Federal Asset Disposition Association Dissolution Act

[AI summary unavailable — showing source text] Federal Asset Disposition Association Dissolution Act - Amends the National Housing Act to specify that the purpose of the establishment of a new savings and loan association in connection with a liquidation is for such association to operate as an issuer of savings accounts and a lender and investor and not as an institution having the special purpose of managing or disposing of assets acquired from insured institutions in default. Specifies that provisions of the National Housing Act shall not be construed as authorizing the Federal Savings and Loan Insurance Corporation (FSLIC) to organize a new Federal association for the purpose of managing or disposing of any assets: (1) of an insured institution for which the FSLIC has been appointed receiver; or (2) acquired by the FSLIC in order to prevent a default. Authorizes the FSLIC to delegate such liquidation functions to an appropriate regional office. Prohibits the Federal Asset Disposition Association (FADA) from engaging in any new activities after the date of the enactment of this Act. Directs the FSLIC to require FADA to assign all its rights and obligations under any contract to the FSLIC. Requires the FSLIC, within 60 days a…