Source: https://www.law.cornell.edu/cfr/text/12/303.204
Timestamp: 2015-11-28 05:18:18
Document Index: 147113928

Matched Legal Cases: ['art 303', '§ 303', '§ 303', '§ 378', '§ 1464', '§ 1813', '§ 1815', '§ 1817', '§ 1818', '§ 1819', '§ 1820', '§ 1823', '§ 1828', '§ 1831', '§ 1831', '§ 1831', '§ 1831', '§ 1831', '§ 1835', '§ 1843', '§ 3104', '§ 3105', '§ 3108', '§ 3207']

12 CFR 303.204 - Applications for acquisitions, branching, and new lines of business. | US Law | LII / Legal Information Institute
CFR › Title 12 › Chapter III › Subchapter A › Part 303 › Subpart K › Section 303.204 12 CFR 303.204 - Applications for acquisitions, branching, and new lines of business.
§ 303.204
Applications for acquisitions, branching, and new lines of business.
Any insured state nonmember bank and any insured branch of a foreign bank which is undercapitalized or significantly undercapitalized, and any insured depository institution which is critically undercapitalized, shall submit an application to engage in acquisitions, branching or new lines of business.
A new line of business will include any new activity exercised which, although it may be permissible, has not been exercised by the institution.
Applications shall describe the proposal, state the date the institution's capital restoration plan was accepted by its primary federal regulator, describe the institution's status in implementing the plan, and explain how the proposed action is consistent with and will further the achievement of the plan or otherwise further the purposes of section 38 of the FDI Act. If the FDIC is not the applicant's primary federal regulator, the application also should state whether approval has been requested from the applicant's primary federal regulator, the date of such request and the disposition of the request, if any. If the proposed action also requires applications pursuant to section 18 (c) or (d) of the FDI Act (mergers and branches) (12 U.S.C. 1828 (c) or (d)), such applications should be filed concurrently with, or made a part of, the application filed pursuant to section 38 of the FDI Act (12 U.S.C. 1831
§ 303.204 Applications for acquisitions, branching, and new lines of business.
(1) Any insured state nonmember bank and any insured branch of a foreign bank which is undercapitalized or significantly undercapitalized, and any insured depository institution which is critically undercapitalized, shall submit an application to engage in acquisitions, branching or new lines of business. (2) A new line of business will include any new activity exercised which, although it may be permissible, has not been exercised by the institution. (b)
Content of filing. Applications shall describe the proposal, state the date the institution's capital restoration plan was accepted by its primary federal regulator, describe the institution's status in implementing the plan, and explain how the proposed action is consistent with and will further the achievement of the plan or otherwise further the purposes of section 38 of the FDI Act. If the FDIC is not the applicant's primary federal regulator, the application also should state whether approval has been requested from the applicant's primary federal regulator, the date of such request and the disposition of the request, if any. If the proposed action also requires applications pursuant to section 18 (c) or (d) of the FDI Act (mergers and branches) (12 U.S.C. 1828 (c) or (d)), such applications should be filed concurrently with, or made a part of, the application filed pursuant to section 38 of the FDI Act (12 U.S.C. 1831
o). 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§ 378 - Dealers in securities engaging in banking business; individuals or associations engaging in banking business; examinations and reports; penalties§ 1464 - Federal savings associations§ 1813 - Definitions§ 1815 - Deposit insurance§ 1817 - Assessments§ 1818 - Termination of status as insured depository institution§ 1819 - Corporate powers§ 1820 - Administration of Corporation§ 1823 - Corporation monies§ 1828 - Regulations governing insured depository institutions§ 1831a - Activities of insured State banks§ 1831e - Activities of savings associations§ 1831o - Prompt corrective action§ 1831p-1§ 1831w - Safety and soundness firewalls applicable to financial subsidiaries of banks§ 1835a - Prohibition against deposit production offices§ 1843 - Interests in nonbanking organizations§ 3104 - Insurance of deposits§ 3105 - Authority of Federal Reserve System§ 3108 - Regulation and enforcement§ 3207 - Rules and regulations