Source: https://www.law.cornell.edu/uscode/text/12/1467a?qt-us_code_tabs=2
Timestamp: 2015-10-07 08:50:49
Document Index: 626762233

Matched Legal Cases: ['§ 1467', '§ 1467', '§ 1467', '§ 10', '§ 404', '§ 301', '§ 905', '§ 211', '§ 437', '§ 502', '§ 1606', '§ 1077', '§ 2201', '§ 401', '§ 604', '§ 1201', '§ 2102', '§ 9', '§ 369', '§ 604', '§ 1841', '§ 5511', '§ 407', '§ 8', '§ 1201', '§ 21', '§ 369', '§ 604', '§ 369', '§ 369', '§ 369', '§ 604', '§ 369', '§ 369', '§ 369', '§ 604', '§ 369', '§ 369', '§ 369', '§ 369', '§ 369', '§ 369', '§ 606', '§ 369', '§ 369', '§ 369', '§ 369', '§ 369', '§ 369', '§ 369', '§ 623', '§ 623', '§ 369', '§ 616', '§ 369', '§ 369', '§ 369', '§ 369', '§ 369', '§ 369', '§ 624', '§ 624', '§ 369', '§ 369', '§ 625', '§ 369', '§ 369', '§ 369', '§ 369', '§ 369', '§ 369', '§ 369', '§ 9', '§ 2704', '§ 2704', '§ 9', '§ 2704', '§ 9', '§ 2704', '§ 9', '§ 9', '§ 9', '§ 9', '§ 2704', '§ 9', '§ 9', '§ 1202', '§ 1201', '§ 401', '§ 604', '§ 604', '§ 401', '§ 2203', '§ 2704', '§ 2203', '§ 2704', '§ 2203', '§ 2704', '§ 2203', '§ 2704', '§ 2203', '§ 2704', '§ 2704', '§ 2704', '§ 2303', '§ 2303', '§ 2303', '§ 2303', '§ 2201', '§ 2203', '§ 1606', '§ 437', '§ 1607', '§ 211', '§ 211', '§ 211', '§ 437', '§ 1606', '§ 437', '§ 1606', '§ 437', '§ 1606', '§ 438', '§ 439', '§ 440', '§ 439', '§ 440', '§ 502', '§ 301', '§ 907', '§ 907', '§ 907', '§ 905', '§ 303', '§ 606', '§ 616', '§ 625', '§ 303', '§ 302', '§ 367', '§ 401', '§ 303', '§ 404', 'art 109', 'art 112', 'art 143', 'art 144', 'art 146', 'art 152', 'art 160', 'art 161', 'art 163', 'art 167', 'art 168', 'art 170', 'art 171', 'art 192', 'art 217', 'art 238', 'art 239', 'art 252', 'art 261', 'art 262', 'art 263', 'art 502', 'art 509', 'art 512', 'art 513', 'art 533', 'art 536', 'art 543', 'art 544', 'art 546', 'art 552', 'art 558', 'art 560', 'art 561', 'art 563', 'art 563', 'art 563', 'art 567', 'art 568', 'art 570', 'art 571', 'art 574', 'art 575', 'art 583', 'art 584', 'art 585']

12 U.S. Code § 1467a - Regulation of holding companies | LII / Legal Information Institute
U.S. Code › Title 12 › Chapter 12 › § 1467a 12 U.S. Code § 1467a - Regulation of holding companies
In general As used in this section, unless the context otherwise requires—
Savings association The term “savings association” includes a savings bank or cooperative bank which is deemed by the appropriate Federal banking agency to be a savings association under subsection (l) of this section.
Uninsured institution The term “uninsured institution” means any depository institution the deposits of which are not insured by the Federal Deposit Insurance Corporation.
Company The term “company” means any corporation, partnership, trust, joint-stock company, or similar organization, but does not include the Federal Deposit Insurance Corporation, the Resolution Trust Corporation, any Federal home loan bank, or any company the majority of the shares of which is owned by the United States or any State, or by an instrumentality of the United States or any State.
Savings and loan holding company (i)
a company that controls a savings association that functions solely in a trust or fiduciary capacity as described in section 2(c)(2)(D) of the Bank Holding Company Act of 1956 (12 U.S.C. 1841
(c)(2)(D)); or
Multiple savings and loan holding company The term “multiple savings and loan holding company” means any savings and loan holding company which directly or indirectly controls 2 or more savings associations.
Diversified savings and loan holding company The term “diversified savings and loan holding company” means any savings and loan holding company whose subsidiary savings association and related activities as permitted under paragraph (2) of subsection (c) of this section represented, on either an actual or a pro forma basis, less than 50 percent of its consolidated net worth at the close of its preceding fiscal year and of its consolidated net earnings for such fiscal year, as determined in accordance with regulations issued by the appropriate Federal banking agency.
Subsidiary The term “subsidiary” has the same meaning as in section 1813 of this title.
Affiliate The term “affiliate” of a savings association means any person which controls, is controlled by, or is under common control with, such savings association.
Bank holding company The terms “bank holding company” and “bank” have the meanings given to such terms in section 2 of the Bank Holding Company Act of 1956 [12 U.S.C. 1841].
Acquire The term “acquire” has the meaning given to such term in section 1823
(f)(8) of this title.
Control For purposes of this section, a person shall be deemed to have control of—
Exclusions Notwithstanding any other provision of this subsection, the term “savings and loan holding company” does not include—
any trust (other than a pension, profit-sharing, shareholders’, voting, or business trust) which controls a savings association or a savings and loan holding company if such trust by its terms must terminate within 25 years or not later than 21 years and 10 months after the death of individuals living on the effective date of the trust, and is (i)
in existence on June 26, 1967, or (ii)
a testamentary trust created on or after June 26, 1967.
Special rule relating to qualified stock issuance No savings and loan holding company shall be deemed to control a savings association solely by reason of the purchase by such savings and loan holding company of shares issued by such savings association, or issued by any savings and loan holding company (other than a bank holding company) which controls such savings association, in connection with a qualified stock issuance if such purchase is approved by the Board under subsection (q)(1)(D) of this section, unless the acquiring savings and loan holding company, directly or indirectly, or acting in concert with 1 or more other persons, or through 1 or more subsidiaries, owns, controls, or holds with power to vote, or holds proxies representing, more than 15 percent of the voting shares of such savings association or holding company.
Registration and examination (1)
In general Within 90 days after becoming a savings and loan holding company, each savings and loan holding company shall register with the Board on forms prescribed by the Board, which shall include such information, under oath or otherwise, with respect to the financial condition, ownership, operations, management, and intercompany relationships of such holding company and its subsidiaries, and related matters, as the Board may deem necessary or appropriate to carry out the purposes of this section. Upon application, the Board may extend the time within which a savings and loan holding company shall register and file the requisite information.
In general Each savings and loan holding company and each subsidiary thereof, other than a savings association, shall file with the Board, such reports as may be required by the Board. Such reports shall be made under oath or otherwise, and shall be in such form and for such periods, as the Board may prescribe. Each report shall contain such information concerning the operations of such savings and loan holding company and its subsidiaries as the Board may require.
Availability Upon the request of the Board, a savings and loan holding company or a subsidiary of a savings and loan holding company shall promptly provide to the Board any information described in clauses (i) through (iii) of subparagraph (B).
Books and records Each savings and loan holding company shall maintain such books and records as may be prescribed by the Board.
In general Subject to subtitle B of the Consumer Financial Protection Act of 2010 [12 U.S.C. 5511 et seq.], the Board may make examinations of a savings and loan holding company and each subsidiary of a savings and loan holding company system, in order to—
Use of reports to reduce examinations For purposes of this subsection, the Board shall, to the fullest extent possible, rely on—
Agent for service of process The Board may require any savings and loan holding company, or persons connected therewith if it is not a corporation, to execute and file a prescribed form of irrevocable appointment of agent for service of process.
Release from registration The Board may at any time, upon the motion or application of the Board, release a registered savings and loan holding company from any registration theretofore made by such company, if the Board determines that such company no longer has control of any savings association.
Holding company activities (1)
Prohibited activities Except as otherwise provided in this subsection, no savings and loan holding company and no subsidiary which is not a savings association shall—
Exempt activities The prohibitions of subparagraphs (B) and (C) of paragraph (1) shall not apply to the following business activities of any savings and loan holding company or any subsidiary (of such company) which is not a savings association:
which the Board, by regulation, has determined to be permissible for bank holding companies under section 4(c) of the Bank Holding Company Act of 1956 [12 U.S.C. 1843
(c)], unless the Board, by regulation, prohibits or limits any such activity for savings and loan holding companies; or
In the case of a savings and loan holding company, purchasing, holding, or disposing of stock acquired in connection with a qualified stock issuance if the purchase of such stock by such savings and loan holding company is approved by the Board pursuant to subsection (q)(1)(D) of this section.
