Federal Register / Vol. 61, No. 116 / Friday, June 14, 1996 / Proposed Rules 30189

affecting a decision regarding whether

an alien has violated a condition of his

or her nonimmigrant stay or eligibility

for benefits. See Kungys v. United

States, 485 U.S. 759, 771 (1988).

Regulatory Flexibility Act

In accordance with 5 U.S.C. 605(b),

the Commissioner of the Immigration

and Naturalization Service certifies that

this rule will not, if promulgated, have

a significant adverse economic impact

on a substantial number of small

entities. This rule merely clarifies that a

nonimmigrant’s status in this country is

conditioned on, among other things, his

or her providing full and truthful

disclosure of all information deemed

necessary to ensure that the alien has

acquired, and is maintaining, lawful

nonimmigrant status during the entire

period of his or her stay, or to ensure

that the alien is eligible to receive any

other benefit under the Act. Any impact

this proposed regulation will have on

small business entities, therefore, will

be negligible.

Executive Order 12866

This proposed rule is not considered

by the Department of Justice,

Immigration and Naturalization Service,

to be a ‘‘significant regulatory action’’

under Executive Order 12866, section

3(f), Regulatory Planning and Review,

and the Office of Management and

Budget has waived its review process

under section 6(a)(3)(A).

Executive Order 12612

This regulation will not have

substantial direct effects on the States,

on the relationship between the

National Government and the States, or

on the distribution of power and

responsibilities among the various

levels of government. Therefore, in

accordance with Executive Order 12612,

it is determined that this rule does not

have sufficient federalism implications

to warrant the preparation of a Federal

Assessment.

Paperwork Reduction Act

This rule contains information

collection requirements which have

been approved by the Office of

Management and Budget (OMB) under

the provisions of the Paperwork

Reduction Act. The OMB control

numbers for these collections are

contained in 8 CFR 299.5, Display of

control numbers.

List of Subjects in 8 CFR Part 214

Administrative practice and

procedure, Aliens, Reporting and

recordkeeping requirements.

Accordingly, part 214 of chapter I of

title 8 of the Code of Federal

Regulations is proposed to be amended

as follows:

PART 214—NONIMMIGRANT CLASSES

1. The authority citation for part 214

continues to read as follows:

Authority: 8 U.S.C. 1101, 1103, 1182, 1184,

1186a, 1187, 1221, 1281, 1282; 8 CFR part 2.

2. In § 214.1, paragraph (f) is revised

to read as follows:

§ 214.1 Requirements for admission,

extension, and maintenance of status.

* * * * *

(f) Disclosure of information. (1) A

condition of a nonimmigrant’s

admission and maintenance of status in

the United States is that he or she fully

and truthfully disclose all information

deemed by the Service to be material in

determining whether the nonimmigrant:

(i) Is eligible for, and/or is

maintaining the nonimmigrant status in

which the alien was admitted or to

which the alien has changed under

section 248 of the Act, or

(ii) Is eligible to receive any benefit

under the Act.

(2) Willful failure by a nonimmigrant

to provide full and truthful disclosure of

such material information when

requested by a Service officer

constitutes a failure to maintain

nonimmigrant status under section

241(a)(1)(C)(i) of the Act.

* * * * *

Dated: March 4, 1996.

Doris Meissner,

Commissioner, Immigration and

Naturalization Service.

[FR Doc. 96–15169 Filed 6–13–96; 8:45 am]

BILLING CODE 4410–01–M

DEPARTMENT OF AGRICULTURE

Animal and Plant Health Inspection

Service

9 CFR Part 95

[Docket No. 89–174–3]

Importation of Fetal Bovine Serum

AGENCY: Animal and Plant Health

Inspection Service, USDA.

ACTION: Proposed rule; withdrawal.

SUMMARY: We are withdrawing a

proposed rule that would have allowed,

under certain conditions, the

importation of fetal bovine serum into

the United States from countries in

which foot-and-mouth disease or

rinderpest exists. We are taking this

action after considering the comments

we received following the publication of

the proposed rule.

DATES: This withdrawal is effective June

14, 1996.

FOR FURTHER INFORMATION CONTACT: Dr.

