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Public Law 111-203 including PTFA amendments

Page 162

Public Law 111-203 including PTFA amendments · 2026-09-26 edition · updated 2026-09-27 · California

relating to property transferred to the Office of the Comptroller of the Currency or the Corporation by this section shall be trans- ferred to the Office of the Comptroller of the Currency or the Corporation, as appropriate, together with the property to which it relates. (d) PRESERVATION OF PROPERTY.—Property identified for transfer under this section shall not be altered, destroyed, or deleted before transfer under this section.

12 USC 5434. SEC. 324. FUNDS TRANSFERRED.
The funds that, on the day before the transfer date, the Director
of the Office of Thrift Supervision (in consultation with the Comp-
troller of the Currency, the Chairperson of the Corporation, and
the Chairman of the Board of Governors) determines are not nec-
essary to dispose of the affairs of the Office of Thrift Supervision
under section 325 and are available to the Office of Thrift Super-
vision to pay the expenses of the Office of Thrift Supervision—
(1) relating to the functions of the Office of Thrift Super-
vision transferred under section 312(b)(2)(B), shall be trans-
ferred to the Office of the Comptroller of the Currency on
the transfer date;
(2) relating to the functions of the Office of Thrift Super-
vision transferred under section 312(b)(2)(C), shall be trans-
ferred to the Corporation on the transfer date; and
(3) relating to the functions of the Office of Thrift Super-
vision transferred under section 312(b)(1)(A), shall be trans-
ferred to the Board of Governors on the transfer date.

Time periods. SEC. 325. DISPOSITION OF AFFAIRS.
12 USC 5435.
(a) AUTHORITY OF DIRECTOR.—During the 90-day period begin-
ning on the transfer date, the Director of the Office of Thrift
Supervision—
(1) shall, solely for the purpose of winding up the affairs
of the Office of Thrift Supervision relating to any function
transferred to the Office of the Comptroller of the Currency,
the Corporation, or the Board of Governors under this title—
(A) manage the employees of the Office of Thrift Super-
vision who have not yet been transferred and provide for
the payment of the compensation and benefits of the
employees that accrue before the date on which the
employees are transferred under this title; and
(B) manage any property of the Office of Thrift Super-
vision, until the date on which the property is transferred
under section 323; and
(2) may take any other action necessary to wind up the
affairs of the Office of Thrift Supervision.
(b) STATUS OF DIRECTOR.—
(1) IN GENERAL.—Notwithstanding the transfer of functions
under this subtitle, during the 90-day period beginning on
the transfer date, the Director of the Office of Thrift Supervision
shall retain and may exercise any authority vested in the
Director of the Office of Thrift Supervision on the day before
the transfer date, only to the extent necessary—

LAWS (A) to wind up the Office of Thrift Supervision; and (B) to carry out the transfer under this subtitle during such 90-day period.PUBLIC with on anorris VerDate Nov 24 2008 16:32 Sep 08, 2010 Jkt 089139 PO 00203 Frm 00162 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL203.111 PUBL203

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▸Contents — Public Law 111-203 including PTFA amendments

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