Any activity that is permissible for a financial holding company (as such term is defined under section 2(p) of the Bank Holding Company Act of 1956 (12 U.S.C. 1841
(p)) [1]
to conduct under section 4(k) of the Bank Holding Company Act of 1956 [12 U.S.C. 1843
(k)] if—
the savings and loan holding company meets all of the criteria to qualify as a financial holding company, and complies with all of the requirements applicable to a financial holding company, under sections 4(l) and 4(m) of the Bank Holding Company Act [2]
[12 U.S.C. 1843
(l), (m)] and section 2903
(c) of this title as if the savings and loan holding company was a bank holding company; and
Certain limitations on activities not applicable to certain holding companies Notwithstanding paragraphs (4) and (6) of this subsection, the limitations contained in subparagraphs (B) and (C) of paragraph (1) shall not apply to any savings and loan holding company (or any subsidiary of such company) which controls—
only 1 savings association, if the savings association subsidiary of such company is a qualified thrift lender (as determined under subsection (m) of this section); or
pursuant to an acquisition under section 1823
(c) or 1823
(k) of this title or section 408(m) [3]
pursuant to an acquisition in which assistance was continued to a savings association under section 1823
all of the savings association subsidiaries of such company are qualified thrift lenders (as determined under subsection (m) of this section).
Prior approval of certain new activities required (A)
In general No savings and loan holding company and no subsidiary which is not a savings association shall commence, either de novo or by an acquisition (in whole or in part) of a going concern, any activity described in paragraph (2)(F)(i) of this subsection without the prior approval of the Board.
Factors to be considered In considering any application under subparagraph (A) by any savings and loan holding company or any subsidiary of any such company which is not a savings association, the Board shall consider—
Board may differentiate between new and ongoing activities In prescribing any regulation or considering any application under this paragraph, the Board may differentiate between activities commenced de novo and activities commenced by the acquisition, in whole or in part, of a going concern.
Approval or disapproval by order The approval or disapproval of any application under this paragraph by the Board shall be made in an order issued by the Board containing the reasons for such approval or disapproval.
Grace period to achieve compliance If any savings association referred to in paragraph (3) fails to maintain the status of such association as a qualified thrift lender, the Board may allow, for good cause shown, any company that controls such association (or any subsidiary of such company which is not a savings association) up to 3 years to comply with the limitations contained in paragraph (1)(C).
Special provisions relating to certain companies affected by 1987 amendments (A)
Exception to 2-year grace period for achieving compliance Notwithstanding paragraph (1)(C), any company which received approval under subsection (e) of this section to acquire control of a savings association between March 5, 1987, and August 10, 1987, shall not continue any business activity other than an activity described in paragraph (2) after August 10, 1987.
Exemption for activities lawfully engaged in before March 5, 1987 Notwithstanding paragraph (1)(C) and subject to subparagraphs (C) and (D), any savings and loan holding company which received approval, before March 5, 1987, under subsection (e) of this section to acquire control of a savings association may engage, directly or through any subsidiary (other than a savings association subsidiary of such company), in any activity in which such company or such subsidiary was lawfully engaged on such date.
Termination of subparagraph (B) exemption The exemption provided under subparagraph (B) for activities engaged in by any savings and loan holding company or a subsidiary of such company (which is not a savings association) which would otherwise be prohibited under paragraph (1)(C) shall terminate with respect to such activities of such company or subsidiary upon the occurrence (after August 10, 1987) of any of the following:
The savings and loan holding company acquires control of a bank or an additional savings association (other than a savings association acquired pursuant to section 1823
(k) of this title or section 406(f) or 408(m) [3]
of the National Housing Act [12 U.S.C. 1729
(f) or 1730a
(m)]).
Any savings association subsidiary of the savings and loan holding company fails to qualify as a domestic building and loan association under section 7701(a)(19) of the Internal Revenue Code of 1986 [26 U.S.C. 7701
(a)(19)].
Any savings association subsidiary of the savings and loan holding company increases the number of locations from which such savings association conducts business after March 5, 1987 (other than an increase which occurs in connection with a transaction under section 1823
(c) or (k) of this title or section 408(m) [3]
of the National Housing Act.
Order to terminate subparagraph (B) activity Any activity described in subparagraph (B) may also be terminated by the Board, after opportunity for hearing, if the Board determines, having due regard for the purposes of this chapter, that such action is necessary to prevent conflicts of interest or unsound practices or is in the public interest.
Foreign savings and loan holding company Notwithstanding any other provision of this section, any savings and loan holding company organized under the laws of a foreign country as of June 1, 1984 (including any subsidiary thereof which is not a savings association), which controls a single savings association on August 10, 1987, shall not be subject to this subsection with respect to any activities of such holding company which are conducted exclusively in a foreign country.
Exemption for bank holding companies Except for paragraph (1)(A), this subsection shall not apply to any company that is treated as a bank holding company for purposes of section 4 of the Bank Holding Company Act of 1956 [12 U.S.C. 1843], or any of its subsidiaries.
Prevention of new affiliations between S&L holding companies and commercial firms (A)
In general Notwithstanding paragraph (3), no company may directly or indirectly, including through any merger, consolidation, or other type of business combination, acquire control of a savings association after May 4, 1999, unless the company is engaged, directly or indirectly (including through a subsidiary other than a savings association), only in activities that are permitted—
for financial holding companies under section 4(k) of the Bank Holding Company Act of 1956 [12 U.S.C. 1843
Prevention of new commercial affiliations Notwithstanding paragraph (3), no savings and loan holding company may engage directly or indirectly (including through a subsidiary other than a savings association) in any activity other than as described in clauses (i) and (ii) of subparagraph (A).
Preservation of authority of existing unitary S&L holding companies Subparagraphs (A) and (B) do not apply with respect to any company that was a savings and loan holding company on May 4, 1999, or that becomes a savings and loan holding company pursuant to an application pending before the Office on or before that date, and that—
Corporate reorganizations permitted This paragraph does not prevent a transaction that—
Authority to prevent evasions The Board may issue interpretations, regulations, or orders that the Board determines necessary to administer and carry out the purpose and prevent evasions of this paragraph, including a determination (in consultation with the appropriate Federal banking agency) that, notwithstanding the form of a transaction, the transaction would in substance result in a company acquiring control of a savings association.
Preservation of authority for family trusts Subparagraphs (A) and (B) do not apply with respect to any trust that becomes a savings and loan holding company with respect to a savings association, if—
Transactions with affiliates Transactions between any subsidiary savings association of a savings and loan holding company and any affiliate (of such savings association subsidiary) shall be subject to the limitations and prohibitions specified in section 1468 of this title.
In general It shall be unlawful for—
to acquire, by purchase or otherwise, or to retain, except with the prior written approval of the Board, more than 5 percent of the voting shares of a savings association not a subsidiary, or of a savings and loan holding company not a subsidiary, or in the case of a multiple savings and loan holding company (other than a company described in subsection (c)(8) of this section), to acquire or retain, and the Board may not authorize acquisition or retention of, more than 5 percent of the voting shares of any company not a subsidiary which is engaged in any business activity other than the activities specified in subsection (c)(2) of this section. This clause shall not apply to shares of a savings association or of a savings and loan holding company—
acquired under section 408(m) [3]
(m)] or section 1823
held by any insurance company, as defined in section 2(a)(17) of the Investment Company Act of 1940 [15 U.S.C. 80a–2
(a)(17)], except as provided in paragraph (6); or
acquired pursuant to a qualified stock issuance if such purchase is approved by the Board under subsection (q)(1)(D) of this section;
any other company, without the prior written approval of the Board, directly or indirectly, or through one or more subsidiaries or through one or more transactions, to acquire the control of one or more savings associations, except that such approval shall not be required in connection with the control of a savings association, (i)
acquired by devise under the terms of a will creating a trust which is excluded from the definition of “savings and loan holding company” under subsection (a) of this section, (ii)
acquired in connection with a reorganization in which a person or group of persons, having had control of a savings association for more than 3 years, vests control of that association in a newly formed holding company subject to the control of the same person or group of persons, or (iii)
acquired by a bank holding company that is registered under, and subject to, the Bank Holding Company Act of 1956 [12 U.S.C. 1841 et seq.], or any company controlled by such bank holding company. The Board shall approve an acquisition of a savings association under this subparagraph unless the Board finds the financial and managerial resources and future prospects of the company and association involved to be such that the acquisition would be detrimental to the association or the insurance risk of the Deposit Insurance Fund, and shall render a decision within 90 days after submission to the Board of the complete record on the application.
