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(B) a check or other demand item which is accompanied by special instructions, such as a request for special advise of payment or dishonor; or (C) any similar item which is otherwise classified as a noncash item in regulations of the Board. (15)

NONLOCAL ORIGINATING DEPOSITORY INSTITUTION.—The

A.

term "nonlocal originating depository institution" means any originating depository institution which is not a local depository institution. (16) PROPRIETARY ATM.—The term "proprietary ATM" means an automated teller machine which is— (A) located— (i) at or adjacent to a branch of the receiving depository institution; or (ii) in close proximity, as defined by the Board, to a branch of the receiving depository institution; or (B) owned by, operated exclusively for, or operated by the receiving depository institution. (17) ORIGINATING DEPOSITORY INSTITUTION.—The term "originating depository institution" means the branch of a depository institution on which a check is drawn. (18) NONPROPRIETARY ATM,—The term "nonproprietary ATM" means an automated teller machine which is not a proprietary ATM. (19) PARTICIPANT.—The term "participant" means a depository institution which— (A) is located in the same geographic area as that served by a check clearinghouse association; and ,,, (B) exchanges checks through the check clearinghouse association, either directly or through an intermediary. (20) RECEIVING DEPOSITORY INSTITUTION.—The term "receiving depository institution" means the branch of a depository institution or the proprietary ATM in which a check is first deposited. (21) STATE.—The term "State" means any State, the District of Columbia, the Commonwealth of Puerto Rico, or the Virgin Islands. (22) TELLER'S CHECK.—The term "teller's check" means any check issued by a depository institution and drawn on another depository institution. (23) UNITED STATES.—The term "United States" means the several States, the District of Columbia, the Commonwealth of Puerto Rico, and the Virgin Islands. (24) U N I T OF GENERAL LOCAL GOVERNMENT.—The term "unit of general local government" means any city, county, town, township, parish, village, or other general purpose political subdivision of a State. (25) WIRE TRANSFER.—The term "wire transfer" has such meaning as the Board shall prescribe by regulations. SEC. 603. EXPEDITED FUNDS AVAILABILITY SCHEDULES. (a) NEXT BUSINESS DAY AVAILABILITY FOR CERTAIN DEPOSITS.— (1) CASH DEPOSITS; WIRE TRANSFERS.—Except as provided in

subsection (e) and in section 604, in any case in which— (A) any cash is deposited in an account at a receiving depository institution staffed by individuals employed by such institution, or

12 USC 4002.

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 101 STAT. 638

PUBLIC LAW 100-86—AUG. 10, 1987 (B) funds are received by a depository institution by wire transfer for deposit in an account at such institution, such cash or funds shall be available for withdrawal not later than the business day after the business day on which such cash is deposited or such funds are received for deposit.

State and local

governments.

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(2) GOVERNMENT CHECKS; CERTAIN OTHER CHECKS.—Fuuds

deposited in an account at a depository institution by check shall be available for withdrawal not later than the business day after the business day on which such funds are deposited in the case of— (A) a check which— (i) is drawn on the Treasury of the United States; and ^v, (ii) is endorsed only by the person to whom it was " ' ^ issued; .., (B) a check which— (i) is drawn by a State; (ii) is deposited in a receiving depository institution which is located in such State and is staffed by individuals employed by such institution; (iii) is deposited with a special deposit slip which indicates it is a check drawn by a State; and (iv) is endorsed only by the person to whom it was issued; (C) a check which— (i) is drawn by a unit of general local government; i^ \|i;'. ^1^ -g deposited in a receiving depository institution which is located in the same State as such unit of general local government and is staffed by individuals employed by such institution; ~' (iii) is deposited with a special deposit slip which indicates it is a check drawn by a unit of general local government; and (iv) is endorsed only by the person to whom it was issued; (D) the first $100 deposited by check or checks on any one •business day; (E) a check deposited in a branch of a depository institution and drawn on the same or another branch of the same depository institution if both such branches are located in the same State or the same check processing region; '- '•' (F) a cashier's check, certified check, teller's check, or depository check which— (i) is deposited in a receiving depository institution which is staffed by individuals employed by such institution; (ii) is deposited with a special deposit slip which indicates it is a CEishier's check, certified check, teller's -. * check, or depository check, as the case may be; and (iii) is endorsed only by the person to whom it was issued. (b) PERMANENT SCHEDULE.—

(1) AVAILABILITY OF FUNDS DEPOSITED BY LOCAL CHECKS.—Subject to paragraph (3) of this subsection, subsections (a)(2), (d), and (e) of this section, and section 604, not more than 1 business day shall intervene between the business day on which funds are deposited in an account at a depository institution by a check drawn on a local originating depository institution and

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the business day on which the funds involved are available for withdrawal. (2) AVAILABILITY OF FUNDS DEPOSITED BY NONLOCAL CHECKS.—

Subject to paragraph (3) of this subsection, subsections (a)(2), (d), and (e) of this section, and section 604, not more than 4 business days shall intervene between the business day on which funds are deposited in an account at a depository institution by a check drawn on a nonlocal originating depository institution and the business day on which such funds are available for withdrawal. (3) TIME PERIOD ADJUSTMENTS FOR CASH WITHDRAWAL OF CERTAIN CHECKS.—

(A) IN GENERAL.—Except as provided in subparagraph (B), funds deposited in an account in a depository institution by check (other than a check described in subsection (a)(2)) shall be available for cash withdrawal not later than the business day after the business day on which such funds otherwise are available under paragraph (1) or (2). (B) 5 P.M. CASH AVAILABILITY.—Not more than $400 (or the maximum amount allowable in the case of a withdrawal from an automated teller machine but not more than $400) of funds deposited by one or more checks to which this paragraph applies shall be available for cash withdrawal not later than 5 o'clock post meridian of the business day on which such funds are available under paragraph (1) or (2). If funds deposited by checks described in both paragraph (1) and paragraph (2) become available for cash withdrawal under this paragraph on the same business day, the limitation contained in this subparagraph shall apply to the aggregate amount of such funds. (C) $100 AVAILABILITY.—Any amount available for withdrawal under this paragraph shall be in addition to the amount available under subsection (a)(2)(D). (4) APPLICABILITY.—This subsection shall apply with respect to funds deposited by check in an account at a depository institution on or after September 1, 1990, except that the Board may, by regulation, make this subsection or any part of this subsection applicable earlier than September 1, 1990. (c) TEMPORARY SCHEDULE.— (1) AVAILABILITY OF LOCAL CHECKS.—

(A) IN GENERAL.—Subject to subparagraph (B) of this paragraph, subsections (a)(2), (d), and (e) of this section, and section 604, not more than 2 business days shall intervene between the business day on which funds are deposited in an account at a depository institution by a check drawn on a local originating depository institution and the business day on which such funds are available for withdrawal. (B) TIME PERIOD ADJUSTMENT FOR CASH WITHDRAWAL OF CERTAIN CHECKS.—

(i) IN GENERAL.—Except as provided in clause (ii), funds deposited in an account in a depository institution by check drawn on a local depository institution that is not a participant in the same check clearinghouse association as the receiving depository institution (other than a check described in subsection (a)(2)) shall be available for cash withdrawal not later than

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 101 STAT. 640

PUBLIC LAW 100-86—AUG. 10, 1987 the business day after the business day on which such funds otherwise are available under subparagraph (A), (ii) 5 P.M. CASH AVAILABILITY.—Not more than $400 (or the maximum amount allowable in the case of a withdrawal from an automated teller machine but not more than $400) of funds deposited by one or more -' checks to which this subparagraph applies shall be available for cash withdrawal not later than 5 o'clock post meridian of the business day on which such funds are available under subparagraph (A). (iii) $100 AVAILABILITY.—Any amount available for withdrawal under this subparagraph shall be in addif: tion to the amount available under subsection (a)(2)(D). (2) AVAILABILITY OF NONLOCAL CHECKS.—Subject to subsections (a)(2), (d), and (e) of this section and section 604, not more than 6 business days shall intervene between the business day on which funds are deposited in an account at a depository institution by a check drawn on a nonlocal originating depository institution and the business day on which such funds are available for withdrawal. (3) APPLICABILTTY.—This subsection shall apply with respect to funds deposited by check in an account at a depository institution after August 31, 1988, and before September 1, 1990, except as may be otherwise provided under subsection (b)(4).

Regulations.

(d) TIME PERIOD ADJUSTMENTS.— (1) REDUCTION GENERALLY.—Notwithstanding any other provi-

sion of law, the Board shall, by regulation, reduce the time periods established under subsections (b), (c), and (e) to as short a time as possible and equal to the period of time achievable under the improved check clearing system for a receiving depository institution to reasonably expect to learn of the nonpa3mient of most items for each category of checks. (2)

Alaska. Hawaii. Puerto Rico. Virgin Islands.

EXTENSION FOR CERTAIN DEPOSITS IN NONCONTIGUOUS

STATES OR TERRITORIES.—Notwithstanding any other provision of law, any time period established under subsection (b), (c), or (e) shall be extended by 1 business day in the case of any deposit which is both— (A) deposited in an account at a depository institution which is located in Alaska, Hawaii, Puerto Rico, or the Virgin Islands; and (B) deposited by a check drawn on an originating depository institution which is not located in the same State, commonwealth, or territory as the receiving depository institution. (e) DEPOSITS AT AN ATM.— (1) NONPROPRIETARY ATM—TEMPORARY SCHEDULE.—

(A) IN GENERAL.—Not more than 6 business days shall intervene between the business day a deposit described in subparagraph (B) is made at a nonproprietary automated teller machine (for deposit in an account at a depository institution) and the business day on which funds from such deposit are available for withdrawal. (B) DEPOSITS DESCRIBED IN THIS PARAGRAPH.—A deposit is described in this subparagraph if it is— (i) a cash deposit; (ii) a deposit made by a check described in subsection (a)(2);

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101 STAT. 641

(iii) a deposit made by a check drawn on a local originating depository institution (other than a check described in subsection (a)(2)); or (iv) a deposit made by a check drawn on a nonlocal originating depository institution (other than a check described in subsection (a)(2)). (C) APPLICABILITY.—This paragraph shall apply with respect to funds deposited at a nonproprietary automated teller machine after August 31, 1988, and before September 1, 1990.

