Regulations to carry out this chapter, including regulations that permit service by a management official that would otherwise be prohibited by section 3202 of this title or section 3203 of this title, if such service would not result in a monopoly or substantial lessening of competition, may be prescribed by—

(1) the Comptroller of the Currency with respect to national banks,

(2) the Board of Governors of the Federal Reserve System with respect to State banks which are members of the Federal Reserve System, and bank holding companies,

(3) the Board of Directors of the Federal Deposit Insurance Corporation with respect to State banks which are not members of the Federal Reserve System but the deposits of which are insured by the Federal Deposit Insurance Corporation,

(4) the Director of the Office of Thrift Supervision with respect to institutions the accounts of which are insured by the Federal Deposit Insurance Corporation, and savings and loan holding companies, and

(5) the National Credit Union Administration with respect to credit unions the accounts of which are insured by the National Credit Union Administration.

(Pub. L. 95–630, title II, §209, Nov. 10, 1978, 92 Stat. 3675; Pub. L. 103–325, title III, §338(b), Sept. 23, 1994, 108 Stat. 2236; Pub. L. 104–208, div. A, title II, §2210(c), Sept. 30, 1996, 110 Stat. 3009–410; Pub. L. 108–386, §8(e)(2), Oct. 30, 2004, 118 Stat. 2232; Pub. L. 111–203, title III, §360(2), July 21, 2010, 124 Stat. 1549.)

Pub. L. 111–203, title III, §§351, 360(2), July 21, 2010, 124 Stat. 1546, 1549, provided that, effective on the transfer date, this section is amended:

(1) in paragraph (1), by inserting “and Federal savings associations (the deposits of which are insured by the Federal Deposit Insurance Corporation)” before the comma at the end;

(2) in paragraph (2), by substituting “, bank holding companies, and savings and loan holding companies” for “, and bank holding companies”;

(3) in paragraph (3), by substituting “Corporation and State savings associations (the deposits of which are insured by the Federal Deposit Insurance Corporation),” for “Corporation,”;

(4) by striking out paragraph (4);

(5) by redesignating paragraph (5) as (4); and

(6) in paragraph (5), as so redesignated, by substituting “through (4)” for “through (5)”.

See Effective Date of 2010 Amendment note below.

**2004**—Par. (1). Pub. L. 108–386 struck out “and banks located in the District of Columbia” after “national banks”.

**1996**—Pub. L. 104–208 redesignated subsec. (a) as entire section, in introductory provisions, substituted “Regulations” for “Rules and regulations” and inserted “, including regulations that permit service by a management official that would otherwise be prohibited by section 3202 of this title or section 3203 of this title, if such service would not result in a monopoly or substantial lessening of competition,” after “chapter”, in par. (4), substituted “Director of the Office of Thrift Supervision” for “Federal Home Loan Bank Board” and “Federal Deposit Insurance Corporation” for “Federal Savings and Loan Insurance Corporation”, and struck out subsecs. (b) and (c), which related to regulatory standards, and to limited exception for management official consignment program, respectively.

**1994**—Pub. L. 103–325 designated existing provisions as subsec. (a), inserted heading, struck out “, including rules or regulations which permit service by a management official which would otherwise be prohibited by section 3202 or section 3203 of this title,” after “Rules and regulations to carry out this chapter” in introductory provisions, and added subsecs. (b) and (c).

Amendment by Pub. L. 111–203 effective on the transfer date, see section 351 of Pub. L. 111–203, set out as a note under section 906 of Title 2, The Congress.

Amendment by Pub. L. 108–386 effective Oct. 30, 2004, and, except as otherwise provided, applicable with respect to fiscal year 2005 and each succeeding fiscal year, see sections 8(i) and 9 of Pub. L. 108–386, set out as notes under section 321 of this title.