Factors to be considered The Board shall not approve any acquisition under subparagraph (A)(i) or (A)(ii), or of more than one savings association under subparagraph (B) of paragraph (1) of this subsection, any acquisition of stock in connection with a qualified stock issuance, any acquisition under paragraph (4)(A), or any transaction under section 1823
(k) of this title, except in accordance with this paragraph. In every case, the Board shall take into consideration the financial and managerial resources and future prospects of the company and association involved, the effect of the acquisition on the association, the insurance risk to the Deposit Insurance Fund, and the convenience and needs of the community to be served, and shall render a decision within 90 days after submission to the Board of the complete record on the application. Consideration of the managerial resources of a company or savings association shall include consideration of the competence, experience, and integrity of the officers, directors, and principal shareholders of the company or association. Before approving any such acquisition, except a transaction under section 1823
(k) of this title, the Board shall request from the Attorney General and consider any report rendered within 30 days on the competitive factors involved. The Board shall not approve any proposed acquisition—
Interstate acquisitions No acquisition shall be approved by the Board under this subsection which will result in the formation by any company, through one or more subsidiaries or through one or more transactions, of a multiple savings and loan holding company controlling savings associations in more than one State, unless—
such company, or a savings association subsidiary of such company, is authorized to acquire control of a savings association subsidiary, or to operate a home or branch office, in the additional State or States pursuant to section 1823
Acquisitions by certain individuals (A)
In general Notwithstanding subsection (h)(2) of this section, any director or officer of a savings and loan holding company, or any individual who owns, controls, or holds with power to vote (or holds proxies representing) more than 25 percent of the voting shares of such holding company, may acquire control of any savings association not a subsidiary of such savings and loan holding company with the prior written approval of the Board.
Treatment of certain holding companies If any individual referred to in subparagraph (A) controls more than 1 savings and loan holding company or more than 1 savings association, any savings and loan holding company controlled by such individual shall be subject to the activities limitations contained in subsection (c) of this section to the same extent such limitations apply to multiple savings and loan holding companies, unless all or all but 1 of the savings associations (including any institution deemed to be a savings association under subsection (l) of this section) controlled directly or indirectly by such individual was acquired pursuant to an acquisition described in subclause (I) or (II) of subsection (c)(3)(B)(i) of this section.
Acquisitions pursuant to certain security interests This subsection and subsection (c)(2) of this section do not apply to any savings and loan holding company which acquired the control of a savings association or of a savings and loan holding company pursuant to a pledge or hypothecation to secure a loan, or in connection with the liquidation of a loan, made in the ordinary course of business. It shall be unlawful for any such company to retain such control for more than one year after February 14, 1968, or from the date on which such control was acquired, whichever is later, except that the Board may upon application by such company extend such one-year period from year to year, for an additional period not exceeding 3 years, if the Board finds such extension is warranted and would not be detrimental to the public interest.
Shares held by insurance affiliates Shares described in clause (iii)(VII) of paragraph (1)(A) shall not be excluded for purposes of clause (iii) of such paragraph if—
Definitions For purposes of paragraph (2)(E)—
with respect to a Federal savings association, the State in which the home office (as defined by the regulations of the Board [4]
of the Office of Thrift Supervision, or, on and after the transfer date,
the Comptroller of the Currency) of the Federal savings association is located; and
Declaration of dividend Every subsidiary savings association of a savings and loan holding company shall give the Board not less than 30 days’ advance notice of the proposed declaration by its directors of any dividend on its guaranty, permanent, or other nonwithdrawable stock. Such notice period shall commence to run from the date of receipt of such notice by the Board. Any such dividend declared within such period, or without the giving of such notice to the Board, shall be invalid and shall confer no rights or benefits upon the holder of any such stock.
In general The Board is authorized to issue such regulations and orders, including regulations and orders relating to capital requirements for savings and loan holding companies, as the Board deems necessary or appropriate to enable the Board to administer and carry out the purposes of this section, and to require compliance therewith and prevent evasions thereof. In establishing capital regulations pursuant to this subsection, the appropriate Federal banking agency shall seek to make such requirements countercyclical so that the amount of capital required to be maintained by a company increases in times of economic expansion and decreases in times of economic contraction, consistent with the safety and soundness of the company.
Investigations The Board may make such investigations as the Board deems necessary or appropriate to determine whether the provisions of this section, and regulations and orders thereunder, are being and have been complied with by savings and loan holding companies and subsidiaries and affiliates thereof. For the purpose of any investigation under this section, the Board may administer oaths and affirmations, issue subpenas, take evidence, and require the production of any books, papers, correspondence, memorandums, or other records which may be relevant or material to the inquiry. The attendance of witnesses and the production of any such records may be required from any place in any State. The Board may apply to the United States district court for the judicial district (or the United States court in any territory) in which any witness or company subpenaed resides or carries on business, for enforcement of any subpena issued pursuant to this paragraph, and such courts shall have jurisdiction and power to order and require compliance.
Proceedings (A)
In any proceeding under subsection (a)(2)(D) of this section or under paragraph (5) of this subsection, the Board may administer oaths and affirmations, take or cause to be taken depositions, and issue subpenas. The Board may make regulations with respect to any such proceedings. The attendance of witnesses and the production of documents provided for in this paragraph may be required from any place in any State or in any territory at any designated place where such proceeding is being conducted. Any party to such proceedings may apply to the United States District Court for the District of Columbia, or the United States district court for the judicial district or the United States court in any territory in which such proceeding is being conducted, or where the witness resides or carries on business, for enforcement of any subpena issued pursuant to this paragraph, and such courts shall have jurisdiction and power to order and require compliance therewith. Witnesses subpenaed under this section shall be paid the same fees and mileage that are paid witnesses in the district courts of the United States.
Any hearing provided for in subsection (a)(2)(D) of this section or under paragraph (5) of this section [5]
Injunctions Whenever it appears to the Board that any person is engaged or has engaged or is about to engage in any acts or practices which constitute or will constitute a violation of the provisions of this section or of any regulation or order thereunder, the Board may bring an action in the proper United States district court, or the United States court of any territory or other place subject to the jurisdiction of the United States, to enjoin such acts or practices, to enforce compliance with this section or any regulation or order, or to require the divestiture of any acquisition in violation of this section, or for any combination of the foregoing, and such courts shall have jurisdiction of such actions. Upon a proper showing an injunction, decree, restraining order, order of divestiture, or other appropriate order shall be granted without bond.
Cease and desist orders (A)
The Board may in the discretion of the Board apply to the United States district court within the jurisdiction of which the principal office of the company is located, for the enforcement of any effective and outstanding order issued under this section, and such court shall have jurisdiction and power to order and require compliance therewith. Except as provided in subsection (j) of this section, no court shall have jurisdiction to affect by injunction or otherwise the issuance or enforcement of any notice or order under this section, or to review, modify, suspend, terminate, or set aside any such notice or order.
Prohibited acts It shall be unlawful for—
any director or officer of a savings and loan holding company, or any individual who owns, controls, or holds with power to vote (or holds proxies representing) more than 25 percent of the voting shares of such holding company, to acquire control of any savings association not a subsidiary of such savings and loan holding company, unless such acquisition is approved by the Board pursuant to subsection (e)(4) of this section; or
Criminal penalty (A)
6 Civil money penalty (A)
Penalty Any company which violates, and any person who participates in a violation of, any provision of this section, or any regulation or order issued pursuant thereto, shall forfeit and pay a civil penalty of not more than $25,000 for each day during which such violation continues.
Assessment Any penalty imposed under subparagraph (A) may be assessed and collected by the Board in the manner provided in subparagraphs (E), (F), (G), and (I) of section 1818
Hearing The company or other person against whom any civil penalty is assessed under this paragraph shall be afforded a hearing if such company or person submits a request for such hearing within 20 days after the issuance of the notice of assessment. Section 1818
(h) of this title shall apply to any proceeding under this paragraph.
Disbursement All penalties collected under authority of this paragraph shall be deposited into the Treasury.
Regulations The Board shall prescribe regulations establishing such procedures as may be necessary to carry out this paragraph.
Assessment; etc. Any penalty imposed under subparagraph (A) may be assessed and collected by the Board in the manner provided in subparagraphs (E), (F), (G), and (I) of section 1818
Hearing The company or other person against whom any penalty is assessed under this paragraph shall be afforded an agency hearing if such company or person submits a request for such hearing within 20 days after the issuance of the notice of assessment. Section 1818
(u) of this title) with respect to a savings and loan holding company or subsidiary thereof (including a separation caused by the deregistration of such a company or such a subsidiary) shall not affect the jurisdiction and authority of the Board to issue any notice and proceed under this section against any such party, if such notice is served before the end of the 6-year period beginning on the date such party ceased to be such a party with respect to such holding company or its subsidiary (whether such date occurs before, on, or after August 9, 1989).