T (2) NONPROPRIETARY ATM—PERMANENT SCHEDULE.— (A) CASH, GOVERNMENT CHECKS, AND LOCAL CHECKS.—Not

more than 1 business day shall intervene between the business day on which a deposit described in paragraph (1)(B)(i), (ii), or (iii) is made at a nonproprietary automated teller machine (for deposit in an account at a depository institution) and the business day on which funds from such deposit are available for withdrawal. (B) NONLOCAL CHECKS.—Not more than 4 business days shall intervene between the business day a deposit described in paragraph (l)(B)(iv) is made at a nonproprietary automated teller machine (for deposit in an account at a depository institution) and the business day on which funds from such deposit are available for withdrawal. (C) DETERMINATION OF "LOCAL ORIGINATING DEPOSITORY

1

INSTITUTION".—For the purpose of this paragraph, a check is drawn on a local originating depository institution if that depository institution is located in the same check processing region as the receiving nonproprietary ATM. (D) APPLICABILITY.—This paragraph shall apply with respect to funds deposited at a nonproprietary automated teller machine on or after September 1, 1990. (3) PROPRIETARY ATM—TEMPORARY AND PERMANENT SCHED-

ULES.—The provisions of subsections (a), (b), and (c) shall apply with respect to any funds deposited at a proprietary automated teller machine for deposit in an account at a depository institution. (4) STUDY AND REPORT ON ATM'S.—The Board shall, either directly or through the Consumer Advisory Council, establish and maintain a dialogue with depository institutions and their suppliers on the computer software and hardware available for use by automated teller machines, and shall, not later than September 1 of each of the first 3 calendar years beginning after the date of the enactment of this title, report to the Congress regarding such software and hardware and regarding the potential for improving the processing of automated teller machine deposits. (f) CHECK RETURN; NOTICE OF NONPAYMENT.—No provision of this section shall be construed as requiring that, with respect to all checks deposited in a receiving depository institution— (1) such checks be physically returned to such depository institution; or (2) any notice of nonpayment of any such check be given to J such depository institution within the times set forth in subsection (a), (b), (c), or (e) or in the regulations issued under any such subsection.

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 101 STAT. 642 12 USC 4003.

PUBLIC LAW 100-86—AUG. 10, 1987

SEC. 604. SAFEGUARD EXCEPTIONS.

(a) NEW ACCOUNTS.—Notwithstanding section 603, in the case of any account established at a depository institution by a new depositor, the following provisions shall apply with respect to any deposit in such account during the 30-day period (or such shorter period as the Board may establish) beginning on the date such account is established— (1) NEXT BUSINESS DAY AVAILABILITY OF CASH AND CERTAIN

ITEMS.—Except as provided in paragraph (3), in the case of— (A) any cash deposited in such account; (B) any funds received by such depository institution by ' wire transfer for deposit in such account; ' (C) any funds deposited in such account by cashier's check, certified check, teller's check, depository check, or traveler's check; and (D) any funds deposited by a government check which is described in subparagraph (A), (B), or (C) of section 603(a)(2), such cash or funds shall be available for withdrawal on the business day after the business day on which such cash or funds are deposited or, in the case of a wire transfer, on the business day after the business day on which such funds are received for deposit. (2) AVAILABILITY OF OTHER ITEMS.—In the case of any funds deposited in such account by a check (other than a check described in subparagraph (C) or (D) of paragraph (1)), the availability for withdrawal of such funds shall not be subject to the provisions of section 6030>), 603(c), or paragraphs (1) and (2) of section 603(e). (3) LIMITATION RELATING TO CERTAIN CHECKS IN EXCESS OF

' $5,000.—In the case of funds deposited in such account during such period by checks described in subparagraph (C) or (D) of paragraph (1) the aggregate amount of which exceeds $5,000— (A) paragraph (1) shall apply only with respect to the first $5,000 of such aggregate amount; and (B) not more than 8 business days shall intervene be- tween the business day on which any such funds are deposited and the business day on which such excess amount shall be available for withdrawal. (b) LARGE OR REDEPOSITED CHECKS; REPEATED OVERDRAFTS.—The

Board may, by regulation, establish reasonable exceptions to any time limitation established under subsection (b), (c), or (e) of section 603 for— (1) the amount of deposits by one or more checks that exceeds the amount of $5,000 in any one day; (2) checks that have been returned unpaid and redeposited; and (3) deposit accounts which have been overdrawn repeatedly. (c) REASONABLE CAUSE EXCEPTION.—

(1) IN GENERAL.—In accordance with regulations which the Board shall prescribe, subsections (a)(2)(F), (b), (c), and (e) of section 603 shall not apply with respect to any check deposited in an account at a depository institution if the receiving depository institution has reasonable cause to believe that the check is uncollectible from the originating depository institution. For purposes of the preceding sentence, reasonable cause to believe requires the existence of facts which would cause a well-

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grounded belief in the mind of a reasonable person. Such reasons shall be included in the notice required under subsection (f). (2) BASIS FOR DETERMINATION.—No determination under this subsection may be based on any class of checks or persons. r (3) OVERDRAFT FEES.—If the receiving depository institution determines that a check deposited in an account is a check « described in paragraph (1), the receiving depository institution shall not assess any fee for any subsequent overdraft with 3 respect to such account, if— (A) the depositor was not provided with the written notice fc required under subsection (f) (with respect to such deteri mination) at the time the deposit was made; (B) the overdraft would not have occurred but for the fact (C) the amount of the check is collected from the originat^ing depository institution. (4) COMPLIANCE.—Each agency referred to in section 610(a) shall monitor compliance with the requirements of this subsection in each regular examination of a depository institution and shall describe in each report to the Congress the extent to which this subsection is being complied with. For the purpose of this paragraph, each depository institution shall retain a record of each notice provided under subsection (f) as a result of the application of this subsection. (d) EMERGENCY CONDITIONS.—Subject to such regulations as the Board may prescribe, subsections (b), (c), and (e) of section 603 shall not apply to funds deposited by check in any receiving depository institution in the case of^ (1) any interruption of communication facilities; (2) suspension of payments by another depository institution; (3) any war; or (4) any emergency condition beyond the control of the receiving depository institution, if the receiving depository institution exercises such diligence as the circumstances require. (e) PREVENTION OF FRAUD LOSSES.—
 * that the funds so deposited are not available; and
 * that the funds so deposited are not available; and

(1) IN GENERAL.—The Board may, by regulation or order, suspend the applicability of this title, or any portion thereof, to any classification of checks if the Board determines that— (A) depository institutions are experiencing an unacceptable level of losses due to check-related fraud, and (B) suspension of this title, or such portion of this title, with regard to the classification of checks involved in such fraud is necessary to diminish the volume of such fraud. (2) SUNSET PROVISION.—No regulation prescribed or order issued under paragraph (1) shall remain in effect for more than 45 days (excluding Saturdays, Sundays, legal holidays, or any day either House of Congress is not in session). (3) REPORT TO CONGRESS.— (A) NOTICE OF EACH SUSPENSION.—Within

10 days of prescribing any regulation or issuing any order under paragraph (1), the Board shall transmit a report of such action to the Committee on Banking, Finance and Urban Affairs of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate.

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PUBLIC LAW 100-86—AUG. 10, 1987

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(B) CONTENTS OF REPORT.—Each report under subparagraph (A) shall contain— (i) the specific reason for prescribing the regulation '• or issuing the order; (, (ii) evidence considered by the Board in making the determination under paragraph (1) with respect to such regrulation or order; and (iii) specific examples of the check-related fraud giving rise to such regulation or order.

(f) NOTICE OF EXCEPTION; AVAILABILITY WITHIN REASONABLE TIME.—

(1) IN GENERAL.—If any exception contained in this section (other than subsection (a)) applies with respect to funds deposj^.,. ited in an account a t a depository institution— (A) the depository institution shall provide notice in the t.^^a-^ manner provided in paragraph (2) of— (i) the day the funds shall be made available for . /» withdrawal; and (ii) the reason the exception was invoked; and (B) except where other time periods are specifically provided in this title, the availability of the funds deposited shall be governed by the policy of the receiving depository institution, but shall not exceed a reasonable period of time ^^ ^4 as determined by the Board. (2) TIME FOR NOTICE.—The notice required under paragraph ,fj (1)(A) with respect to a deposit to which an exception contained in this section applies shall be made by the time provided in the following subparagraphs: (A) In the case of a deposit made in person by the depositor at the receiving depository institution, the deposij,, tory institution shall immediately provide such notice in writing to the depositor. (B) In the case of any other deposit (other than a deposit described in subparagraph (O), the receiving depository institution shall mail the notice to the depositor not later than the close of the next business day following the business day on which the deposit is received. (C) In the case of a deposit to which subsection (d) or (e) I *^'applies, notice shall be provided by the depository institu^' tion in accordance with regulations of the Board. (3) SUBSEQUENT DETERMINATIONS.—If the facts upon which the determination of the applicability of an exception contained in subsection (b) or (c) to any deposit only become known to the •^- receiving depository institution after the time notice is required under paragraph (2) with respect to such deposit, the depository institution shall mail such notice to the depositor as soon as practicable, but not later than the first business day following the day such facts become known to the depository institution. 12 USC 4004.

SEC. 605. DISCLOSURE OF FUNDS AVAILABILITY POLICIES. (a) NOTICE FOR N E W ACCOUNTS.—Before an account is opened at a

depository institution, the depository institution shall provide written notice to the potential customer of the specific policy of such depository institution with respect to when a customer may withdraw funds deposited into the customer's account. (b) PREPRINTED DEPOSIT SLIPS.—All preprinted deposit slips that a depository institution furnishes to its customers shall contain a

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summary notice, as prescribed by the Board in regulations, that deposited items may not be available for immediate withdrawal. (c) MAILING OF NOTICE.— (1) FIRST MAILING AFTER ENACTMENT.—In

the first regularly scheduled mailing to customers occurring after the effective date of this section, but not more than 60 days after such effective date, each depository institution shall send a written notice containing the specific policy of such depository institution with respect to when a customer may withdraw funds deposited into such customer's account, unless the depository institution has provided a disclosure which meets the requirements of this section before such effective date. (2) SUBSEQUENT CHANGES.—A depository institution shall send a written notice to customers at least 30 days before implementing any change to the depository institution's policy with respect to when customers may withdraw funds deposited into consumer accounts, except that any change which expedites the availability of such funds shall be disclosed not later than 30 days after implementation. (3) UPON REQUEST.—Upon the request of any person, a depository institution shall provide or send such person a written notice containing the specific policy of such depository institution with respect to when a customer may withdraw funds deposited into a customer's account.

