§ 1814. Insured depository institutions

• (a)
  • (1) Each bank, which is an insured depository institution on September 21, 1950 , shall be and continue to be, without application or approval, an insured depository institution and shall be subject to the provisions of this chapter.
  • (2) Each savings association the accounts of which were insured by the Federal Savings and Loan Insurance Corporation on the day before August 9, 1989 , shall be, without application or approval, an insured depository institution.
• (b) In the case of an insured bank which is admitted to membership in the Federal Reserve System or an insured State bank which is converted into a national member bank, the bank shall continue as an insured bank.
• (c) Subject to section 1815(d) of this title and section 1464(i)(5) of this title —
  • (1) any State depository institution which results from the conversion of any insured Federal depository institution; and
  • (2) any Federal depository institution which results from the conversion of any insured State or Federal depository institution,
• (d) Any State depository institution or any Federal depository institution which results from the merger or consolidation of insured depository institutions, or from the merger or consolidation of a noninsured depository institution with an insured depository institution, shall continue as an insured depository institution.