Judicial review Any party aggrieved by an order of the Board under this section may obtain a review of such order by filing in the court of appeals of the United States for the circuit in which the principal office of such party is located, or in the United States Court of Appeals for the District of Columbia Circuit, within 30 days after the date of service of such order, a written petition praying that the order of the Board be modified, terminated, or set aside. A copy of the petition shall be forthwith transmitted by the clerk of the court to the Board, and thereupon the Board shall file in the court the record in the proceeding, as provided in section 2112 of title 28. Upon the filing of such petition, such court shall have jurisdiction, which upon the filing of the record shall be exclusive, to affirm, modify, terminate, or set aside, in whole or in part, the order of the Board. Review of such proceedings shall be had as provided in chapter 7 of title 5. The judgment and decree of the court shall be final, except that the same shall be subject to review by the Supreme Court upon certiorari as provided in section 1254 of title 28.
Savings clause Nothing contained in this section, other than any transaction approved under subsection (e)(2) of this section or section 1823 of this title, shall be interpreted or construed as approving any act, action, or conduct which is or has been or may be in violation of existing law, nor shall anything herein contained constitute a defense to any action, suit, or proceeding pending or hereafter instituted on account of any act, action, or conduct in violation of the antitrust laws.
Treatment of FDIC insured State savings banks and cooperative banks as savings associations (1)
In general Notwithstanding any other provision of law, a savings bank (as defined in section 1813
(g) of this title) and a cooperative bank that is an insured bank (as defined in section 1813
(h) of this title) upon application shall be deemed to be a savings association for the purpose of this section, if the appropriate Federal banking agency determines that such bank is a qualified thrift lender (as determined under subsection (m) of this section).
Failure to maintain qualified thrift lender status If any savings bank which is deemed to be a savings association under paragraph (1) subsequently fails to maintain its status as a qualified thrift lender, as determined by the appropriate Federal banking agency, such bank may not thereafter be a qualified thrift lender for a period of 5 years.
Qualified thrift lender test (1)
In general Except as provided in paragraphs (2) and (7), any savings association is a qualified thrift lender if—
the savings association qualifies as a domestic building and loan association, as such term is defined in section 7701
(a)(19) of title 26; or
Exceptions granted by appropriate Federal banking agency Notwithstanding paragraph (1), the appropriate Federal banking agency may grant such temporary and limited exceptions from the minimum actual thrift investment percentage requirement contained in such paragraph as the appropriate Federal banking agency deems necessary if—
the grant of any such exception will significantly facilitate an acquisition under section 1823
the appropriate Federal banking agency determines that [7]
Failure to become and remain a qualified thrift lender (A)
In general A savings association that fails to become or remain a qualified thrift lender shall immediately be subject to the restrictions under subparagraph (B).
Restrictions applicable to savings associations that are not qualified thrift lenders (i)
are specifically approved by the Comptroller of the Currency and the Board after a written request submitted to the Comptroller of the Currency and the Board by the savings association not later than 30 days before the date of the proposed payment.
A savings association that fails to become or remain a qualified thrift lender shall be deemed to have violated section 1464 of this title and subject to actions authorized by section 1464
Holding company regulation Any company that controls a savings association that is subject to any provision of subparagraph (B) shall, within one year after the date on which the savings association should have become or ceases to be a qualified thrift lender, register as and be deemed to be a bank holding company subject to all of the provisions of the Bank Holding Company Act of 1956 [12 U.S.C. 1841 et seq.], section 1818 of this title, and other statutes applicable to bank holding companies, in the same manner and to the same extent as if the company were a bank holding company and the savings association were a bank, as those terms are defined in the Bank Holding Company Act of 1956.
Requalification A savings association that should have become or ceases to be a qualified thrift lender shall not be subject to subparagraph (B) or (C) if the savings association becomes a qualified thrift lender by meeting the qualified thrift lender requirement in paragraph (1) on a monthly average basis in 9 out of the preceding 12 months and remains a qualified thrift lender. If the savings association (or any savings association that acquired all or substantially all of its assets from that savings association) at any time thereafter ceases to be a qualified thrift lender, it shall immediately be subject to all provisions of subparagraphs (B) and (C) as if all the periods described in subparagraphs (B)(ii) and (C) had expired.
Exemption for specialized savings associations serving certain military personnel Subparagraph (A) shall not apply to a savings association subsidiary of a savings and loan holding company if at least 90 percent of the customers of the savings and loan holding company and its subsidiaries and affiliates are active or former members in the United States military services or the widows, widowers, divorced spouses, or current or former dependents of such members.
Exemption for certain Federal savings associations This paragraph shall not apply to any Federal savings association in existence as a Federal savings association on August 9, 1989—
No circumvention of exit moratorium Subparagraph (A) of this paragraph shall not be construed as permitting any insured depository institution to engage in any conversion transaction prohibited under section 1815
(d) [3]
Actual thrift investment percentage The term “actual thrift investment percentage” means the percentage determined by dividing—
Portfolio assets The term “portfolio assets” means, with respect to any savings association, the total assets of the savings association, minus the sum of—
Qualified thrift investments (i)
Existing obligations of deposit insurance agencies.— Direct or indirect obligations of the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation issued in accordance with the terms of agreements entered into prior to July 1, 1989, for the 10-year period beginning on the date of issuance of such obligations.
New obligations of deposit insurance agencies.— Obligations of the Federal Deposit Insurance Corporation, the Federal Savings and Loan Insurance Corporation, the FSLIC Resolution Fund, and the Resolution Trust Corporation issued in accordance with the terms of agreements entered into on or after July 1, 1989, for the 5-year period beginning on the date of issuance of such obligations.
Credit card The appropriate Federal banking agency shall issue such regulations as may be necessary to define the term “credit card”.
Small business The appropriate Federal banking agency shall issue such regulations as may be necessary to define the term “small business”.
Consistent accounting required (A)
Special rules for Puerto Rico and Virgin Islands savings associations (A)
Puerto Rico savings associations With respect to any savings association headquartered and operating primarily in Puerto Rico—
Virgin Islands savings associations With respect to any savings association headquartered and operating primarily in the Virgin Islands—
Transitional rule for certain savings associations (A)
In general If any Federal savings association in existence as a Federal savings association on August 9, 1989—
Subparagraph (B) requirements A savings association meets the requirements of this subparagraph if, in the determination of the appropriate Federal banking agency—
For the following The applicable
period: percentage is:
July 1, 1991–September 30, 1992 25 percent
October 1, 1992–March 31, 1994 50 percent
April 1, 1994–September 30, 1995 75 percent
Thereafter 100 percent
Actual thrift investment percentage For purposes of this paragraph, the actual thrift investment percentage of an association on July 15, 1989, shall be determined by applying the definition of “actual thrift investment percentage” that takes effect on July 1, 1991.
Tying restrictions A savings and loan holding company and any of its affiliates shall be subject to section 1464
(q) of this title and regulations prescribed under such section, in connection with transactions involving the products or services of such company or affiliate and those of an affiliated savings association as if such company or affiliate were a savings association.
Mutual holding companies (1)
In general A savings association operating in mutual form may reorganize so as to become a holding company by—
Directors and certain account holders’ approval of plan required A reorganization is not authorized under this subsection unless—
Notice to the Board; disapproval period (A)
Notice required At least 60 days prior to taking any action described in paragraph (1), a savings association seeking to establish a mutual holding company shall provide written notice to the Board. The notice shall contain such relevant information as the Board shall require by regulation or by specific request in connection with any particular notice.
Transaction allowed if not disapproved Unless the Board within such 60-day notice period disapproves the proposed holding company formation, or extends for another 30 days the period during which such disapproval may be issued, the savings association providing such notice may proceed with the transaction, if the requirements of paragraph (2) have been met.
Grounds for disapproval The Board may disapprove any proposed holding company formation only if—
Retention of capital assets In connection with the transaction described in paragraph (1), a savings association may, subject to the approval of the Board, retain capital assets at the holding company level to the extent that such capital exceeds the association’s capital requirement established by the Board pursuant to subsections (s) and (t) ofsection 1464 of this title.
In general Persons having ownership rights in the mutual association pursuant to section 1464
(b)(1)(B) of this title or State law shall have the same ownership rights with respect to the mutual holding company.
Holders of certain accounts Holders of savings, demand or other accounts of—
Permitted activities A mutual holding company may engage only in the following activities:
Engaging in the activities described in subsection (c)(2) or (c)(9)(A)(ii) of this section.