' i S;

(d) POSTING OF NOTICE.— (1) SPECIFIC NOTICE AT MANNED TELLER STATIONS.—Each

depository institution shall post, in a conspicuous place in each location where deposits are accepted by individuals employed by such depository institution, a specific notice which describes the time periods applicable to the availability of funds deposited in a consumer account. (2) GENERAL NOTICE AT AUTOMATED TELLER MACHINES.—In the

case of any automated teller machine at which any funds are received for deposit in an account at any depository institution, the Board shall prescribe, by regulations, that the owner or operator of such automated teller machine shall post or provide a general notice that funds deposited in such machine may not be immediately available for withdrawal. (e) NOTICE OF INTEREST PAYMENT POLICY.—If a depository institution described in section 60603) begins the accrual of interest or dividends at a later date than the date described in section 606(a) with respect to all funds, including cash, deposited in an interestbearing account at such depository institution, any notice required to be provided under subsections (a) and (c) shall contain a written description of the time at which such depository institution begins to accrue interest or dividends on such funds. (f) MODEL DISCLOSURE FORMS.— (1) PREPARED BY BOARD.—The

Board shall publish model disclosure forms and clauses for common transactions to facilitate compliance with the disclosure requirements of this section and to aid customers by utilizing readily understandable language. (2) USE OF FORMS TO ACHIEVE COMPLIANCE.—A depository institution shall be deemed to be in compliance with the requirements of this section if such institution— (A) uses any appropriate model form or clause as published by the Board, or

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 101 STAT. 646

PUBLIC LAW 100-86—AUG. 10, 1987

•' ^ Federal Register, publication.

12 USC 4005.

12 USC 461.

(B) uses any such model form or clause and changes such form or clause by— (i) deleting any information which is not required by this title; or (ii) rearranging the format. (3) VOLUNTARY USE.—Nothing in this title requires the use of any such model form or clause prescribed by the Board under this subsection. (4) NOTICE AND COMMENT.—Model disclosure forms and clauses shall be adopted by the Board only after notice duly given in the Federal Register and an opportunity for public comment in accordance with section 553 of title 5, United States Code.

SEC. 606. PAYMENT OF INTEREST.

(a) IN GENERAL.—Except as provided in subsection (b) or (c) and notwithstanding any other provision of law, interest shall accrue on funds deposited in an interest-bearing account at a depository institution beginning not later than the business day on which the depository institution receives provisional credit for such funds. (b) SPECIAL RULE FOR CREDIT UNIONS.—Subsection (a) shall not apply to an account at a depository institution described in section 19(b)(l)(A)(iv) of the Federal Reserve Act if the depository institution— (1) begins the accrual of interest or dividends at a later date than the date described in subsection (a) with respect to all funds, including cash, deposited in such account; and (2) provides notice of the interest payment policy in the manner required under section 605(e). (c) EXCEPTION FOR CHECKS RETURNED UNPAID.—No provision of

this title shall be construed as requiring the payment of interest or dividends on funds deposited by a check which is returned unpaid. 12 USC 4006.

SEC. 607. MISCELLANEOUS PROVISIONS.

(a) AFTER-HOURS DEPOSITS.—For purposes of this title, any deposit which is made on a Saturday, Sunday, legal holiday, or after the close of business on any business day shall be deemed to have been made on the next business day. (b) AVAILABILITY AT START OF BUSINESS DAY.—Except as provided

in subsections 03)(3) and (c)(1)(B) of section 603, if any provision of this title requires that funds be available for withdrawal on any business day, such funds shall be available for withdrawal at the start of such business day. (c) EFFECT ON POLICIES OF DEPOSITORY INSTITUTIONS.—No provision

of this title shall be construed as— (1) prohibiting a depository institution from making funds g available for withdrawal in a shorter period of time than the period of time required by this title; or (2) affecting a depository institution's right— (A) to accept or reject a check for deposit; (B) to revoke any provisional settlement made by the depository institution with respect to a check accepted by ,. such institution for deposit; (C) to charge back the depositor's account for the amount of such check; or (D) to claim a refund of such provisional credit.

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(d) PROHIBITION ON FREEZING CERTAIN FUNDS IN AN ACCOUNT.—In

any case in which a check is deposited in an account at a depository institution and the funds represented by such check are not yet available for withdrawal pursuant to this title, the depository institution may not freeze any other funds in such account (which are otherwise available for withdrawal pursuant to this title) solely because the funds so deposited are not yet available for withdrawal. (e) EMPLOYEE TRAINING ON AND COMPUANCE WITH THE REQUIREMENTS OF THIS TITLE.—Each depository institution shall—

(1) take such actions as may be necessary fully to inform each employee (who performs duties subject to the requirements of this title) of the requirements of this title; and (2) establish and maintain procedures reasonably designed to assure and monitor employee compliance with such requirements. SEC. 608. EFFECT ON STATE LAW.

12 USC 4007.

(a) IN GENERAL.—Any law or regulation of any State in effect on September 1, 1989, which requires that funds deposited or received for deposit in an account at a depository institution chartered by such State be made available for withdrawal in a shorter period of time than the period of time provided in this title or in regulations prescribed by the Board under this title (as in effect on September 1, 1989) shall— (1) supersede the provisions of this title and any regulations by the Board to the extent such provisions relate to the time by which funds deposited or received for deposit in an account shall be available for withdrawal; and (2) apply to all federally insured depository institutions located within such State. (b) OVERRIDE OF CERTAIN STATE LAWS.—Except as provided in

subsection (a), this title and regulations prescribed under this title shall supersede any provision of the law of any State, including the Uniform Commercial Code as in effect in such State, which is inconsistent with this title or such regulations. SEC. 609. REGULATIONS AND REPORTS BY BOARD.

(a) IN GENERAL.—After notice and opportunity to submit comment in accordance with section 553(c) of title 5, United States Code, the Board shall prescribe regulations— (1) to carry out the provisions of this title; (2) to prevent the circumvention or evasion of such provisions; and (3) to facilitate compliance with such provisions. (b) REGULATIONS RELATING TO IMPROVEMENT OF CHECK PROCESSING

SYSTEM.—In order to improve the check processing system, the Board shall consider (among other proposals) requiring, by regulation, that— (1) depository institutions be charged based upon notification that a check or similar instrument will be presented for payment; (2) the Federal Reserve banks and depository institutions provide for check truncation; (3) depository institutions be provided incentives to return items promptly to the depository institution of first deposit;

12 USC 4008.

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 101 STAT. 648

PUBLIC LAW 100-86—AUG. 10, 1987

(4) the Federal Reserve banks and depository institutions take V such actions as are necessary to automate the process of return- ing unpaid checks; \ (5) each depository institution and Federal Reserve bank— (A) place its endorsement, and other notations specified V in regulations of the Board, on checks in the positions f specified in such r e f l a t i o n s; and (B) take such actions as are necessary to— (i) automate the process of reading endorsements; fiv'' and ' (ii) eliminate unnecessary endorsements; (6) within one business day after an originating depository il amount as the Board may prescribe)— (A) such originating depository institution determines whether it will pay such check; and (B) if such originating depository institution determines uL that it will not pay such check, such originating depository i', institution directly notify the receiving depository institun tion of such determination; (7) regardless of where a check is cleared initially, all recturned checks be eligible to be returned through the Federal Reserve System; (8) Federal Reserve banks and depository institutions participate in the development and implementation of an electronic ^^; clearinghouse process to the extent the Board determines, ^ • pursuant to the study under subsection (f), that such a process is feasible; and i (9) originating depository institutions be permitted to return unpaid checks directly to, and obtain reimbursement for such checks directly from, the receiving depository institution.
 * v institution is presented a check (for more than such minimum

• '

(c) REGULATORY RESPONSIBILITY OF BOARD FOR PAYMENT SYSTEM.— » ^ (1) RESPONSIBILITY FOR PAYMENT SYSTEM.—In order to carry

,

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^ r out the provisions of this title, the Board of Grovernors of the Federal Reserve System shall have the responsibility to regulate— (A) any aspect of the payment system, including the receipt, payment, collection, or clearing of checks; and -,j (B) any relateid function of the payment system with respect to checks. (2) REGULATIONS.—The Board shall prescribe such regulations as it may determine to be appropriate to carry out its responsibility under paragraph (1). (d) REPORTS.— (1) IMPLEMENTATION PROGRESS REPORTS.— (A) REQUIRED REPORTS.—The Board

. •

shall transmit a report to both Houses of the Congress not later than 18, 30, and 48 months after the date of the enactment of this title. (B) CONTENTS OF REPORT.—Each such report shall describe— (i) the actions taken and progress made by the Board to implement the schedules established in section 603, '*

and

(ii) the impact of this title on consumers and depository institutions. (2) EVALUATION OF TEMPORARY SCHEDULE REPORT.—

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^

(A) REPORT REQUIRED.—The Board shall transmit a report to both Houses of the Congress not later than 2 years after the date of the enactment of this title regarding the effects the temporary schedule established under section 603(c) have had on depository institutions and the public. (B) CONTENTS OF REPORT,—Such report shall also assess '^^ the potential impact the implementation of the schedule established in section 603(b) will have on depository institu^„,,, tions and the public, including an estimate of the risks to and losses of depository institutions and the benefits to consumers. Such report shall also contain such recommendations for legislative or administrative action as the Board may determine to be necessary. • (3) COMPTROLLER GENERAL EVALUATION REPORT.—Not later than 6 months after section 603(b) takes effect, the Comptroller General of the United States shall transmit a report to the Congress evaluating the implementation and administration of this title. (e) CONSULTATION.—In prescribing regulations under subsections (a) and (b), the Board shall consult with the Comptroller of the Currency, the Board of Directors of the Federal Deposit Insurance Corporation, the Federal Home Loan Bank Board, and the National Credit Union Administration Board.

^^

(f) ELECTRONIC CLEARINGHOUSE STUDY.— (1) STUDY REQUIRED.—The Board shall study the feasibility of

o

modernizing and accelerating the check payment system through the development of an electronic clearinghouse process utilizing existing telecommunications technology to avoid the necessity of actual presentment of the paper instrument to a payor institution before such institution is charged for the item. (2) CONSULTATION; FACTORS TO BE STUDIED.—In connection with the study required under paragraph (1), the Board shall— (A) consult with appropriate experts in telecommunications technology; and (B) consider all practical and legal impediments to the development of an electronic clearinghouse process. (3) REPORT REQUIRED.—The Board shall report its conclusions to the Congress within 9 months of the date of the enactment of this title.

