[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 1812 Introduced in Senate (IS)]







108th CONGRESS
  1st Session
                                S. 1812

   To amend the Home Owners' Loan Act to clarify the citizenship of 
      Federal savings associations for purposes of Federal court 
                             jurisdiction.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            November 3, 2003

 Ms. Cantwell introduced the following bill; which was read twice and 
    referred to the Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
   To amend the Home Owners' Loan Act to clarify the citizenship of 
      Federal savings associations for purposes of Federal court 
                             jurisdiction.

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

SECTION 1. CITIZENSHIP OF FEDERAL SAVINGS ASSOCIATIONS FOR JURISDICTION 
              PURPOSES.

    Section 5 of the Home Owners' Loan Act (12 U.S.C. 1464) is amended 
by adding at the end the following new subsection:
    ``(x) Home State Citizenship.--In determining whether a Federal 
court has diversity jurisdiction over a case in which a Federal savings 
association is a party, the Federal savings association shall be 
considered to be a citizen only of the State in which such savings 
association has its main office.''.
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