,,ii  #aadth ,,congress  #ast ,session  
,s4 #gih  ,,in ,,the ,,senate ,,of ,,the
 ,,united ,,states  ,march #ai1         
#bjae,mr4 ,vitter 7for himself and ,mr4 
,tester7 introduced the following bill2 
which was read twice and referred to the
 ,committee on ,banking1 ,housing1 and  
,urban ,affairs  ,a ,,bill  ,to provide 
for notice to1 and input by1 ,state     
insurance commissioners when requiring  
an insurance company to serve as a      
source of financial strength or when the
 ,federal ,deposit ,insurance           
,corporation places a lien against an   
insurance company's assets1 and for     
other purposes4  #a4 ,short title ,this 
,act may be cited as the ,policyholder  
,protection ,act of #bjae4  #b4 ,source 
of strength ,section #ch;,a of the      
,federal ,deposit ,insurance ,act 7#ab  
,u4,s4,c4 #ahcao-#a7 is amended--  7#a7 
by redesignating subsections 7c71 7d71  
and 7e7 as subsections 7d71 7e71 and    
7f71 respectively2 and  7#b7 by         
inserting after subsection 7b7 the      

following3  7c7 ,authority of ,state    
,insurance ,regulator  7#a7 ,in general 
,the provisions of section #e7;g7 of the
 ,bank ,holding ,company ,act of #aief  
7#ab ,u4,s4,c4 #ahdd7;g77 shall apply to
 a savings and loan holding company that
 is an insurance company1 an affiliate  
of an insured depository institution    
that is an insurance company1 and to any
 other company that is an insurance     
company and that directly or indirectly 
controls an insured depository          
institution1 to the same extent as such 
section #e7;g7 applies to a bank holding
 company that is an insurance company4  
7#b7 ,rule of construction ,requiring a 
bank holding company that is an         
insurance company1 a savings and loan   
holding company that is an insurance    
company1 an affiliate of an insured     
depository institution that is an       
insurance company1 or any other company 
that is an insurance company and that   
directly or indirectly controls an      
insured depository institution to serve 

as a source of financial strength under 
this section shall be deemed an action  
of the ,board that requires a bank      
holding company to provide funds or     
other assets to a subsidiary depository 
institution for purposes of such section
 #e7;g74  4  #c4 ,liquidation authority 
,the ,dodd-,frank ,wall ,street ,reform 
and ,consumer ,protection ,act 7#ab     
,u4,s4,c4 #ecja et seq47 is amended--   
7#a7 in section #bjc7;e77#c71 by        
inserting or rehabilitation after       
orderly liquidation each place such term
 appears2 and  7#b7 in section          
#bjd7;d77#d71 by inserting before the   
semicolon the following3 1 except that1 
if the covered financial company or     
covered subsidiary is an insurance      
company or a subsidiary of an insurance 
company1 the ,corporation-- 7,a7 shall  
promptly notify the ,state insurance    
authority for the insurance company of  
the intention to take such lien2 and    
7,b7 may not take such lien if the      
,state insurance authority notified     

under subparagraph 7,a7 informs the     
,corporation1 in writing1 within #ae    
days of such notice1 that the taking of 
the lien on the assets of such company  
would have a materially adverse effect  
on the policyholders of such company  4