,i  #aafth ,,congress  #ast ,session    
,h4 ,r4 #dbfg  ,,in ,,the ,,house ,,of  
,,representatives  ,september #aj1      
#bjai,mr4 ,watkins 7for himself and ,ms4
 ,davids of ,kansas7 introduced the     
following bill2 which was referred to   
the ,committee on ,financial ,services  
,a ,,bill  ,to amend the ,federal       
,deposit ,insurance ,act with respect to
 shareholder claims arising from the    
appointment of a conservator or receiver
 for certain depository institutions1   
and for other purposes4  #a4 ,short     
title ,this ,act may be cited as the    
,independent and ,community ,bank       
,shareholders ,protection ,act4  #b4    
,shareholder claims  7a7 ,in general    
,section #aa7;d7 of the ,federal        
,deposit ,insurance ,act 7#ab ,u4,s4,c4 
#ahba7;d77 is amended by adding at the  
end the following3  7#ba7 ,shareholder  
claims for just compensation  7,a7      
,claims authorized  7i7 ,in general ,a  
shareholder of a covered institution may
 file a claim with the ,corporation for 

just compensation to be paid by the     
,corporation to the shareholder4  7ii7  
,holding companies ,a shareholder of a  
depository institution holding company  
may file a claim authorized by this     
subparagraph on behalf of such company  
with respect to a covered institution4  
7,b7 ,amount to be paid ,just           
compensation shall be paid to a         
shareholder in an amount equal to the   
pro-rata share of the shareholder of the
 net worth of the covered institution   
according to generally accepted         
accounting principles determined as of  
the date on which the covered           
institution enters conservatorship or   
receivership1 whichever occurs first4   
7,c7 ,limitation on payment of claims   
,the ,corporation shall not pay a claim 
under subparagraph 7,a7 if--  7i7 the   
covered institution is determined by the
 final judgment of a court of competent 
jurisdiction to have been insolvent as  
of the date on which control of the     
covered institution passed from its     

shareholders to the ,corporation2 or    
7ii7 the administrative expenses of the 
,corporation arising from the           
appointment of a conservator or receiver
 for the covered institution exceed     
available funds from the covered        
institution4  7,d7 ,statute of          
limitations ,the applicable statute of  
limitations with regard to a claim      
brought by a shareholder under          
subparagraph 7,a7 shall be #ij days     
beginning on the date that a conservator
 or receiver is appointed for the       
covered institution pursuant to this    
,act4  7,e7 ,covered institution defined
 ,in this paragraph1 the term covered   
institution means a depository          
institution--  7i7 for which the        
,corporation has appointed a conservator
 or receiver2 and  7ii7 that has total  
assets of less than #ae1jjj1jjj1jjj as  
of the date on which the institution    
enters conservatorship or receivership4 
4  7b7 ,savings association shareholders
 ,the rights provided to a shareholder  

under section #aa7;d77#ba7 of the       
,federal ,deposit ,insurance ,act1 as   
added by this ,act1 shall apply in the  
same manner and to the same extent to-- 
7#a7 a shareholder of a savings         
association for which the ,office of    
,thrift ,supervision appointed a        
conservator or receiver2 and  7#b7 a    
shareholder of a savings and loan       
holding company on behalf of such       
holding company with respect to a       
savings association for which the       
,office appointed a conservator or      
receiver4  7c7 ,special rules  7#a7     
,statute of limitations for claims      
arising from actions prior to this ,act 
,the statute of limitations for a claim 
filed under this ,act1 or an amendment  
made by this ,act1 with respect to the  
appointment of a conservator or receiver
 for a covered institution or savings   
association occurring prior to the date 
of enactment of this ,act shall be #ij  
days beginning on such date of          
enactment4  7#b7 ,prior claims ,a       

shareholder shall not be precluded from 
filing a claim under this ,act1 or an   
amendment made by this ,act1 if a claim 
with respect to the same conservatorship
 or receivership has been previously    
adjudicated before a court of competent 
jurisdiction4  7#c7 ,united ,states     
,court of ,federal ,claims ,a           
shareholder may seek review of a denial 
by the ,federal ,deposit ,insurance     
,corporation of a claim filed under this
 ,act in the ,united ,states ,court of  
,federal ,claims4  7d7 ,definitions ,in 
this section3 7#a7 ,covered institution 
,the term covered institution has the   
meaning given that term in section      
#aa7;d77#ba7 of the ,federal ,deposit   
,insurance ,act 7as added by this ,act74
  7#b7 ,savings association ,the term   
savings association has the meaning     
given that term in section #c of the    
,federal ,deposit ,insurance ,act 7#ab  
,u4,s4,c4 #ahac74  7#c7 ,savings and    
loan holding company ,the term savings  
and loan holding company has the meaning

 given that term in section #aj of the  
,home ,owners' ,loan ,act 7#ab ,u4,s4,c4
 #adfg;a74