 1988

    Introduced

    Read twice and held at the desk by unanimous consent.

    Source: Floor

13. 22 October 1988

    Passed

    Passed Senate without amendment by Voice Vote.

    Source: Floor

14. 22 October 1988

    Passed

    Passed/agreed to in Senate: Passed Senate without amendment by Voice Vote.

    Source: Floor

15. 7 November 1988

    Floor

    Measure Signed in Senate.

    Source: Floor

16. 10 November 1988

    Became law

    Became Public Law No: 100-650.

    Source: President

17. 10 November 1988

    Became law

    Signed by President.

    Source: BecameLaw

18. 10 November 1988

    President

    Signed by President.

    Source: President

19. 10 November 1988

    Floor

    Presented to President.

    Source: Floor

20. 10 November 1988

    President

    Presented to President.

    Source: President

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

2 official files

• Public Law (PDF)

  Public Law · EN · 11 November 1988

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 21 June 1988

  Open at official source

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Sponsors

• Rep. Parris, Stanford E. (Stan) [R-VA-8] · R · Sponsor
• Rep. Barnard, Doug, Jr. [D-GA-10] · D · Sponsor
• Rep. Dreier, David [R-CA-26] · R · Sponsor
• Rep. Neal, Stephen L. [D-NC-5] · D · Sponsor
• Rep. Price, David E. [D-NC-4] · D · Sponsor
• Rep. Saiki, Patricia [R-HI-1] · R · Sponsor
• Rep. Hubbard, Carroll, Jr. [D-KY-1] · D · Cosponsor
• Rep. McMillen, Thomas [D-MD-4] · D · Cosponsor
• Sen. Lott, Trent [R-MS] · R · Cosponsor
• Rep. Annunzio, Frank [D-IL-11] · D · Cosponsor
• · hsba00 · Standing

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