Sec. 9. (a) If federal law requires a savings association or savings association holding company to submit an application to a federal agency before an acquisition under this chapter, the savings association or savings association holding company must comply with federal law and file with the department:

(1) a copy of all papers filed with the federal agency; and

(2) when issued, a copy of the approval or other action taken by the federal agency regarding the application.

     (b) For purposes of an acquisition under this chapter, compliance with federal law requiring the submission and approval of a permit authorizing the acquisition constitutes compliance with the requirements of this chapter.

As added by P.L.193-1997, SEC.2.