,i  #aaeth ,,congress  #ast ,session    
,h4 ,r4 #deag  ,,in ,,the ,,house ,,of  
,,representatives  ,december #a1        
#bjag,mr4 ,faso 7for himself1 ,mr4      
,collins of ,new ,york1 and ,mr4        
,stivers7 introduced the following bill2
 which was referred to the ,committee on
 ,financial ,services  ,a ,,bill  ,to   
amend the ,home ,owners' ,loan ,act to  
allow mutual holding companies to       
clarify requirements related to the     
waiver of dividends1 and for other      
purposes4  #a4 ,dividend waiver         
authority for mutual holding companies  
,section #aj7o77#aa7 of the ,home       
,owners' ,loan ,act 7#ab ,u4,s4,c4      
#adfg;a7o77#aa77 is amended-- 7#a7 in   
subparagraph 7,d7--  7,a7 in clause 7i71
 by adding and at the end2  7,b7 in     
clause 7ii71 by striking 2 and and      
inserting a period2 and  7,c7 by        
striking clause 7iii72  7#b7 by amending
 subparagraph 7,e7 to read as follows3  
7,e7 ,valuation ,the appropriate        
,federal banking agency may not consider

 waived dividends in determining an     
appropriate exchange ratio in the event 
of a full conversion to stock form4  2  
and  7#c7 by adding at the end the      
following new subparagraph3  7,f7 ,rule 
of construction ,nothing in this        
paragraph shall be construed to         
authorize the appropriate ,federal      
banking agency to require a vote of     
members of a mutual holding company to  
approve one or more dividend waivers or 
to place any additional restrictions on 
dividend waivers by mutual holding      
companies that are inconsistent with or 
exceed the requirements set forth in    
this paragraph4  4