SEC. 610. ADMINISTRATIVE ENFORCEMENT.

12 USC 4009.

(a) ADMINISTRATIVE ENFORCEMENT.—Compliance with the requirements imposed under this title, including regulations prescribed by and orders issued by the Board of Governors of the Federal Reserve System under this title, shall be enforced under— (1) section 8 of the Federal Deposit Insurance Act in the case 12 USC I8I8 of— (A) national banks, by the Comptroller of the Currency; (B) member banks of the Federal Reserve System (other than national banks), by the Board of Governors of the Federal Reserve System; and (C) banks insured by the Federal Deposit Insurance Corporation (other than members of the Federal Reserve System), by the Board of Directors of the Federal Deposit Insurance Corporation; (2) section 5(d) of the Home Owners' Loan Act of 1933, section 12 USC 1464. 407 of the National Housing Act, and section 17 of the Federal 12 USC nm.

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text: Dictionary of National Biography, 1885-1900/Paul, John (1777-1848)


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 101 STAT. 650 12 USC 1437.

12 USC 1751.

PUBLIC LAW 100-86—AUG. 10, 1987 Home Loan Bank Act, by the Federal Home Loan Bank Board (acting directly or through the Federal Savings and Loan Insurj ance Corporation), in the case of any institution subject to any of those provisions; and (3) the Federal Credit Union Act, by the National Credit Union Administration Board with respect to any Federal credit union or insured credit union. (b) ADDITIONAL POWERS.— (1) VIOLATION OF THIS TITLE TREATED AS VIOLATION OF OTHER

^ „ ACTS.—For purposes of the exercise by any agency referred to in subsection (a) of this section of its powers under any Act referred to in that subsection, a violation of any requirement imposed under this title shall be deemed to be a violation of a requirement imposed under that Act. (2) ENFORCEMENT AUTHORITY UNDER OTHER ACTS.—In addition to its powers under any provision of law specifically referred to in subsection (a) of this section, each of the agencies referred to in such subsection may exercise, for purposes of enforcing compliance with any requirement imposed under this title, any other authority conferred on it by law. j (c) ENFORCEMENT BY THE BOARD.—

!

12 USC 4010.

"

(1) IN GENERAL,—Except to the extent that enforcement of the requirements imposed under this title is specifically committed to some other Government agency under subsection (a) of this section, the Board of Governors of the Federal Reserve System shall enforce such requirements. (2) ADDITIONAL REMEDY.—If the Board determines that— a (A) any depository institution which is not a depository institution described in subsection (a), or (B) any other person subject to the authority of the Board under this title, including any person subject to the authority of the Board under section 605(d)(2) or 609(c), has failed to comply with any requirement imposed by this title or by the Board under this title, the Board may issue an order prohibiting any depository institution, any Federal Reserve bank, or any other person subject to the authority of the Board from engaging in any activity or transaction which directly or indirectly involves such noncomplying depository institution or person (including any activity or transaction involving the receipt, payment, collection, and clearing of checks and any related function of the payment system with respect to checks). (d) PROCEDURAL RULES.—The authority of the Board to prescribe regulations under this title does not impair the authority of any other agency designated in this section to make rules regarding its own procedures in enforcing compliance with requirements imposed under this title. SEC. 611. CIVIL LIABILITY. (a) CIVIL LIABILITY.—Except as otherwise provided in this section,

any depository institution which fails to comply with any requirement imposed under this title or any regulation prescribed under this title with respect to any person other than another depository institution is liable to such person in an amount equal to the sum of— (1) any actual damage sustained by such person as a result of the failure;

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(2)(A) in the case of an individual action, such additional amount as the court may allow, except that the liability under this subparagraph shall not be less than $100 nor greater than $1,000; or (B) in the case of a class action, such amount as the court may allow, except that— (i) as to each member of the class, no minimum recovery shall be applicable; and (ii) the total recovery under this subparagraph in any class action or series of class actions arising out of the same failure to comply by the same depository institution shall not be more than the lesser of $500,000 or 1 percent of the net worth of the depository institution involved; and (3) in the case of any successful action to enforce the foregoing liability, the costs of the action, together with a reasonable attorney's fee as determined by the court. Qo) CLASS ACTION AWARDS.—In determining the amount of any award in any class action, the court shall consider, among other relevant factors— (1) the amount of any actual damages awarded; (2) the frequency and persistence of failures of compliance; (3) the resources of the depository institution; (4) the number of persons adversely affected; and .r (5) the extent to which the failure of compliance was intentional.

-

(c) BONA FIDE ERRORS.— (1) GENERAL RULE.—A

depository institution may not be held s liable in any action brought under this section for a violation of this title if the depository institution demonstrates by a preponderance of the evidence that the violation was not intentional and resulted from a bona fide error, notwithstanding the maintenance of procedures reasonably adapted to avoid any such error. (2) EXAMPLES.—Examples of a bona fide error include clerical, calculation, computer malfunction and programming, and printing errors, except that an error of legal judgment with respect to a depository institution's obligation under this title is not a bona fide error. (d) JURISDICTION.—Any action under this section may be brought in any United States district court, or in any other court of competent jurisdiction, within one year after the date of the occurrence of the violation involved. (e) RELIANCE ON BOARD RULINGS.—No provision of this section imposing any liability shall apply to any act done or omitted in good faith in conformity with any rule, regulation, or interpretation thereof by the Board of Governors of the Federal Reserve System, notwithstanding the fact that after such act or omission has occurred, such rule, regulation, or interpretation is amended, rescinded, or determined by judicial or other authority to be invalid for any reason. (f) AUTHORITY TO ESTABLISH RULES REGARDING LOSSES AND LIABILITY AMONG DEPOSITORY INSTITUTIONS.—The Board is authorized to

impose on or allocate among depository institutions the risks of loss and liability in connection with any aspect of the payment system, including the receipt, payment, collection, or clearing of checks, and any related function of the payment system with respect to checks. Liability under this subsection shall not exceed the amount of the

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 101 STAT. 652

PUBLIC LAW 100-86—AUG. 10, 1987

check giving rise to the loss or liability, and, where there is bad faith, other damages, if any, suffered as a proximate consequence of any act or omission giving rise to the loss or liability. SEC. 612. PARITY IN CLEARING.

12 USC 248a "ote. 12 USC 4001

'

(a) IN GENERAL.—Section 11A of the Federal Reserve Act (12 U.S.C. 248a) is amended by adding at the end thereof the following: "(e) All depository institutions, as defined in section 19(b)(1) (12 U.S.C. 461(b)(1)), may receive for deposit and as deposits any evidences of transaction accounts, as defined by section 19(b)(1) (12 U.S.C. 461(b)(1)) from other depository institutions, as defined in section 19(b)(1) (12 U.S.C. 461(b)(1)) or from any office of any Federal Reserve bank without regard to any Federal or State law restricting the number or the physical location or locations of such depository institutions.". (b) EFFECTIVE DATE.—The amendment made by subsection (a) shall take effect on the date of enactment of this title. SEC. 613. EFFECTIVE DATES. (a) DATE OF ENACTMENT.—Except as provided in subsection (b),

this title shall take effect on the date of the enactment of this title. (b) 1 YEAR AFTER DATE OF ENACTMENT.—Sections 603, 604, 605,

606, 610, and 611 shall take effect on September 1, 1988.

Ce i U i n r dt no Amendments of 1987. 12 USC 1751 note.

TITLE VII—CREDIT UNION AMENDMENTS -^

SEC. 701. SHORT TITLE.

•

^ ' '

"

This title may be cited as the "Credit Union Amendments of 1987". SEC. 702. SECOND MORTGAGE AND HOME IMPROVEMENT LOANS.

Section 107(5)(A)(ii) of the Federal Credit Union Act (12 U.S.C. 1757(5)(A)(ii)) is amended by striking out "fifteen years" and all that follows and inserting in lieu thereof "15 years or any longer term which the Board may allow;". SEC. 703. OWNERSHIP INTEREST.

"

.

Section 107(6) of the Federal Credit Union Act (12 U.S.C. 1757(6)) is amended by inserting ", representing equity," after "payments". SEC. 704. FAITHFUL PERFORMANCE. (a) FINANCIAL OFFICER.—Section 112 of the Federal Credit Union

Act (12 U.S.C. 1761a) is amended by striking out the third sentence and inserting in lieu thereof the following: "The board shall elect from their number a financial officer who shall give adequate fidelity coverage in accordance with section 113(2) of this Act.". (b) ADEQUATE FIDEUTY COVERAGE.—Section 113 of the Federal Credit Union Act (12 U.S.C. 1761b) is amended by striking out paragraph (2) and inserting in lieu thereof the following: "(2) provide adequate fidelity coverage for officers and employees having custody of or handling funds according to regulations issued by the Board;". SEC. 705. MEMBERSHIP OFFICERS.

Section 113(1) of the Federal Credit Union Act (12 U.S.C. 1761b(l)) is amended by striking out "of the board of directors" and inserting in lieu thereof "of the credit union". ,.

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text: Dictionary of National Biography, 1885-1900/Paul, John Dean


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101 STAT. 653

SEC. 706. NONPARTICIPATION.

Section 118 of the Federal Credit Union Act (12 U.S.C. 1764) is amended— (1) by striking out "Subject to" in subsection (a) and inserting in lieu thereof "Except as provided in"; and (2) by inserting "and enforce" after "adopt" in subsection (b).

»

^

SEC. 707. PROPERTY ACQUISITION FLEXIBILITY.

Section 120(i)(2) of the Federal Credit Union Act (12 U.S.C. 1766(i)(2)) is amended— (1) by inserting after "reimbursement," the following: "acquire and dispose of, by lease or purchase, real or personal property, without regard to the provisions of any other law applicable to executive or independent agencies of the United States,"; and (2) by inserting after "this Act" the following: ", in accordance ^ with the rules and regulations or policies established by the Board not inconsistent with this Act'. SEC. 708. TREATMENT OF NCUAB FUNDS.

Title I of the Federal Credit Union Act is amended by adding at the end thereof the following: "SEC. 129. TRUST FUND.

12 USC 1772c.

"Notwithstanding any other provision of law, all moneys of the Board shall be treated as trust funds for the purpose of section 256ia)(2) of the Balanced Budget and Emergency Deficit Control Act of 1^85. This section is effective for fiscal year 1986 and every fiscal Ante, p. 634. yeai: thereafter.". SEC.i709. TECHNICAL AND CLARIFYING AMENDMENTS; REMOVAL AND \ PROHIBITION AUTHORITY.

