§ 3501 to 3509. — Omitted.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC3501]
TITLE 12--BANKS AND BANKING
CHAPTER 36--DEPOSITORY INSTITUTIONS DEREGULATION AND FINANCIAL
REGULATION SIMPLIFICATION
SUBCHAPTER I--DEPOSITORY INSTITUTIONS DEREGULATION
Secs. 3501 to 3509. Omitted
Codification
Sections 3501 to 3509, which provided for creation and operation of
Depository Institutions Deregulation Committee, were omitted pursuant to
section 3509 which provided that the Committee and all authorities
transferred to the Committee ceased to exist on expiration of six years
after Mar. 31, 1980.
Section 3501, Pub. L. 96-221, title II, Sec. 202, Mar. 31, 1980, 94
Stat. 142, set out congressional findings and stated that the purpose in
enacting this subchapter was to provide for orderly phase-out and
ultimate elimination of limitations on maximum rates of interest and
dividends which could be paid on deposits and accounts by depository
institutions.
Pub. L. 96-221, title II, Sec. 201, Mar. 31, 1980, 94 Stat. 142,
provided that title II of Pub. L. 96-221 (subchapter I of this chapter)
could be cited as the ``Depository Institutions Deregulation Act of
1980''.
Pub. L. 96-221, title VIII, Sec. 801, Mar. 31, 1980, 94 Stat. 191,
provided that title VIII of Pub. L. 96-221 (subchapter II of this
chapter) could be cited as the ``Financial Regulation Simplification Act
of 1980'', prior to repeal (effective 5 years after the date of
enactment) by Pub. L. 96-221, title VIII, Sec. 806, Mar. 31, 1980, 94
Stat. 192.
Section 3502, Pub. L. 96-221, title II, Sec. 203, Mar. 31, 1980, 94
Stat. 142, provided for membership and authority of Depository
Institutions Deregulation Committee.
Section 3503, Pub. L. 96-221, title II, Sec. 204, Mar. 31, 1980, 94
Stat. 143; Pub. L. 97-320, title III, Sec. 327, Oct. 15, 1982, 96 Stat.
1501; Pub. L. 97-457, Sec. 13, Jan. 12, 1983, 96 Stat. 2508, provided
for phase-out and elimination of limitations, and gradual increases in
maximum rates of interest and dividends paid on deposits and accounts.
Section 3504, Pub. L. 96-221, title II, Sec. 205, Mar. 31, 1980, 94
Stat. 143, set voting requirements respecting targets for limitations on
maximum rates of interest and dividends paid on deposits and accounts
and phase-out of interest rate controls.
Section 3505, Pub. L. 96-221, title II, Sec. 206, Mar. 31, 1980, 94
Stat. 143, set out the reporting requirements for individual members of
Deregulation Committee.
Section 3506, Pub. L. 96-221, title II, Sec. 207, Mar. 31, 1980, 94
Stat. 144, provided for repeal of related statutory authorities.
Section 3507, Pub. L. 96-221, title II, Sec. 208, Mar. 31, 1980, 94
Stat. 144; Pub. L. 101-73, title VII, Sec. 744(s), Aug. 9, 1989, 103
Stat. 440, set the procedures applicable for enforcement of regulations.
Section 3508, Pub. L. 96-221, title II, Sec. 209, Mar. 31, 1980, 94
Stat. 145, provided for transitional application of rules and
regulations issued pursuant to transferred statutory authorities.
Section 3509, Pub. L. 96-221, title II, Sec. 210, Mar. 31, 1980, 94
Stat. 145, directed that, on the expiration of six years after Mar. 31,
1980, all authorities transferred to Deregulation Committee by this
subchapter would cease to be effective and Deregulation Committee would
cease to exist.