Limitations on certain activities of acquired holding companies (A)
New activities If a mutual holding company acquires or merges with another holding company under paragraph (5)(C), the holding company acquired or the holding company resulting from such merger or acquisition may only invest in assets and engage in activities which are authorized under paragraph (5).
Grace period for divesting prohibited assets or discontinuing prohibited activities Not later than 2 years following a merger or acquisition described in paragraph (5)(C), the acquired holding company or the holding company resulting from such merger or acquisition shall—
Regulation A mutual holding company shall be chartered by the Board and shall be subject to such regulations as the Board may prescribe. Unless the context otherwise requires, a mutual holding company shall be subject to the other requirements of this section regarding regulation of holding companies.
Capital improvement (A)
Pledge of stock of savings association subsidiary This section shall not prohibit a mutual holding company from pledging all or a portion of the stock of a savings association chartered as part of a transaction described in paragraph (1) to raise capital for such savings association.
Issuance of nonvoting shares This section shall not prohibit a savings association chartered as part of a transaction described in paragraph (1) from issuing any nonvoting shares or less than 50 percent of the voting shares of such association to any person other than the mutual holding company.
Insolvency and liquidation (A)
In general Notwithstanding any provision of law, upon—
Distribution of net proceeds Except as provided in subparagraph (C), the net proceeds of any liquidation of any mutual holding company pursuant to subparagraph (A) shall be transferred to persons who hold ownership interests in such mutual holding company.
Recovery by Corporation If the Corporation incurs a loss as a result of the default of any savings association subsidiary of a mutual holding company which is liquidated pursuant to subparagraph (A), the Corporation shall succeed to the ownership interests of the depositors of such savings association in the mutual holding company, to the extent of the Corporation’s loss.
Mutual holding company The term “mutual holding company” means a corporation organized as a holding company under this subsection.
Mutual association The term “mutual association” means a savings association which is operating in mutual form.
Default The term “default” means an adjudication or other official determination of a court of competent jurisdiction or other public authority pursuant to which a conservator, receiver, or other legal custodian is appointed.
Declaration of dividends (i)
Waiver of dividends A mutual holding company may waive the right to receive any dividend declared by a subsidiary of the mutual holding company, if—
Resolution included in waiver notice A notice of a waiver under subparagraph (B) shall include a copy of the resolution of the board of directors of the mutual holding company, in such form and substance as the Board may determine, together with any supporting materials relied upon by the board of directors of the mutual holding company, concluding that the proposed dividend waiver is consistent with the fiduciary duties of the board of directors to the mutual members of the mutual holding company.
Standards for waiver of dividend The Board may not object to a waiver of dividends under subparagraph (B) if—
Holding company activities constituting serious risk to subsidiary savings association (1)
Determination and imposition of restrictions If the Board or the appropriate Federal banking agency for the savings association determines that there is reasonable cause to believe that the continuation by a savings and loan holding company of any activity constitutes a serious risk to the financial safety, soundness, or stability of a savings and loan holding company’s subsidiary savings association, the Board may impose such restrictions as the Board, in consultation with the appropriate Federal banking agency for the savings association determines to be necessary to address such risk. Such restrictions shall be issued in the form of a directive to the holding company and any of its subsidiaries, limiting—
Review of directive (A)
Administrative review After a directive referred to in paragraph (1) is issued, the savings and loan holding company, or any subsidiary of such holding company subject to the directive, may object and present in writing its reasons why the directive should be modified or rescinded. Unless within 10 days after receipt of such response the Board affirms, modifies, or rescinds the directive, such directive shall automatically lapse.
Judicial review If the Board affirms or modifies a directive pursuant to subparagraph (A), any affected party may immediately thereafter petition the United States district court for the district in which the savings and loan holding company has its main office or in the United States District Court for the District of Columbia to stay, modify, terminate or set aside the directive. Upon a showing of extraordinary cause, the savings and loan holding company, or any subsidiary of such holding company subject to a directive, may petition a United States district court for relief without first pursuing or exhausting the administrative remedies set forth in this paragraph.
Qualified stock issuance by undercapitalized savings associations or holding companies (1)
In general For purposes of this section, any issue of shares of stock shall be treated as a qualified stock issuance if the following conditions are met:
At the time of the stock issuance, each savings association subsidiary of the acquiring savings and loan holding company (other than an association acquired in a transaction pursuant to subsection (c) or (k) ofsection 1823 of this title or section 408(m) [3]
(m)]) has capital (after deducting any subordinated debt, intangible assets, and deferred, unamortized gains or losses) of not less than 61/2 percent of the total assets of such savings association.
Approval of acquisitions (A)
Additional capital commitments not required The Board shall not disapprove any application for the purchase of stock in connection with a qualified stock issuance on the grounds that the acquiring savings and loan holding company has failed to undertake to make subsequent additional capital contributions to maintain the capital of the undercapitalized savings association at or above the minimum level required by the Board or any other Federal agency having jurisdiction.
Other conditions Notwithstanding subsection (a)(4) of this section, the Board may impose such conditions on any approval of an application for the purchase of stock in connection with a qualified stock issuance as the Board determines to be appropriate, including—
Application deemed approved if not disapproved within 90 days An application for approval of a purchase of stock in connection with a qualified stock issuance shall be deemed to have been approved by the Board if such application has not been disapproved by the Board before the end of the 90-day period beginning on the date such application has been deemed sufficient under regulations issued by the Board.
No limitation on class of stock issued The shares of stock issued in connection with a qualified stock issuance may be shares of any class.
“Undercapitalized savings association” defined For purposes of this subsection, the term “undercapitalized savings association” means any savings association—
which does not comply with one or more of the capital standards in effect under section 1464
Penalty for failure to provide timely and accurate reports (1)
First tier Any savings and loan holding company, and any subsidiary of such holding company, which—
shall be subject to a penalty of not more than $2,000 for each day during which such failure continues or such false or misleading information is not corrected. Such holding company or subsidiary shall have the burden of proving by a preponderence [8]
Second tier Any savings and loan holding company, and any subsidiary of such holding company, which—
Third tier If any savings and loan holding company or any subsidiary of such a holding company knowingly or with reckless disregard for the accuracy of any information or report described in paragraph (2) submits or publishes any false or misleading report or information, the Board or appropriate Federal banking agency may assess a penalty of not more than $1,000,000 or 1 percent of total assets of such company or subsidiary, whichever is less, per day for each day during which such failure continues or such false or misleading information is not corrected.
Assessment Any penalty imposed under paragraph (1), (2), or (3) shall be assessed and collected by the Board or appropriate Federal banking agency in the manner provided in subparagraphs (E), (F), (G), and (I) of section 1818
(i)(2) of this title (for penalties imposed under such section) and any such assessment (including the determination of the amount of the penalty) shall be subject to the provisions of such subsection.
Hearing Any savings and loan holding company or any subsidiary of such a holding company against which any penalty is assessed under this subsection shall be afforded a hearing if such savings and loan holding company or such subsidiary, as the case may be, submits a request for such hearing within 20 days after the issuance of the notice of assessment. Section 1818
Mergers, consolidations, and other acquisitions authorized (1)
(d)(3) [3]
(c) of this title and all other applicable laws, any Federal savings association may acquire or be acquired by any insured depository institution.
Expedited approval of acquisitions (A)
In general Any application by a savings association to acquire or be acquired by another insured depository institution which is required to be filed with the appropriate Federal banking agency for the savings association under any applicable law or regulation shall be approved or disapproved in writing by the appropriate Federal banking agency for the savings association before the end of the 60-day period beginning on the date such application is filed with the agency.
Extension of period The period for approval or disapproval referred to in subparagraph (A) may be extended for an additional 30-day period if the appropriate Federal banking agency for the savings association determines that—
“Acquire” defined For purposes of this subsection, the term “acquire” means to acquire, directly or indirectly, ownership or control through a merger or consolidation or an acquisition of assets or assumption of liabilities, provided that following such merger, consolidation, or acquisition, an acquiring insured depository institution may not own the shares of the acquired insured depository institution.
Required The Comptroller shall prescribe such regulations as may be necessary to carry out paragraph (1).
Effective date The regulations required under subparagraph (A) shall—
Limitation No provision of this section shall be construed to authorize a national bank or any subsidiary thereof to engage in any activity not otherwise authorized under the National Bank Act [12 U.S.C. 21 et seq.] or any other law governing the powers of a national bank.
Exemption for bank holding companies This section shall not apply to a bank holding company that is subject to the Bank Holding Company Act of 1956 [12 U.S.C. 1841 et seq.], or any company controlled by such bank holding company.