Section 206(g) of the Federal Credit Union Act (12 U.S.C. 1786(g)) is amended— • (1) in paragraph (1), by striking out "director, officer, or committee member" each time it appears and inserting in lieu thereof "director, officer, committee member, or employee"; (2) in paragraph (2), by striking out "director, officer, or committee member" each place it appears and inserting in lieu thereof "director, officer, committee member, or emplovee"; (3) in paragraph (2), by striking out "any other person' and inserting in lieu thereof "any agent or other person"; and (4) in paragraph (2), by inserting "employee, agent," before "or other person '. SEC. 710. EFFECT OF REMOVAL OR SUSPENSION.

Section 206(g) of the Federal Credit Union Act (12 U.S.C. 1786(g)) is amended by adding at the end thereof the following: "(7)(A) Any person who, pursuant to this subsection, is removed, suspended, or prohibited from participation in the conduct of the affairs of an insured credit union shall also be removed, suspended, or prohibited from participation in the conduct of the affairs of any insured institution, any bank holding company or subsidiary of a bank holding company, any organization organized and operated under section 25(a) of the Federal Reserve Act or operating under section 25 of the Federal Reserve Act, and any savings and loan holding company or subsidiary of a savings and loan holding com-

'

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 101 STAT. 654 12 USC 1701.

PUBLIC LAW 100-86—AUG. 10, 1987

pany (as those terms are defined in the National Housing Act), and any institution chartered by and subject to regulation by the Farm Credit Administration without the prior written approval of the appropriate Federal regulatory agency. "(B) As used in subsection (g), the term 'insured institution' means an insured credit union or a depository institution whose accounts are insured by the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation.". SEC. 711. IMPOSITION OF CONSERVATORSHIP.

Section 206(h)(1) of the Federal Credit Union Act (12 U.S.C. 1786(h)(1)) is amended— (1) by striking out "or" at the end of subparagraph (A); (2) by striking out the period at the end of subparagraph (B) and inserting in lieu thereof a semicolon; and (3) by adding at the end thereof the following: "(C) there is a willful violation of a cease-and-desist order which has become final; or "(D) there is concealment of books, papers, records, or assets of the credit union or refusal to submit books, papers, records, or affairs of the credit union for inspection to any examiner or to any lawful agent of the Board.". SEC. 712. REDUCTION IN STATE COMMENT WAITING PERIOD.

Section 206(h)(2)(B) of the Federal Credit Union Act (12 U.S.C. 1786(h)(2)(B)) is amended by striking out "ninety" and inserting in lieu thereof "30". SEC. 713. AUTHORITY AS CONSERVATOR.

Section 206(h) of the Federal Credit Union Act (12 U.S.C. 1786(h)) is amended— (1) by redesignating paragraph (8) as paragraph (9); and (2) by inserting after paragraph (7) the following: "(8) The conservator shall have all the powers of the members, the directors, the officers, and the committees of the credit union and shall be authorized to operate the credit union in its own name or to conserve its assets in the manner and to the extent authorized by the Board.". SEC. 714. LIQUIDATION PROCEEDINGS. (a) APPLICATION FOR SHOW CAUSE ORDER.—Section 207(a)(1) of the

Federal Credit Union Act (12 U.S.C. 1787(a)(1)) is amended— (1) by inserting "(A)" after "(1)"; and (2) by adding at the end thereof the following: "(B) Not later than 10 days after the date on which the Board closes a credit union for liquidation pursuant to paragraph (1), or accepts appointment as liquidating agent pursuant to subsection (b), such insured credit union may apply to the United States district court for the judicial district in which the principal office of such insured credit union is located or the United States District Court for the District of Columbia, for an order requiring the Board to show cause why it should not be prohibited from continuing such liquidation. Except as otherwise provided in this subparagraph, no court may take any action for or toward the removal of any liquidating agent or, except at the instance of the Board, restrain or affect the exercise of powers or functions of a liquidating agent.".

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text: Dictionary of National Biography, 1885-1900/Paul, Lewis


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101 STAT. 655

(b) LIQUIDATIONS SUBJECT TO REGULATION OF THE BOARD.—Section

208(c) of the Federal Credit Union Act (12 U.S.C. 1788(c)) is redesignated as subsection (j) of section 207 (12 U.S.C. 1787) and is amended by striking out "subject to the regulation of the court or other public body having jurisdiction over the matter" and inserting in lieu thereof "subject only to the regulation of the Board, or, in cases where the Board has been appointed liquidating agent solely by a public authority having jurisdiction over the matter other than said Board, subject only to the regulation of such public authority". (c) CONFORMING AMENDMENT.—Section 208(d) of the Federal

Credit Union Act (12 U.S.C. 1788(d)) is redesignated as section 208(c). SEC. 715. TRANSFER OF FTC JURISDICTION TO NCUAB. (a) IN GENERAL.—

(1) Sections 5(a)(2) and 6(a) of the Federal Trade Commission Act (15 U.S.C. 45(a)(2) and 46(a)) are amended by inserting immediately after "section 18(f)(3)," the following: "Federal credit unions described in section 18(f)(4),". 15 USC 57a. (2) Section 6(b) of the Federal Trade Commission Act (15 U.S.C. 46(b)) is amended by inserting immediately after "section 18(f)(3)," the following "Federal credit unions described in section 18(f)(4),". (b) INVESTIGATIONS OF FOREIGN TRADE CONDITIONS; REPORTS.—The

second proviso in section 6 of the Federal Trade Commission Act (15 U.S.C. 46) is amended— (1) by inserting immediately after "section 18(f)(3)," the following: "Federal credit unions described in section 18(f)(4),"; and (2) by inserting immediately after "in business as a savings and loan institution," the following: "in business as a Federal credit union,".

^.

(c) REGULATIONS TO B E PRESCRIBED BY NCUAB.—

(1) The second sentence of section 18(D(1) of the Federal Trade Commission Act (15 U.S.C. 57a(f)(l)) is amended by inserting immediately after "paragraph (3))" the following: "and the National Credit Union Administration Board (with respect to Federal credit unions described in paragraph (4))". (2) The last sentence of section 18(f)(1) of the Federal Trade Commission Act (15 U.S.C. 57a(f)(l)) is amended— (A) by striking "either such" and inserting in lieu thereof "any such"; (B) by inserting "or Federal credit unions described in paragraph (4)," immediately after "paragraph (3)," each place it appears therein; and (C) by inserting immediately after "with respect to banks" the following: ", savings and loan institutions or Federal credit unions". (3) Section 18(f) of the Federal Trade Commission Act (15 U.S.C. 57a(f)) is amended by redesignating paragraphs (4), (5), and (6) as paragraphs (5), (6), and (7), respectively, and by inserting immediately after paragraph (3) the following: "(4) Compliance with regulations prescribed under this subsection shall be enforced with respect to Federal credit unions under sections 120 and 206 of the Federal Credit Union Act (12 U.S.C. 1766 and 1786).".

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 101 STAT. 656

PUBLIC LAW 100-86—AUG. 10, 1987

SEC. 716. ASSETS WHICH MAY BE PLEDGED.

State and local governments. Indians.

(a) IN GENERAL.—Section 121 of the Federal Credit Union Act (12 U.S.C. 1767) is amended by adding at the end thereof the following new subsection: "(b) Any Federal credit union, upon the deposit with it of any funds by the Federal Government, an Indian tribe, or any State or local government or political subdivision thereof as otherwise authorized by this Act, is authorized to pledge any of its assets securing the payment of the funds so deposited.". (b) CONFORMING AMENDMENT.—Section 121 of the Federal Credit

Union Act (12 U.S.C. 1767) is amended by striking out "Each" in the first sentence and inserting in lieu thereof "(a) Each".

TITLE VIII—LOAN LOSS AMORTIZATION SEC. 801. LOAN LOSS AMORTIZATION FOR AGRICULTURAL BANKS.

Ante, p. 623.

Section 13 of the Federal Deposit Insurance Act (12 U.S.C. 1823) is amended by adding at the end thereof the following: "(j) LOAN LOSS AMORTIZATION FOR CERTAIN BANKS.—

Fraud.

Real property.

"(1) ELIGIBILITY.—The appropriate Federal banking agency shall permit an agricultural bank to take the actions referred to in paragraph (2) if it finds that— "(A) there is no evidence that fraud or criminal abuse on the part of the bank led to the losses referred to in para-mi graph (2); and ' • "(B) the agricultural bank has a plan to restore its capital, not later than the close of the amortization period established under paragraph (2), to a level prescribed by the appropriate Federal banking agency. "(2) SEVEN-YEAR LOSS AMORTIZATION.—(A) Any loss on any qualified agricultural loan that an agricultural bank would otherwise be required to show on its annual financial statement for any year between December 31, 1983, and January 1, 1992, may be amortized on its financial statements over a period of -' not to exceed 7 years, as provided in regulations issued by the appropriate Federal banking agency. "(B) An agricultural bank may reappraise any real estate or other property, real or personal, that it acquired coincident to ' the making of a qualified agricultural loan and that it owned on January 1, 1983, and any such additional property that it acquires prior to January 1, 1992. Any loss that such bank would otherwise be required to show on its annual financial statements as the result of any such reappraisal may be amortized on its financial statements over a period of not to exceed 7 ' years, as provided in regulations issued by the appropriate Federal banking agency. "(3) REGULATIONS.—Not later than 90 days after the date of enactment of this subsection, the appropriate Federal banking agency shall issue regulations implementing this subsection with respect to banks that it supervises, including regulations implementing the capital restoration requirement of paragraph (1)(B). "(4) DEFINITIONS.—As used in this subsection— "(A) the term 'agricultural bank'means a bank—

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text: Dictionary of National Biography, 1885-1900/Paul, Robert Bateman


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101 STAT. 657

"(i) the deposits of which are insured by the Federal Deposit Insurance Corporation; ...;; "rfj V,, (ii) which is located in an area the economy of which is dependent on agriculture; "(iii) which has assets of $100,000,000 or less; and w' \ "(iv) which has— "(I) at least 25 percent of its total loans in qualified agricultural loans; or "(II) fewer than 25 percent of its total loans in qualified agricultural loans but which the appropriate Federal banking agency or State bank commissioner recommends to the Corporation for eligibility under this section, or which the Corporae tion, on its motion, deems el^ble; and "(B) the term 'qualified agricultural loan' means a loan '>' - made to finance the production of agricultural products or livestock in the United States, a loan secured by farmland or farm machinery, or such other category of loans as the appropriate Federal banking agency may deem eligible. "(5) MAINTENANCE OF PORTFOUO.—As a condition of eligibility under this subsection, the agricultural bank must agree to maintain in its loan portfolio a percentage of agricultural loans ' which is not lower than the percentage of such loans in its loan portfolio on January 1, 1986..

