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U.S. Code as of:
01/19/04
Section 1831h. Savings Association Insurance Fund Industry Advisory Committee
(a) Establishment
There is hereby established the Savings Association Insurance
Fund Industry Advisory Committee (hereinafter referred to in this
section as the "Committee").
(b) Membership
The Committee shall consist of 18 members, appointed as follows:
(1) 1 member elected from each Federal home loan bank district
(by the members of the board of directors of each such bank who
were elected by the members of such bank) from among individuals
residing therein who are officers of insured depository
institutions that are Savings Association Insurance Fund members.
(2) 6 members appointed by the Corporation from among
individuals who shall represent the public interest.
(c) Vacancies
Any vacancy on the Committee shall be filled in the same manner
in which the original appointment was made.
(d) Pay and expenses
Members of the Committee shall serve without pay, but each member
shall be reimbursed, in such manner as the Corporation shall
prescribe by regulation, for expenses incurred in connection with
attendance of such members at meetings of the Committee.
(e) Terms
Members shall be appointed or elected for terms of 1 year.
(f) Authority of Committee
The Committee may select its Chairperson, Vice Chairperson, and
Secretary, and adopt methods of procedure, and shall have power -
(1) to confer with the Board of Directors on general and
special business conditions and regulatory and other matters
affecting insured financial institutions that are members of the
Savings Association Insurance Fund; and
(2) to request information, and to make recommendations, with
respect to matters within the jurisdiction of the Corporation.
(g) Meetings
The Committee shall meet 4 times each year, and more frequently
if requested by the Corporation.
(h) Reports
The Committee shall submit a semiannual written report to the
Committee on Banking, Finance and Urban Affairs of the House and to
the Committee on Banking, Housing, and Urban Affairs of the Senate.
Such report shall describe the activities of the Committee for such
semiannual period and contain such recommendations as the Committee
considers appropriate.
(i) Provision of staff and other resources
The Corporation shall provide the Committee with the use of such
resources, including staff, as the Committee reasonably shall
require to carry out its duties, including the preparation and
submission of reports to Congress, under this section.
(j) Federal Advisory Committee Act does not apply
The Federal Advisory Committee Act shall not apply to the
Committee.
(k) Sunset
The Committee shall cease to exist 10 years after August 9, 1989.
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