(June 13, 1933, ch. 64, § 10, as added Pub. L. 100–86, title IV, § 404(a),Aug. 10, 1987, 101 Stat. 609; amended Pub. L. 101–73, title III, §§ 301, 303
(a), title IX, §§ 905(j), 907(k),Aug. 9, 1989, 103 Stat. 318, 343, 462, 475; Pub. L. 102–242, title II, § 211, title IV, §§ 437–440, title V, § 502(a),Dec. 19, 1991, 105 Stat. 2298, 2381, 2392; Pub. L. 102–550, title XVI, §§ 1606(f)(4), 1607(b),Oct. 28, 1992, 106 Stat. 4088, 4089; Pub. L. 104–201, div. A, title X, § 1077,Sept. 23, 1996, 110 Stat. 2664; Pub. L. 104–208, div. A, title II, §§ 2201(b)(2), 2203
(a)–(c), 2303(e), (g), 2704(d)(12)(B), Sept. 30, 1996, 110 Stat. 3009–403, 3009–404, 3009–424, 3009–425, 3009–490; Pub. L. 106–102, title IV, § 401(a), (b), title VI, § 604(d),Nov. 12, 1999, 113 Stat. 1434, 1436, 1452; Pub. L. 106–569, title XII, §§ 1201(b)(2), 1202,Dec. 27, 2000, 114 Stat. 3032; Pub. L. 109–171, title II, § 2102(b),Feb. 8, 2006, 120 Stat. 9; Pub. L. 109–173, § 9(e)(2),Feb. 15, 2006, 119 Stat. 3617; Pub. L. 111–203, title III, § 369(8), title VI, §§ 604(g), (h)(2), (i), 606(b), 616
(b), 623
(c)–625(a), July 21, 2010, 124 Stat. 1564, 1602–1604, 1607, 1615, 1635, 1636.)
The Bank Holding Company Act of 1956, referred to in subsecs. (a)(1)(D)(ii)(I), (c)(2)(H)(ii), (e)(1)(B)(iii), (m)(3)(C), and (t), is act May 9, 1956, ch. 240, 70 Stat. 133, which is classified principally to chapter 17 (§ 1841 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 1841 of this title and Tables.
The Consumer Financial Protection Act of 2010, referred to in subsec. (b)(4)(A), is title X of Pub. L. 111–203, July 21, 2010, 124 Stat. 1955. Subtitle B of the Act is classified generally to part B (§ 5511 et seq.) of subchapter V of chapter 53 of this title. For complete classification of this Act to the Code, see Short Title note set out under section 5301 of this title and Tables.
Sections 406 and 408 of the National Housing Act, referred to in subsecs. (c)(3)(B)(i)(I), (6)(C)(i), (iv), (e)(1)(A)(iii)(VI), and (q)(1)(F), which were classified to sections 1729 and 1730a of this title, respectively, were repealed by Pub. L. 101–73, title IV, § 407,Aug. 9, 1989, 103 Stat. 363.
The transfer date, referred to in subsec. (e)(7)(B)(iii), probably means the transfer date defined in section 5301 of this title.
(d) of this title, referred to in subsecs. (m)(3)(G) and (s)(1), was amended by Pub. L. 109–173, § 8(a)(4), (5)(D),Feb. 15, 2006, 119 Stat. 3610, 3611, and no longer contains provisions relating to conversion transactions. Section 1815
(d)(3), which related to optional conversions by insured depository institutions, was struck out and section 1815
(d)(1)(C) was redesignated section 1815
Section 1465 of this title, referred to in subsec. (m)(4)(B)(iii), was repealed by Pub. L. 106–569, title XII, § 1201(a),Dec. 27, 2000, 114 Stat. 3032.
The National Bank Act, referred to in subsec. (s)(5), is act June 3, 1864, ch. 106, 13 Stat. 99, which is classified principally to chapter 2 (§ 21 et seq.) of this title. For complete classification of this Act to the Code, see References in Text note set out under section 38 of this title.
The directory language of sections 905(j) and 907(k) ofPub. L. 101–73amending subsec. (i) of this section resulted in the enactment of two virtually identical pars. (2) and (3) both relating to civil money penalties and a par. (5) identical to former par. (4). See 1989 Amendment notes below.
2010—Subsec. (a)(1)(A). Pub. L. 111–203, § 369(8)(A), substituted “appropriate Federal banking agency” for “Director”.
Subsec. (a)(1)(D)(ii). Pub. L. 111–203, § 604(i), amended cl. (ii) generally. Prior to amendment, text read as follows: “The term ‘savings and loan holding company’ does not include a bank holding company that is registered under, and subject to, the Bank Holding Company Act of 1956, or to any company directly or indirectly controlled by such company (other than a savings association).”
Subsec. (a)(1)(F). Pub. L. 111–203, § 369(8)(A), substituted “appropriate Federal banking agency” for “Director”.
Subsec. (a)(2)(D), (3)(A), (4). Pub. L. 111–203, § 369(8)(K), substituted “Board” for “Director”.
Subsec. (b)(1). Pub. L. 111–203, § 369(8)(K), substituted “Board” for “Director” wherever appearing.
Subsec. (b)(2). Pub. L. 111–203, § 604(g), designated existing provisions as subpar. (A), inserted heading, and added subpars. (B) and (C).
Pub. L. 111–203, § 369(8)(K), substituted “Board” for “Director” wherever appearing.
Pub. L. 111–203, § 369(8)(B)(i), struck out “and the regional office of the Director of the district in which its principal office is located,” before “such reports as may be required”.
Subsec. (b)(3). Pub. L. 111–203, § 369(8)(K), substituted “Board” for “Director”.
Subsec. (b)(4). Pub. L. 111–203, § 604(h)(2), added par. (4) and struck out former par. (4). Prior to amendment, text read as follows: “Each savings and loan holding company and each subsidiary thereof (other than a bank) shall be subject to such examinations as the Board may prescribe. The cost of such examinations shall be assessed against and paid by such holding company. Examination and other reports may be furnished by the Board to the appropriate State supervisory authority. The Board shall, to the extent deemed feasible, use for the purposes of this subsection reports filed with or examinations made by other Federal agencies or the appropriate State supervisory authority.”
Subsec. (b)(5). Pub. L. 111–203, § 369(8)(K), substituted “Board” for “Director”.
Subsec. (b)(6). Pub. L. 111–203, § 369(8)(K), substituted “The Board” for “The Director” and “if the Board” for “if the Director”.
Pub. L. 111–203, § 369(8)(B)(ii), which directed substitution of “motion or application of the Board” for “Director’s own motion or application”, was executed by making the substitution for “Director’s own motion or upon application”, to reflect the probable intent of Congress.
Subsec. (c)(2)(F)(i). Pub. L. 111–203, § 369(8)(K), substituted “unless the Board” for “unless the Director”.
Pub. L. 111–203, § 369(8)(C)(i), struck out “of Governors of the Federal Reserve System” after “which the Board”.
Subsec. (c)(2)(G). Pub. L. 111–203, § 369(8)(K), substituted “Board” for “Director”.
Subsec. (c)(2)(H). Pub. L. 111–203, § 606(b), added subpar. (H).
Subsec. (c)(4). Pub. L. 111–203, § 369(8)(K), substituted “Board” for “Director” wherever appearing.
Subsec. (c)(4)(B). Pub. L. 111–203, § 369(8)(C)(ii), struck out “by Director” at end of heading.
Subsec. (c)(5), (6). Pub. L. 111–203, § 369(8)(K), substituted “Board” for “Director” wherever appearing.
Subsec. (c)(6)(D). Pub. L. 111–203, § 369(8)(C)(iii), which directed striking out “by director” in heading, was executed by striking out “by Director” after “Order” in heading, to reflect the probable intent of Congress.
Subsec. (c)(9)(E). Pub. L. 111–203, § 369(8)(K), substituted “Board” for “Director” in two places.
Pub. L. 111–203, § 369(8)(C)(iv), inserted “(in consultation with the appropriate Federal banking agency)” after “including a determination”.
Subsec. (e). Pub. L. 111–203, § 369(8)(K), substituted “Board” for “Director” wherever appearing.
Subsec. (e)(2)(E). Pub. L. 111–203, § 623(c)(1), added subpar. (E).
Subsec. (e)(7). Pub. L. 111–203, § 623(c)(2), added par. (7).
Subsec. (f). Pub. L. 111–203, § 369(8)(K), substituted “Board” for “Director” wherever appearing.