TITLE IX—FULL FAITH AND CREDIT OF FEDERALLY INSURED DEPOSITORY INSTITUTIONS SEC. 901. REAFFIRMATION OF SECURITY OF FUNDS DEPOSITED IN FEDERALLY INSURED DEPOSITORY INSTITUTIONS.

(a) FINDINGS.—The Congress finds and declares that— (1) since the 1930's, the American people have relied upon Federal deposit insurance to ensure the safety and security of their funds in federally insured depository institutions; and (2) the safety and security of such funds is an essential element of the American financial system. 0)) SENSE OF CONGRESS.—In view of the findings and declarations contained in subsection (a), it is the sense of the Congress that it should reaffirm that deposits up to the statutorily prescribed £unount in federally insured depository institutions are backed by the full faith and credit of the United States.

TITLE X—GOVERNMENT CHECKS SEC. 1001. REPORT ON DIFFICULTY IN CASHING TREASURY CHECKS.

Not later than 6 months after the date of enactment of this Act, the Comptroller General of the United States shall conduct a study and transmit a report to the Committee on Banking, Finance and Urban Affairs of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate on the extent to which individuals who receive Treasury checks have difficulty cashing such checks.

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 101 STAT. 658

PUBLIC LAW 100-86—AUG. 10, 1987

SEC. 1002. TIME LIMIT ON PAYMENT OF TREASURY CHECKS.

Section 3328 of title 31, United States Code, is amended— (1) by striking out subsection (a) and inserting in lieu thereof the following: "(a) TIME LIMIT ON TREASURY CHECKS.—

31 USC 3329, 3330.

"(1) IN GENERAL.—Except as provided in sections 3329 and 3330 of this title— "(A) the Secretary shall not be required to pay a Treasury check issued on or after the effective date of this section unless it is negotiated to a financial institution within 12 months after the date on which the check was issued; and "(B) the Secretary shall not be required to pay a Treasury check issued before the effective date of this section unless it is negotiated to a financial institution within 12 months -* after such effective date. "(2) DEFERRAL PENDING SETTLEMENT.—Notwithstanding

the

time limitations imposed by paragraph (1), if the Secretary is on notice of a question of law or fact about whether a Treasury check is properly payable when the check is presented for payment, the Secretary may defer payment on such check until the Comptroller General settles the question. 7 "(3) Nothing in this subsection shall be construed to affect the . « underlying obligation of the United States, or any agency thereof, for which a Treasury check was issued."; and (2) by adding at the end thereof the following: "(f) AUTHORITY TO DECUNE PAYMENT.—Nothing in this section limits the authority of the Secretary to decline payment of a Treasury check after first examination thereof at the Treasury.". SEC. 1003. CANCELLATION OF TREASURY CHECKS.

Chapter 33 of title 31, United States Code, is amended by adding at the end of subchapter II the following new section: "§ 3334. Cancellation and proceeds distribution of Treasury checks "(a) IN GENERAL.—(1) The Secretary shall provide monthly to each agency that authorizes the issuance of Treasury checks a list of those checks issued for such agency on or after such effective date that have not been paid and have become more than 12 months old during the preceding month, bejginning with the fourteenth month following the effective date of this section. "(2) Such checks shall be canceled by the Secretary and the proceeds thereof shall be returned to the agency concerned and credited to the appropriation or fund account initially charged for thepa5mient. "(b) CHECKS ISSUED BEFORE EFFECTIVE DATE.—(1) Not later than 18 months after the effective date of this section, the Secretary shall identify and cancel all Treasury checks issued before such effective date that have not been paid in accordance with section 3328 of this title. "(2) The proceeds from checks canceled pursuant to paragraph (1) shall be applied to eliminate the balances in accounts that represent uncollectible accounts receivable and other costs associated with the payment of checks and check claims by the Department of the Treasury on behalf of all payment certifying agencies. Any remaining proceeds shall be deposited to the miscellaneous receipts of the Treasury. . • -^....

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 PUBLIC LAW 100-86—AUG. 10, 1987

101 STAT. 659

"(c) No EFFECT ON UNDERLYING OBLIGATION.—Nothing in this section shall be construed to affect the underlying obligation of the United States, or any agency thereof, for which a Treasury check was issued.". SEC. 1004. LIMITATION ON RECLAMATION ACTIONS AND CLAIMS.

(a) IN GENERAL.—Section 3712(a) of title 31, United States Code, is amended to read as follows: "(a) CLAIMS OVER FORGED OR UNAUTHORIZED ENDORSEMENTS.— "(1) PERIOD FOR CLAIMS.—If the Secretary of the Treasury

Fraud.

determines that a Treasury check has been paid over a forged or unauthorized endorsement, the Secretary may reclaim the amount of such check from the presenting bank or any other endorser that has breached its guarantee of endorsements prior to— "(A) the end of the 1-year period beginning on the date of payment; or "(B) the expiration of the 180-day period beginning on the close of the period described in subparagraph (A) if a timely claim is received under section 3702. Infra. "(2) CIVIL ACTIONS.—(A) Except as provided in subparagraph

(B), the United States may bring a civil action to enforce the liability of an endorser, transferor, depository, or fiscal agent on a forged or unauthorized signature or endorsement on, or a change in, a check or warrant issued by the Secretary of the Treasury, the United States Postal Service, or any disbursing official or agent not later than 1 year after a check or warrant is presented to the drawee for payment. "(B) If the United States has given an endorser written notice of a claim against the endorser within the time allowed by subparagraph (A), the 1-year period for bringing a civil action on that claim under subparagraph (A) shall be extended by 3 years. "(3) EFFECT ON AGENCY AUTHORITY.—Nothing in this subsection shall be construed to limit the authority of any agency under subchapter II of chapter 37 of this title.". 31 USC 3711. (b) CLAIMS PRESENTED TO AGENCIES.—Section 3702(c) of title 31, United States Code, is amended to read as follows: "(c) ONE-YEAR LIMIT FOR CHECK CLAIMS.—(1) Any claim on account of a Treasury check shall be barred unless it is presented to the agency that authorized the issuance of such check within 1 year after the date of issuance of the check or the effective date of this subsection, whichever is later. "(2) Nothing in this subsection affects the underlying obligation of the United States, or any agency thereof, for which a Treasury check was issued.". SEC. 1005. REGULATIONS.

The Secretary of the Treasury may prescribe such rules, regulations, and procedures as the Secretary deems necessary to implement the amendments made by sections 1002, 1003, and 1004, including the recertification of Treasury checks which have been canceled or for which a claim has been asserted or barred. SEC. 1006. EFFECTIVE DATE.

The amendments made by sections 1002, 1003, and 1004 shall become effective 6 months after the date of enactment of this Act or

31 USC 3328 note.

31 USC 3328 note.

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 101 STAT. 660

PUBLIC LAW 100-86—AUG. 10, 1987

on such later date as the Secretary of the Treasury may prescribe in regulations.

TITLE XI—INTEREST TO CERTAIN ' ^,^^_.^,^^_^^^^^:^.^^ DEPOSITORS _,.^^;' ,

New York.

12 USC 1813.

New York.

SEC. 1101. INTEREST TO CERTAIN DEPOSITORS.

(a) PAYMENT OF INTEREST REQUIRED.—Notwithstanding any other provision of law, the Federal Deposit Insurance Corporation shall pay interest in accordance with the requirements of subsection (b) on nonnegotiable certificates (commonly referred to as "yellow certificates") which— (1) were issued by the Golden Pacific National Bank of New York, New York, before such bank was declared to be insolvent by the Comptroller of the Currency on June 21, 1985; and (2) have been determined to be insured deposits (as such term is defined in section 3(m)(l) of the Federal Deposit Insurance Act) in anyj'udicial action or agency proceeding. (b) COMPUTATION OF INTEREST.—Interest required to be paid under subsection (a) with respect to any certificate described in such subsection shall be computed— (1) on the principal amount of that portion of such certificate which was determined to be an insured deposit; (2) at the statutory rate of interest in effect under the law of the State of New York; and (3) for the period beginning on June 21, 1985, and ending on the date on which the holder of such certificate, or the holder's representative, receives the payment of deposit insurance on account of such certificate from the Federal Deposit Insurance Corporation.

TITLE XII—MISCELLANEOUS PROVISIONS SEC. 1201. HIGH YIELD BOND STUDY.

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^si: QSti s;

(a) IN GENERAL.—The Comptroller General, in consultation with the Securities and Exchange Commission, the Federal Home Loan Bank Board, the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Savings and Loan Insurance Corporation, the Federal Deposit Insurance Corporation, the Secretary of the Treasury, and the Secretary of Labor shall study on a comparative basis to other types of investments made by federally insured institutions the issuance of and investment in high yield, noninvestment grade bonds during the 5 years prior to the date of enactment of this Act, including— (1) the identity and rating (as determined by Moody's, Standard and Poor's, or other nationally recognized bond rating house) of the issuers of these bonds; (2) the identity of the major purchasers of these bonds, including but not limited to federally insured depository institutions; (3) the percentage of the total amount of high yield, noninvestment grade bonds that are issued as a method of financing corporate takeovers; (4) the identity of the purchasers including, but not limited to, federally insured depository institutions that invest in high

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 might-have-beens and the "fatuous ineffectual yesterdays" of life. There is a certain sardonic satisfaction to be gleaned from a frank recognition of the fact that you are the architect of your own misfortune. He felt that satisfaction, and laughed at Darkey, who was one of those who bleat about "ill-luck" and "victims of circumstance."

"No doubt," he would say, "you're a very deserving fellow, Darkey, who s been treated badly. I'm not." To have attained such wisdom at twenty-five is not to have lived altogether in vain.