John H. Gray, Senior Staff Veterinarian,

Import/Export Products, National Center

for Import and Export, VS, APHIS, 4700

River Road Unit 40, Riverdale, MD

20737, (301) 734–7837.

SUPPLEMENTARY INFORMATION:

Background

The regulations in 9 CFR part 95

govern importation into the United

States of certain animal byproducts,

including blood serum and other blood

products. Blood serum is that part of

blood that is left after the blood cells are

removed.

Fetal bovine serum (FBS) is that part

of the blood from bovine fetuses that is

left after the blood cells are removed. It

is used in tissue culture media to

produce various pharmaceuticals and

biological products, such as vaccines,

and cannot be derived synthetically.

On February 25, 1994, we published

in the Federal Register (59 FR 9142–

9146, Docket No. 89–174–1) a proposed

rule that would have allowed, under

certain conditions, the importation of

FBS into the United States from

countries in which foot-and-mouth

disease (FMD) or rinderpest exists. The

proposed conditions included

certification of the origin of the donor

fetuses and treatment of the FBS with

gamma radiation.

We solicited comments on the

proposed rule for 60 days ending April

26, 1994. However, on April 15, 1994,

we published in the Federal Register

(59 FR 18003–18004, Docket No. 89–

174–2) a notice extending the comment

period on the proposed rule until June

27, 1994.

By the close of the comment period,

we received a total of 22 comments. One

commenter supported the proposed rule

as written. Several commenters

supported it with changes. The

remainder of the commenters either

opposed the proposed rule or expressed

reservations concerning it.

The commenters in opposition to the

proposal raised a number of issues,

including that of the efficacy of the

proposed required dosage of gamma

radiation in destroying FMD virus.

Several of the commenters stated that

the size and configuration of the

containers in which the FBS is

irradiated could influence the

effectiveness of the treatment. A number

of commenters stated that the potential

difficulties in adequately monitoring the

source of donor fetuses could create an
30190 Federal Register / Vol. 61, No. 116 / Friday, June 14, 1996 / Proposed Rules

1 61 FR 1162 (January 17, 1996). 2Pub. L. 93–533, 88 Stat. 1724, Dec. 22, 1974.

unacceptable risk of the introduction of

disease into the United States.

We have considered all of the

comments we received on the proposal

and have determined that the expressed

concerns have merit. Therefore, we are

withdrawing the proposed rule of

February 25, 1994, referenced above.

Authority: 21 U.S.C. 111, 136, and 136a; 31

U.S.C. 9701; 7 CFR 2.22, 2.80, and 371.2(d).

Done in Washington, DC, this 7th day of

June 1996.

Terry L. Medley,

Acting Administrator, Animal and Plant

Health Inspection Service.

[FR Doc. 96–15173 Filed 6–13–96; 8:45 am]

BILLING CODE 3410–34–P

DEPARTMENT OF THE TREASURY

Office of Thrift Supervision

12 CFR Parts 545, 556, 560, 563, and

571

[No. 96–48]

RIN 1550–AA89

Conflicts of Interest, Corporate

Opportunity and Hazard Insurance

AGENCY: Office of Thrift Supervision,

Treasury.

ACTION: Notice of proposed rulemaking.

SUMMARY: The Office of Thrift

Supervision (OTS or agency) is

proposing to update and substantially

streamline its regulations and policy

statements concerning conflicts of

interest, usurpation of corporate

opportunity and hazard insurance. This

notice of proposed rulemaking is based

on a detailed staff review of each

pertinent regulation and policy

statement to determine whether they are

necessary, impose the least possible

burden consistent with safety and

soundness and statutory requirements

and are written in a clear,

straightforward manner. Today’s

proposal is being made pursuant to the

Regulatory Reinvention Initiative of the

Vice President’s National Performance

Review and section 303 of the

Community Development and

Regulatory Improvement Act of 1994.

DATES: Comments must be received on

or before August 13, 1996.