Subsec. (g)(1). Pub. L. 111–203, § 616(b), inserted “, including regulations and orders relating to capital requirements for savings and loan holding companies,” after “issue such regulations and orders” and “In establishing capital regulations pursuant to this subsection, the appropriate Federal banking agency shall seek to make such requirements countercyclical so that the amount of capital required to be maintained by a company increases in times of economic expansion and decreases in times of economic contraction, consistent with the safety and soundness of the company.” at end.
Subsec. (g)(2), (3)(A), (4), (5)(A). Pub. L. 111–203, § 369(8)(K), substituted “Board” for “Director” wherever appearing.
Subsec. (g)(5)(B). Pub. L. 111–203, § 369(8)(K), substituted “The Board” for “The Director”.
Pub. L. 111–203, § 369(8)(D), substituted “the discretion of the Board” for “the Director’s discretion”.
Subsecs. (h) to (j). Pub. L. 111–203, § 369(8)(K), substituted “Board” for “Director” wherever appearing.
Subsec. (l). Pub. L. 111–203, § 369(8)(E), substituted “appropriate Federal banking agency” for “Director” in pars. (1) and (2).
Subsec. (m). Pub. L. 111–203, § 369(8)(F), which directed substitution of “appropriate Federal banking agency” for “Director”, was executed by making the substitution wherever appearing, to reflect the probable intent of Congress.
Subsec. (m)(3)(A). Pub. L. 111–203, § 624(1), added subpar. (A) and struck out former subpar. (A). Prior to amendment, text read as follows: “A savings association that fails to become or remain a qualified thrift lender shall either become one or more banks (other than a savings bank) or be subject to subparagraph (B), except as provided in subparagraph (D).”
Subsec. (m)(3)(B)(i)(III), (IV). Pub. L. 111–203, § 624(2), added subcls. (III) and (IV) and struck out former subcl. (III). Prior to amendment, text of subcl. (III) read as follows: “The savings association shall be subject to all statutes and regulations governing the payment of dividends by a national bank in the same manner and to the same extent as if the savings association were a national bank.”
Subsec. (o)(3). Pub. L. 111–203, § 369(8)(K), substituted “Board” for “Director” wherever appearing.
Subsec. (o)(7). Pub. L. 111–203, § 369(8)(K), substituted “Board” for “Director” in two places.
Subsec. (o)(11). Pub. L. 111–203, § 625(a), added par. (11).
Subsec. (p)(1). Pub. L. 111–203, § 369(8)(G)(i), in introductory provisions, substituted “If the Board or the appropriate Federal banking agency for the savings association determines” for “If the Director determines”, “Board may” for “Director may”, and “as the Board, in consultation with the appropriate Federal banking agency for the savings association determines” for “as the Director determines”.
Subsec. (p)(2). Pub. L. 111–203, § 369(8)(G)(ii), substituted “Board” for “Director” in subpars. (A) and (B).
Subsec. (q). Pub. L. 111–203, § 369(8)(H), substituted “Board” for “Director” wherever appearing.
Subsec. (r). Pub. L. 111–203, § 369(8)(I), substituted “Board or appropriate Federal banking agency” for “Director” wherever appearing.
Subsec. (s)(2). Pub. L. 111–203, § 369(8)(J)(i)(II), substituted “appropriate Federal banking agency for the savings association” for “Director” wherever appearing.
Subsec. (s)(2)(B)(ii). Pub. L. 111–203, § 369(8)(J)(i)(I), substituted “judgment of the appropriate Federal banking agency for the savings association” for “Director’s judgment”.
Subsec. (s)(4)(A). Pub. L. 111–203, § 369(8)(J)(ii), substituted “Comptroller” for “Director”.
2006—Subsec. (c)(6)(D). Pub. L. 109–173, § 9(e)(2)(A), substituted “this chapter” for “this title”.
Subsec. (e)(1)(A)(iii)(VII). Pub. L. 109–171repealed Pub. L. 104–208, § 2704(d)(12)(B)(i). See 1996 Amendment note below.
Subsec. (e)(1)(A)(iv). Pub. L. 109–171repealed Pub. L. 104–208, § 2704(d)(12)(B)(ii). See 1996 Amendment note below.
Subsec. (e)(1)(B). Pub. L. 109–173, § 9(e)(2)(B), substituted “Deposit Insurance Fund” for “Savings Association Insurance Fund or Bank Insurance Fund”.
Pub. L. 109–171repealed Pub. L. 104–208, § 2704(d)(12)(B)(iii). See 1996 Amendment note below.
Subsec. (e)(2). Pub. L. 109–173, § 9(e)(2)(C), substituted “Deposit Insurance Fund” for “Savings Association Insurance Fund or the Bank Insurance Fund” in introductory provisions.
Pub. L. 109–171repealed Pub. L. 104–208, § 2704(d)(12)(B)(iv). See 1996 Amendment note below.
Subsec. (e)(4)(B). Pub. L. 109–173, § 9(e)(2)(D), substituted “subsection (l)” for “subsection (1)”.
Subsec. (g)(3)(A). Pub. L. 109–173, § 9(e)(2)(E), substituted “(5) of this subsection” for “(5) of this section”.
Subsec. (i)(4), (5). Pub. L. 109–173, § 9(e)(2)(F), redesignated par. (5) as (4).
Subsec. (m)(3)(E) to (H). Pub. L. 109–173, § 9(e)(2)(G), redesignated subpars. (F) to (H) as (E) to (G), respectively, and struck out heading and text of former subpar. (E). Text read as follows: “Any bank chartered as a result of the requirements of this section shall be obligated until December 31, 1993, to pay to the Savings Association Insurance Fund the assessments assessed on savings associations under the Federal Deposit Insurance Act. Such association shall also be assessed, on the date of its change of status from a Savings Association Insurance Fund member, the exit fee and entrance fee provided in section 5(d) of the Federal Deposit Insurance Act. Such institution shall not be obligated to pay the assessments assessed on banks under the Federal Deposit Insurance Act until—
“(i) December 31, 1993, or
“(ii) the institution’s change of status from a Savings Association Insurance Fund member to a Bank Insurance Fund member,
Pub. L. 109–171repealed Pub. L. 104–208, § 2704(d)(12)(B)(v). See 1996 Amendment notes below.
Subsec. (m)(7)(A). Pub. L. 109–173, § 9(e)(2)(H), substituted “during the period” for “during period” in concluding provisions.
Subsec. (o)(3)(D). Pub. L. 109–173, § 9(e)(2)(I), substituted “subsections (s) and (t) ofsection 1464 of this title” for “sections 1464
(s) and (t) of this title”.
2000—Subsec. (e)(1)(A)(iii). Pub. L. 106–569, § 1202, in introductory provisions, inserted “, except with the prior written approval of the Director,” after “to acquire, by purchase or otherwise, or to retain” and substituted “acquire or retain, and the Director may not authorize acquisition or retention of,” for “so acquire or retain”.
Subsec. (m)(4)(B)(iii). Pub. L. 106–569, § 1201(b)(2), inserted “as in effect on the day before December 27, 2000,” after “section 1465 of this title,”.
1999—Subsec. (c)(9). Pub. L. 106–102, § 401(a), added par. (9).
Subsec. (m)(3)(B)(i)(III), (IV). Pub. L. 106–102, § 604(d)(1), redesignated subcl. (IV) as (III) and struck out heading and text of former subcl. (III). Text read as follows: “The savings association shall not be eligible to obtain new advances from any Federal home loan bank.”
Subsec. (m)(3)(B)(ii). Pub. L. 106–102, § 604(d)(2), added cl. (ii) and struck out heading and text of former cl. (ii). Text read as follows: “The following additional restrictions shall apply to a savings association beginning 3 years after the date on which the savings association should have become or ceases to be a qualified thrift lender:
“(I) Activities.—The savings association shall not retain any investment (including an investment in any subsidiary) or engage, directly or indirectly, in any activity unless that investment or activity would be permissible for the savings association if it were a national bank, and is also permissible for the savings association as a savings association.
“(II) Advances.—The savings association shall repay any outstanding advances from any Federal home loan bank as promptly as can be prudently done consistent with the safe and sound operation of the savings association.”
Subsec. (o)(5)(E). Pub. L. 106–102, § 401(b), substituted “subsection (c)(2) or (c)(9)(A)(ii) of this section” for “subsection (c)(2) of this section, except subparagraph (B)”.
1996—Subsec. (a)(1)(D). Pub. L. 104–208, § 2203(b), amended heading and text of subpar. (D) generally. Prior to amendment, text read as follows: “The term ‘savings and loan holding company’ means any company which directly or indirectly controls a savings association or controls any other company which is a savings and loan holding company.”
Subsec. (e)(1)(A)(iii)(VII). Pub. L. 104–208, § 2704(d)(12)(B)(i), which directed insertion of “or” at end, was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below.