A park-keeper presently arrived to unlock the gates, and the band of outcasts straggled indolently towards the nearest sheltered seats. Some went to sleep at once, in a sitting posture. Darkey produced a clay pipe, and, charging it with a few shreds of tobacco laboriously gathered from his waistcoat pocket, began to smoke. He was accustomed to this sort of thing, and with a pipe in his mouth could contrive to be moderately philosophical upon occasion. He looked curiously at his companion, who lay stretched at full length on another bench.

"I say, pal," he remarked, "I've known ye two days; ye've never told me yer name, and I don't ask ye to. But I see ye've not slep' in a park before."

"You hit it, Darkey; but how?"

"Well, if the keeper catches ye lying down he'll be on to ye. Lying down s not allowed."

The man raised himself on his elbow.

"Really now," he said, "that's interesting. But I think I ll give the keeper the opportunity of moving me. Why, it's quite fine, the sun's coming out and the sparrows are hopping round—cheeky little devils! I m not sure that I don t feel jolly."

"I wish I d got the price of a pint about me," sighed Darkey, and

title: Page:The Yellow Book - 06.djvu/109


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 PUBLIC LAW 100-86—AUG. 10, 1987

101 STAT. 661

yield, noninvestment grade bonds that are issued as a method of financing corporate takeovers; (5) the purposes for which high jdeld, noninvestment grade bonds are issued other than for financing corporate takeovers; (6) a summary and analysis of the adequacy of current State and Federal laws that regulate investment in high yield, t noninvestment grade bonds, by investors including, but not limited to, federally insured depository institutions and pension funds; and (7) a review of the impact of the issuance of and investment in high yield, noninvestment grade bonds upon corporate debt as it relates to Federal monetary policy. (b) OTHER TYPES OF DIRECT INVESTMENT.—In preparing this study, the Comptroller General, in consultation with the aforementioned Federal agencies, shall also examine all other types of direct investments made by Federally insured institutions and the effect these investments have had on Federal insurance funds. (c) PuBuc HEARING.—In addition to the collection of information through surveys, public document review, interviews, and other information-gathering methods, at least one joint public hearing shall be held during the course of conducting the study. (d) REPORTING DATE.—The Comptroller General shall transmit a report containing the results of the study under this section to the Congress not later than 6 months after the date of enactment of this Act. SEC. 1202. STUDY OF COMPETITIVE MECHANISM.

ISSUES

IN

THE

PAYMENTS

(a) IN GENERAL.—The Comptroller General, in coordination and consultation with the Board of Governors of the Federal Reserve System, shall conduct a study of— (1) the Federal Reserve System's exemption from the imposition of presentment fees; (2) the impact of the imposition of presentment fees on the efficiency of the check collection system; and (3) whether the Federal Reserve System requires check clearinghouses to provide services to Federal Reserve banks and whether Federal Reserve banks should pay check clearinghouses for any such services. (b) REPORTING DATE.—The Comptroller General shall submit its report to Congress not later than 6 months after the date of enactment of this Act. SEC. 1203. STUDY AND REPORTS CONCERNING DIRECT INVESTMENTS.

(a) STUDY REQUIRED.—The Federal Home Loan Bank Board shall conduct a study of the effect of direct investment activities on insured institutions, including comparative analyses of the effect of direct investment activities on— (1) different sized insured institutions; (2) State chartered insured institutions; (3) federally chartered insured institutions; and (4) insured institutions in each of the Supervisory Examinations Rating Classifications. (b) REPORT REQUIRED.—Not later than 18 months after the date of enactment of this Act, the Federal Home Loan Bank Board shall submit to the Committee on Banking, Finance and Urban Affairs of the House of Representatives and the Committee on Banking, Hous-

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12 USC 1437

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 101 STAT. 662

PUBLIC LAW 100-86—AUG. 10, 1987

ing, and Urban Affairs of the Senate, a report containing the findings and conclusions of the Board with respect to the study required under subsection (a), including— (1) the findings and conclusions of the Board concerning the i losses to the insurance fund and the degree to which such losses were the result of direct investment activities with respect to each of the classes of institutions described in subsection (a); and (2) a comparison of the effects of direct investment activities prior to April 16, 1987, and the effect of such activities on or ' after April 16, 1987, for each of the classes of institutions • described in subsection (a) and the losses to the insurance fund as a result of such activities. (c) PRIOR REPORTS TO CONGRESS ON CHANGES TO DIRECT INVESTMENT REGULATIONS.—

(1) IN GENERAL.—Not less than 90 days before final approval is given by the Federal Home Loan Bank Board to any regulation which repeals or modifies (or has the effect of repealing or modifying) any regulation limiting direct investment activities, the Board shall submit to the Committee on Banking, Finance and Urban Affairs of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate a report describing the proposed regulation and the reasons for the proposed regulation, including the effect of such regulation on the insurance fund. (2) PROSPECTIVE APPLICATION OF RULE.—Paragraph (1) shall " not apply with respect to Board Resolution Numbered 87-215 and Board Resolution Numbered 87-215A. (d) DIRECT INVESTMENT ACTIVITY DEFINED.—For purposes of this section, the term "direct investment activities" means activities which are limited under Board Resolution Numbered 87-215 and Board Resolution Numbered 87-215A. 12 USC 3806.

15 USC 1601 note. 15 USC 1640

SEC. 1204. ADJUSTABLE RATE MORTGAGE CAPS.

(a) IN GENERAL.—Any adjustable rate mortgage loan originated by a creditor shall include a limitation on the maximum interest rate that may apply during the term of the mortgage loan. (b) REGULATIONS.—The Board of Governors of the Federal Reserve System shall prescribe regulations to carry out the purposes of this section. (c) ENFORCEMENT.—Any violation of this section shall be treated as a violation of the Truth in Lending Act and shall be subject to administrative enforcement under section 108 or civil damages under section 130 of such Act, or both. (d) DEFINITIONS.—For the purpose of this section— (1) the term "creditor" means a person who regularly extends credit for personal, family, or household purposes; and (2) the term "adjustable rate mortgage loan" means any loan secured by a lien on a one- to four-family dwelling unit, including a condominium unit, cooperative housing unit, or mobile home, where the loan is made pursuant to an agreement under which the creditor may, from time to time, adjust the rate of interest. (e) EFFECTIVE DATE.—This section shall take effect upon the expiration of 120 days after the date of enactment of this Act.

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 PUBLIC LAW 100-86—AUG. 10, 1987

101 STAT. 663

SEC. 1205. SEPARABILITY OF PROVISIONS.

If any provision of this Act or the application thereof to any person or circumstances is held invalid, the remainder of the Act and the application of the provision to other persons not similarly situated or to other circumstances shall not be affected thereby. Approved August 10, 1987.

LEGISLATIVE HISTORY—H.R. 27 (S. 790): HOUSE REPORTS: No. 100-62 (Comm. on Banking, Finance and Urban Affairs) and No. 100-261 (Comm. of Conference). SENATE REPORTS: No. 100-19 accompanying S. 790 (Comm. on Banking, Housing, and Urban Affairs). CONGRESSIONAL RECORD, Vol. 133 (1987): May 5, H.R. 27 considered and passed House. May 14, considered and passed Senate, amended. June 11, House disagreed to Senate amendments. Aug. 3, House agreed to conference report. Aug. 4, Senate agreed to conference report. •WEEKLY COMPILATION OF PRESIDENTIAL DOCUMENTS, Vol. 23 (1987): Aug. 10, Presidential remarks.

12 USC 226 note.

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 101 STAT. 664

PUBLIC LAW 100-87—AUG. 11, 1987

Public Law 100-87 100th Congress Joint Resolution Aug. 11, 1987 [S.J. Res. 121]

Designating August 11, 1987, as "National Neighborhood Crime Watch Day".

Whereas neighborhood crime is of continuing concern to the American people; Whereas the fight against neighborhood crime requires people to work together in cooperation with law enforcement officials; Whereas neighborhood crime watch organizations are effective at promoting awareness about, and the participation of volunteers in, crime prevention activities at the local level; Whereas neighborhood crime watch groups can contribute to the Nation's war on drugs by helping to prevent their communities from becoming markets for drug dealers; Whereas citizens across America will soon take part in a "National Night Out", a unique crime prevention event which will demonstrate the importance and effectiveness of community participation in crime prevention efforts by having people spend the period from 8 to 9 o'clock postmeridian on August 11, 1987, with their neighbors in front of their homes: Now, therefore, be it Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That August 11, 1987, is designated as "National Neighborhood Crime Watch Day", and the President is authorized and requested to issue a proclamation calling upon the people of the United States to observe such day with appropriate programs, ceremonies, and activities. Approved August 11, 1987.

LEGISLATIVE HISTORY—S.J. Res. 121: CONGRESSIONAL RECORD, Vol. 133 (1987): June 25, considered and passed Senate. Aug. 6, considered and passed House.

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 PUBLIC LAW 100-88—AUG. 13, 1987

101 STAT. 665

Public Law 100-88 100th Congress Joint Resolution Designating the month of August 1987 as "National Child Support Enforcement Month".

Aug. 13, 1987 [H.J. Res. 313]

Whereas significant progress has been made toward improving laws and regulations dealing with child support enforcement by the States; Whereas the provisions of part D of title IV of the Social Security Act have provided a needed response in alleviating problems that 42 USC 651. exist within and among States as to legal rights and financial needs of their citizens; Wheregis the child support program's ultimate goal is to reduce financial deprivation among America's children by ensuring that the responsibility of support rests with the responsible parent, thereby diminishing the need for welfare dependency by women and children; Whereas the dedicated service of family support enforcement personnel, the judiciary, and the legal community has contributed to increased child support collections, paternity establishments, and the location of absent parents; and Whereas the growth and success of child support programs have resulted from and continue to rely on increased cooperation of ' Federal, State, and local agencies: Now, therefore, be it Resolved by the Senate and House of Representatives of the United States of America in Congress assembled. That the month of August 1987 is designated as "National Child Support Enforcement Month", and the President is authorized and requested to issue a proclamation calling upon all government agencies and the people of the United States to observe the month with appropriate programs, ceremonies, and activities. Approved August 13, 1987.

LEGISLATIVE HISTORY—H.J. Res. 313: CONGRESSIONAL RECORD, Vol. 133 (1987): Aug. 6, considered and passed House. Aug. 7, considered and passed Senate.

