Source: https://www.law.cornell.edu/cfr/text/12/196.2?qt-cfr_tabs=1
Timestamp: 2016-02-10 18:22:49
Document Index: 570092370

Matched Legal Cases: ['art 196', '§ 196', '§ 163', '§ 3201', '§ 3202', '§ 3203', '§ 3204', '§ 3205', '§ 3206', '§ 3207', '§ 3208', '§ 5412']

12 CFR 196.2 - Definitions. | US Law | LII / Legal Information Institute
CFR › Title 12 › Chapter I › Part 196 › Section 196.2 12 CFR 196.2 - Definitions.
§ 196.2
For purposes of section 202(3)(B) of the Interlocks Act (12 U.S.C. 3201(3)(B)), an affiliate relationship involving a savings association based on common ownership does not exist if the OCC determines, after giving the affected persons the opportunity to respond, that the asserted affiliation was established in order to avoid the prohibitions of the Interlocks Act and does not represent a true commonality of interest between the depository organizations. In making this determination, the OCC considers, among other things, whether a person, including members of his or her immediate family, whose shares are necessary to constitute the group owns a nominal percentage of the shares of one of the organizations and the percentage is substantially disproportionate to that person's ownership of shares in the other organization.
A senior executive officer as that term is defined in § 163.555 of this chapter;
Representative or nominee means a natural person who serves as a management official and has an obligation to act on behalf of another person with respect to management responsibilities. The OCC will find that a person has an obligation to act on behalf of another person only if the first person has an agreement, express or implied, to act on behalf of the second person with respect to management responsibilities. The OCC will determine, after giving the affected persons an opportunity to respond, whether a person is a representative or nominee.
Any corporation (other than a bank as defined in section 3(a)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1813(a)(1)) the deposits of which are insured by the Federal Deposit Insurance Corporation, that the Board of Directors of the Federal Deposit Insurance Corporation and the Comptroller of the Currency jointly determine to be operating in substantially the same manner as a Federal savings association.
This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.United States CodeU.S. Code: Title 12 - BANKS AND BANKING§ 3201 - Definitions§ 3202 - Dual service of management official as management official of unaffiliated institution or holding company in same area, town, or village prohibited§ 3203 - Dual service of management official of $2,500,000,000 institution or holding company as management official of unaffiliated $1,500,000,000 institution or holding company prohibited§ 3204 - Exceptions§ 3205 - Management official in position prior to November 10, 1978§ 3206 - Administration and enforcement§ 3207 - Rules and regulations§ 3208 - Powers available to Attorney General for enforcement§ 5412 - Powers and duties transferred