
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC595]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
                        Subtitle A--Income Taxes
 
                  CHAPTER 1--NORMAL TAXES AND SURTAXES
 
                   Subchapter H--Banking Institutions
 
                   PART II--MUTUAL SAVINGS BANKS, ETC.
 
[Secs. 595, 596. Repealed. Pub. L. 104-188, title I, 
        Sec. 1616(b)(8), (9), Aug. 20, 1996, 110 Stat. 1857]
        
    Section 595, added Pub. L. 87-834, Sec. 6(b), Oct. 16, 1962, 76 
Stat. 982; amended Pub. L. 94-455, title XIX, Sec. 1906(b)(13)(A), Oct. 
4, 1976, 90 Stat. 1834, related to foreclosure on property securing 
loans, including provisions relating to nonrecognition of gain or loss 
as result of foreclosure, character of property, basis, and regulatory 
authority.
    Section 596, added Pub. L. 91-172, title IV, Sec. 434(a), Dec. 30, 
1969, 83 Stat. 624; amended Pub. L. 99-514, title IX, Sec. 901(d)(4)(D), 
Oct. 22, 1986, 100 Stat. 2380, provided that in case of organization to 
which section 593 of this title applied and which computed additions to 
reserve for losses on loans for taxable year under section 593(b)(2) of 
this title, total amount allowed under sections 243, 244, and 245 of 
this title for taxable year as deduction with respect to dividends 
received was to be reduced by amount equal to 8 percent of such total 
amount.


                        Effective Date of Repeal

    Repeal of section 595 applicable to property acquired in taxable 
years beginning after Dec. 31, 1995, and repeal of section 596 
applicable to taxable years beginning after Dec. 31, 1995, see section 
1616(c)(1), (3) of Pub. L. 104-188, set out as an Effective Date of 1996 
Amendment note under section 593 of this title.