ADDRESSES: Send comments to Manager,

Dissemination Branch, Records

Management and Information Policy,

Office of Thrift Supervision, 1700 G

Street, NW., Washington, DC 20552,

Attention Docket No. 96–48. These

submissions may be hand-delivered to

1700 G Street, NW., from 9:00 a.m. to

5:00 p.m. on business days; they may be

sent by facsimile transmission to FAX

Number (202) 906–7755. Comments will

be available for inspection at 1700 G

Street, NW., from 9:00 a.m. until 4:00

p.m. on business days.

FOR FURTHER INFORMATION CONTACT:

Robyn Dennis, Program Manager, (202)

906–5751; or Francis Raue, Policy

Analyst, (202) 906–5750, Supervision

Policy; or Dorene Rosenthal, Counsel

(Banking and Finance), (202) 906–7268,

Regulations and Legislation Division,

Chief Counsel’s Office.

SUPPLEMENTARY INFORMATION:

Table of Contents

I. Background of the Proposal

II. Objectives III. Description of the Proposal

A. Conflicts of Interest

B. Corporate Opportunity

C. Hazard Insurance

IV. Proposed Disposition of Conflicts of

Interest, Corporate Opportunity and

Hazard Insurance Regulations and Policy

Statements

V. Executive Order 12866

VI. Unfunded Mandates Act of 1995

VII. Regulatory Flexibility Act Analysis

I. Background of the Proposal

In a comprehensive review of the

agency’s regulations in the spring of

1995, OTS identified numerous obsolete

or redundant regulations that could be

quickly repealed. OTS also identified

several key regulatory areas for a more

intensive, systematic regulatory burden

review. These areas—lending and

investment authority, subsidiaries and

equity investments, corporate

governance, conflicts of interest,

corporate opportunity and hazard

insurance—were selected because they

have a significant impact on thrift

operations, and have not been

developed on an interagency basis or

been comprehensively reviewed for

many years. Today’s proposal presents

the results of an intensive review of

OTS’s regulations and policy statements

on conflicts of interest, corporate

opportunity and hazard insurance.

Since commencing its reinvention

initiative in the spring of 1995, OTS has

already repealed eight percent of its

regulations. In addition, in January of

1996, OTS issued a comprehensive

proposal on its lending and investment

regulations.1 Burden reduction

proposals regarding corporate

governance and subsidiaries and equity

investments will be issued in the near

future.

Today’s proposal regarding conflicts

of interest, corporate opportunity and

hazard insurance will also result in

significant regulatory burden reduction.

The proposal affects the following

regulatory sections:

Section 545.126—Referral of insurance

business

Section 556.16—Insurance agencies—

usurpation of corporate opportunity

Section 563.35—Restrictions involving

loan services

Section 563.40—Restrictions on loan

procurement fees, kickbacks and

unearned fees

Section 563.44—Loans involving

mortgage insurance

Section 571.4—Hazard insurance

Section 571.7—Conflicts of interest

Section 571.9—Corporate opportunity

in savings associations

OTS is proposing to repeal five of

these provisions in their entirety. The

remaining three provisions—loan

procurement fees, conflicts of interest,

and corporate opportunity—will be

retained in the form of regulations, but

streamlined and clarified. The proposed

changes will, if adopted in final form,

reduce the amount of CFR text devoted

to conflicts, corporate opportunity and

hazard insurance from six pages to half

a page.

In developing this proposal, we have

consulted with those who use the

regulations on a daily basis, including

OTS regional staff and representatives of

the thrift industry. A focus group of five

thrift institutions and an industry trade

association discussed staff’s initial

recommendations. We have also

reviewed the other federal banking

agencies’ regulations and policy

statements concerning conflicts,

corporate opportunity and hazard

insurance.

II. Objectives

The overarching goal of OTS’s

reinvention initiative is to reduce

regulatory burden on savings

associations to the greatest extent

possible consistent with statutory

requirements and safety and soundness.

In the context of conflicts, corporate

opportunity and hazard insurance, we

believe maximum burden reduction can

be achieved by pursuing three specific

objectives.

First, we are attempting to eliminate

duplication and overlap. The conflicts,

corporate opportunity and hazard

insurance regulations have existed

essentially unchanged for over 20 years.

During this time, there have been

significant statutory and regulatory

advances, including enactment of the

Real Estate Settlement Procedures Act of

1974 (RESPA),2 amendments to the

Home Owners’ Loan Act of 1933