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 101 STAT. 666

PUBLIC LAW 100-89—AUG. 18, 1987

Public Law 100-89 100th Congress An Act Aug. 18, 1987 [H.R. 318]

To provide for the restoration of the Federal trust relationship and Federal services and assistance to the Ysleta del Sur Pueblo and the Alabama and Coushatta Indian Tribes of Texas, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

Ysleta del Sur Pueblo and Alabama and SECTION 1. SHORT TITLE. Coushatta This Act may be cited as the "Ysleta del Sur Pueblo and Indian Tribes of Texas and Coushatta Indian Tribes of Texas Restoration Act". Restoration Act. >'' 25 USC 731 note. SEC. 2. REGULATIONS. 25 USC 731 note.

Alabama

The Secretary of the Interior or his designated representative may promulgate such regulations as may be necessary to carry out the provisions of this Act.

TITLE I—YSLETA DEL SUR PUEBLO RESTORATION 25 USC 1300g.

SEC. 101. DEFINITIONS.

For purposes of this title— (1) the term "tribe" means the Ysleta del Sur Pueblo (as so designated by section 102); (2) the term "Secretary" means the Secretary of the Interior or his designated representative; (3) the term "reservation" means lands within El Paso and Hudspeth Counties, Texas— (A) held by the tribe on the date of the enactment of this title; (B) held in trust by the State or by the Texas Indian Commission for the benefit of the tribe on such date; (C) held in trust for the benefit of the tribe by the Secretary under section 105(g)(2); and (D) subsequently acquired and held in trust by the Secretary for the benefit of the tribe. (4) the term "State" means the State of Texas; (5) the term "Tribal C!ouncil" means the governing body of the tribe as recognized by the Texas Indian Commission on the date of enactment of this Act, and such tribal council's successors; and (6) the term "Tiwa Indians Act" means the Act entitled "An Act relating to the Tiwa Indians of Texas." and approved April 12, 1968 (82 Stat. 93). 25 USC 1300g-l.

SEC. 102. REDESIGNATION OF TRIBE.

The Indians designated as the Tiwa Indians of Ysleta, Texas, by the Tiwa Indians Act shall, on and after the date of the enactment of this title, be known and designated as the Ysleta del Sur Pueblo.

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 PUBLIC LAW 100-89—AUG. 18, 1987

101 STAT. 667

Any reference in any law, map, regulation, document, record, or other paper of the United States to the Tiwa Indians of Ysleta, Texas, shall be deemed to be a reference to the Ysleta del Sur Pueblo. SEC. 103. RESTORATION OF THE FEDERAL TRUST RELATIONSHIP; FEDERAL SERVICES AND ASSISTANCE.

25 USC 1300g-2.

(a) FEDERAL TRUST RELATIONSHIP.—The Federal trust relationship between the United States and the tribe is hereby restored. The Act of June 18, 1934 (48 Stat. 984), as amended, and all laws and rules of 25 USC 461. law of the United States of general application to Indians, to nations, tribes, or bands of Indians, or to Indian reservations which are not inconsistent with any specific provision contained in this title shall apply to the members of the tribe, the tribe, and the reservation. (b) RESTORATION OF RIGHTS AND PRIVILEGES.—All rights and privi-

leges of the tribe and members of the tribe under any Federal treaty, statute. Executive order, agreement, or under any other authority of the United States which may have been diminished or lost under the Tiwa Indians Act are hereby restored. (c) FEDERAL SERVICES AND BENEFITS.—Notwithstanding any other provision of law, the tribe and the members of the tribe shall be eligible, on and after the date of the enactment of this title, for all benefits and services furnished to federally recognized Indian tribes. (d) EFFECT ON PROPERTY RIGHTS AND OTHER OBLIGATIONS.—Except

as otherwise specifically provided in this title, the enactment of this title shall not affect any property right or obligation or any contractual right or obligation in existence before the date of the enactment of this title or any obligation for taxes levied before such date. SEC. 104. STATE AND TRIBAL AUTHORITY.

(a) STATE AUTHORITY.—Nothing in this Act shall affect the power of the State of Texas to enact special legislation benefiting the tribe, and the State is authorized to perform any services benefiting the tribe that are not inconsistent with the provisions of this Act. (b) TRIBAL AUTHORITY.—The Tribal Council shall represent the tribe and its members in the implementation of this title and shall have full authority and capacity— (1) to enter into contracts, grant agreements, and other arrangements with any Federal department or agency, and (2) to administer or operate any program or activity under or • in connection with any such contract, agreement, or arrangement, to enter into subcontracts or award grants to provide for the administration of any such program or activity, or to conduct any other activity under or in connection with any such contract, agreement, or arrangement. SEC. 105. PROVISIONS RELATING TO TRIBAL RESERVATION.

(a) FEDERAL RESERVATION ESTABLISHED.—The reservation is hereby declared to be a Federal Indian reservation for the use and benefit of the tribe without regard to whether legal title to such lands is held in trust by the Secretary. (b) CONVEYANCE OF LAND BY STATE.—The Secretary shall—

(1) accept any offer from the State to convey title to any land within the reservation held in trust on the date of enactment of this Act by the State or by the Texas Indian Commission for the benefit of the tribe to the Secretary, and

25 USC 1300g-3.

Contracts. Grants.

25 USC 1300g-4.

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 101 STAT. 668

PUBLIC LAW 100-89—AUG. 18, 1987 (2) hold such title, upon conveyance by the State, in trust for the benefit of the tribe. (c) CONVEYANCE OF LAND BY TRIBE.—At the written request of the

Tribal Council, the Secretary shall— (1) accept conveyance by the tribe of title to any land within '• the reservation held by the tribe on the date of enactment of this Act to the Secretary, and « (2) hold such title, upon such conveyance by the tribe, in trust for the benefit of the tribe. f!j

/

(d) APPROVAL OF DEED BY ATTORNEY GENERAL.—Notwithstanding

any other provision of law or regulation, the Attorney General of the United States shall approve any deed or other instrument which conveys title to land within El Paso or Hudspeth Counties, Texas, to the United States to be held in trust by the Secretary for the benefit of the tribe. (e) PERMANENT IMPROVEMENTS

AUTHORIZED.—Notwithstanding

any other provision of law or rule of law, the Secretary or the tribe may erect permanent improvements, improvements of substantial value, or any other improvement authorized by law on the reservation without regard to whether legal title to such lands has been conveyed to the Secretary by the State or the tribe. (f) CIVIL AND CRIMINAL JURISDICTION WITHIN RESERVATION.—The

State shall exercise civil and criminal jurisdiction within the boundaries of the reservation as if such State had assumed such jurisdiction with the consent of the tribe under sections 401 and 402 of the Act entitled "An Act to prescribe penalties for certain acts of violence or intimidation, and for other purposes." and approved April 11, 1968 (25 U.S.C. 1321, 1322). (g) ACQUISITION OF LAND BY THE TRIBE AFTER ENACTMENT.—

(1) Notwithstanding any other provision of law, the Tribal Council may, on behalf of the tribe— (A) acquire land located within El Paso County, or Hudspeth County, Texas, after the date of enactment of this ., > Act and take title to such land in fee simple, and

(B) lease, sell, or otherwise dispose of such land in the same manner in which a private person may do so under the laws of the State. (2) At the written request of the Tribal Council, the Secretary may— .,t, (A) accept conveyance to the Secretary by the Tribal Council (on behalf of the tribe) of title to any land located ..r within El Paso County, or Hudspeth County, Texas, that is, [ acquired by the Tribal Council in fee simple after the date ,, of enactment of this Act, and ,^' (B) hold such title, upon such conveyance by the Tribal Council, in trust for the benefit of the tribe. 25 USC 1300g-5. SEC. 106. TIWA INDIANS ACT REPEALED. 82 Stat. 93. The Tiwa Indians Act is hereby repealed. 25 USC 1300g-6.

SEC. 107. GAMING ACTIVITIES. • .' (a) IN GENERAL.—All gaming activities which are prohibited by the laws of the State of Texas are hereby prohibited on the reservation and on lands of the tribe. Any violation of the prohibition provided in this subsection shall be subject to the same civil and criminal penalties that are provided by the laws of the State of Texas. The provisions of this subsection are enacted in accordance

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 PUBLIC LAW 100-89—AUG. 18, 1987

101 STAT. 669

with the tribe's request in Tribal Resolution No. T.C.-02-86 which was approved and certified on March 12, 1986. (b) No STATE REGULATORY JURISDICTION.—Nothing in this section shall be construed as a grant of civil or criminal regulatory jurisdiction to the State of Texas. (c) JURISDICTION OVER ENFORCEMENT AGAINST MEMBERS.—Not-

withstanding section 105(f), the courts of the United States shall have exclusive jurisdiction over any offense in violation of subsection (a) that is committed by the tribe, or by any member of the tribe, on the reservation or on lands of the tribe. However, nothing in this section shall be construed as precluding the State of Texas from bringing an action in the courts of the United States to enjoin violations of the provisions of this section. SEC. 108. TRIBAL MEMBERSHIP.

(a) IN GENERAL.—The membership of the tribe shall consist of— (1) the individuals listed on the Tribal Membership Roll approved by the tribe's Resolution No. TC-5-84 approved December 18, 1984, and approved by the Texeis Indian Commission's Resolution No. TIC-85-005 adopted on January 16, 1985; and (2) a descendant of an individual listed on that Roll if the descendant— (i) has VB degree or more of Tigua-Ysleta del Sur Pueblo Indian blood, and (ii) is enrolled by the tribe. (h) REMOVAL FROM TRIBAL ROLL.—Notwithstanding subsection (a)(1) the tribe may remove an individual from tribal membership if it determines that the individual's enrollment was improper; and (2) the Secretary, in consultation with the tribe, may review the Tribal Membership Roll.

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,

,

25 USC 1300g-7.

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TITLE II—ALABAMA AND COUSHATTA INDIAN TRIBES OF TEXAS SEC. 201. DEFINITIONS.

For purposes of this title— (1) the term "tribe" means the Alabama and Coushatta Indian Tribes of Texas (considered as one tribe in accordance with section 202); (2) the term "Secretary" means the Secretary of the Interior or his designated representative; (3) the term "reservation" means the Alabama and Coushatta Indian Reservation in Polk County, Texas, comprised of— (A) the lands and other natural resources conveyed to the State of Texas by the Secretary pursuant to the provisions of section 1 of the Act entitled An Act to provide for the termination of Federal supervision over the property of the Alabama and Coushatta Tribes of Indians of Texas, and the individual members thereof; and for other purposes." and approved August 23, 1954 (25 U.S.C. 721); (B) the lands and other natural resources purchased for and deeded to the Alabama Indians in accordance with an

25 USC 731.

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