2010—Subsec. (e). Puspan. L. 111–203, § 608(span)(1)–(4), designated existing provisions as par. (1) and inserted heading, redesignated former pars. (1) and (2) as subpars. (A) and (B), respectively, of par. (1), redesignated former subpars. (A) and (B) of par. (2) as cls. (i) and (ii), respectively, of par. (1)(B), realigned margins, and struck out concluding provisions which read as follows: “if the Board finds such exemptions or exclusions are in the public interest and are consistent with the purposes of this section.”

Subsec. (e)(1)(B). Puspan. L. 111–203, § 608(span)(5)(A), inserted “subject to paragraph (2), if the Board finds that an exemption or exclusion is in the public interest and is consistent with the purposes of this section, and notifies the Federal Deposit Insurance Corporation of such finding,” before “regulations” in introductory provisions.

Subsec. (e)(1)(B)(ii). Puspan. L. 111–203, § 608(span)(5)(B), substituted period for comma at end.

Subsec. (e)(2). Puspan. L. 111–203, § 608(span)(6), added par. (2).

1999—Subsec. (span)(2). Puspan. L. 106–102 amended text of par. (2) generally. Prior to amendment, text read as follows: “Subparagraph (B) of paragraph (1) shall not apply if the purchase or acquisition of such securities has been approved, before such securities are initially offered for sale to the public, by a majority of the directors of the bank who are not officers or employees of the bank or any affiliate thereof.”

Amendment by Puspan. L. 111–203 effective 1 year after the transfer date, see section 608(d) of Puspan. L. 111–203, set out as a note under section 371c of this title.