Pub. L. 104–208, § 2203(c)(1), inserted “or” at end.
Subsec. (e)(1)(A)(iv). Pub. L. 104–208, § 2704(d)(12)(B)(ii), which directed insertion of “and” at end, was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below.
Pub. L. 104–208, § 2203(c)(2), inserted “and” at end.
Subsec. (e)(1)(B). Pub. L. 104–208, § 2704(d)(12)(B)(iii), which directed substitution of “Deposit Insurance Fund” for “Savings Association Insurance Fund or Bank Insurance Fund”, was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.
Subsec. (e)(1)(B)(iii). Pub. L. 104–208, § 2203(c)(3), added cl. (iii).
Subsec. (e)(2). Pub. L. 104–208, § 2704(d)(12)(B)(iv), which directed substitution of “Deposit Insurance Fund” for “Savings Association Insurance Fund or the Bank Insurance Fund”, was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.
Subsec. (m)(1). Pub. L. 104–208, § 2203(e)(3), added subpar. (A), redesignated existing provisions as subpar. (B), and redesignated former subpars. (A) and (B) as cls. (i) and (ii), respectively, of subpar. (B).
Subsec. (m)(3)(E). Pub. L. 104–208, § 2704(d)(12)(B)(v), which directed the amendment of par. (3) by striking subpar. (E) and redesignating subpar. (F) as (E), was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.
Subsec. (m)(3)(F). Pub. L. 104–208, § 2704(d)(12)(B)(v), which directed the amendment of par. (3) by redesignating subpar. (F) as (E), was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.
Pub. L. 104–201substituted “associations serving certain” for “association serving transient” in heading, substituted “company if” for “company if—” and cl. (i), struck out cl. (ii) designation before “at least 90”, and substituted “members” for “officers” in two places. Prior to amendment, cl. (i) read as follows: “the savings and loan holding company is a reciprocal interinsurance exchange that acquired control of the insured institution before January 1, 1984; and”.
Subsec. (m)(3)(G), (H). Pub. L. 104–208, § 2704(d)(12)(B)(v), which directed the amendment of par. (3) by redesignating subpars. (G) and (H) as (F) and (G), respectively, was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.
Subsec. (m)(4). Pub. L. 104–208, § 2303(g)(1), substituted “subsection, the following definitions apply:” for “subsection—” in introductory provisions.
Subsec. (m)(4)(C)(ii)(VII). Pub. L. 104–208, § 2303(g)(2)(A), added subcl. (VII).
Subsec. (m)(4)(C)(iii)(VI). Pub. L. 104–208, § 2303(g)(2)(B), added cl. (VI) and struck out former cl. (VI) which read as follows: “Loans for personal, family, household, or educational purposes, but the dollar amount treated as qualified thrift investments under this subclause may not exceed the amount which is equal to 10 percent of the savings association’s portfolio assets.”
Subsec. (m)(4)(D), (E). Pub. L. 104–208, § 2303(g)(3), added subpars. (D) and (E).
Subsec. (s)(2)(A). Pub. L. 104–208, § 2201(b)(2), substituted “under any” for “under section 5(d)(3) of the Federal Deposit Insurance Act or any other”.
Subsec. (t). Pub. L. 104–208, § 2203(a), added subsec. (t).
1992—Subsec. (m)(1), (3)(D). Pub. L. 102–550, § 1606(f)(4), amended Pub. L. 102–242, § 437. See 1991 Amendment note below.
Subsecs. (s), (t). Pub. L. 102–550, § 1607(b), redesignatedsubsec. (t) as (s).
1991—Subsec. (e)(1). Pub. L. 102–242, § 211(1), inserted after subpar. (B) “Consideration of the managerial resources of a company or savings association under subparagraph (B) shall include consideration of the competence, experience, and integrity of the officers, directors, and principal shareholders of the company or association.”
Subsec. (e)(2). Pub. L. 102–242, § 211(2)(A), inserted after second sentence “Consideration of the managerial resources of a company or savings association shall include consideration of the competence, experience, and integrity of the officers, directors, and principal shareholders of the company or association.”
Subsec. (e)(2)(C), (D). Pub. L. 102–242, § 211(2)(B)–(D), added subpars. (C) and (D).
Subsec. (m)(1)(A). Pub. L. 102–242, § 437(b)(1), as added by Pub. L. 102–550, § 1606(f)(4)(B), substituted “65 percent” for “70 percent”.
Subsec. (m)(1)(B). Pub. L. 102–242, § 437(a), as amended by Pub. L. 102–550, § 1606(f)(4)(A), amended subpar. (B) generally. Prior to amendment, subpar. (B) read as follows: “the savings association’s qualified thrift investments continue to equal or exceed 70 percent of the savings association’s portfolio assets, as measured by a daily or weekly average of such qualified thrift investments and such portfolio assets, for the 2-year period beginning on July 1, 1991, and for each 2-year period thereafter.”
Subsec. (m)(3)(D). Pub. L. 102–242, § 437(b)(2), as added by Pub. L. 102–550, § 1606(f)(4)(B), substituted “on a monthly average basis in 9 out of the preceding 12 months” for “for the preceding 2-year period”.
Subsec. (m)(4)(B)(iii). Pub. L. 102–242, § 438, substituted “20 percent” for “10 percent”.
Subsec. (m)(4)(C)(ii). Pub. L. 102–242, § 439(1), added subcl. (VI).
Subsec. (m)(4)(C)(iii)(VI). Pub. L. 102–242, § 440(a), substituted “10 percent” for “5 percent”.
Subsec. (m)(4)(C)(iii)(VII). Pub. L. 102–242, § 439(2), added subcl. (VII).
Subsec. (m)(4)(C)(iv). Pub. L. 102–242, § 440(b), substituted “20 percent” for “15 percent”.
Subsec. (t). Pub. L. 102–242, § 502(a), added subsec. (t).
1989—Pub. L. 101–73, § 301, amended section generally, substituting subsecs. (a) to (r) relating to regulation of holding companies for former subsecs. (a) to (d) relating to thrift industry recovery regulations.
Subsec. (i)(1). Pub. L. 101–73, § 907(k)(1), added par. (1) and struck out former par. (1) which related to criminal penalties.
Subsec. (i)(2). Pub. L. 101–73, § 907(k)(1), (2), redesignated par. (3) as (2) and struck out former par. (2) which related to penalties for making false entries.
Subsec. (i)(3), (4). Pub. L. 101–73, § 907(k)(2), (3), redesignated par. (4), relating to notice after separation from service, as (3) and amended par. (3) generally, substituting provisions relating to and penalties for provisions relating to notice after separation from service. Former par. (3) redesignated (2). See Codification note above.
Subsec. (i)(5). Pub. L. 101–73, § 905(j), added par. (5).
Subsec. (m). Pub. L. 101–73, § 303(a), amended subsec. (m) generally, revising and restating as pars. (1) to (7) provisions of former pars. (1) to (6).
Amendment by section 369(8) ofPub. L. 111–203effective on the transfer date, see section 351 ofPub. L. 111–203, set out as a note under section 906 of Title 2, The Congress.
Amendment by section 604(g), (h)(2), (i) ofPub. L. 111–203effective on the transfer date, see section 604(j) ofPub. L. 111–203, set out as a note under section 1462 of this title.
Pub. L. 111–203, title VI, § 606(c),July 21, 2010, 124 Stat. 1607, provided that: “The amendments made by this section [amending this section and section 1843 of this title] shall take effect on the transfer date.”
[For definition of “transfer date” as used in section 606(c) ofPub. L. 111–203, set out above, see section 5301 of this title.]
Pub. L. 111–203, title VI, § 616(e),July 21, 2010, 124 Stat. 1616, provided that: “The amendments made by this section [enacting section 1831o–1 of this title and amending this section and sections 1844 and 3907 of this title] shall take effect on the transfer date.”
[For definition of “transfer date” as used in section 616(e) ofPub. L. 111–203, set out above, see section 5301 of this title.]
Amendment by sections 623(c), 624 ofPub. L. 111–203effective 1 day after July 21, 2010, except as otherwise provided, see section 4 ofPub. L. 111–203, set out as an Effective Date note under section 5301 of this title.
Pub. L. 111–203, title VI, § 625(b),July 21, 2010, 124 Stat. 1638, provided that: “The amendment made by subsection (a) [amending this section] shall take effect on the transfer date.”
[For definition of “transfer date” as used in section 625(b) ofPub. L. 111–203, set out above, see section 5301 of this title.]
Amendment by section 2704(d)(12)(B) ofPub. L. 104–208effective Jan. 1, 1999, if no insured depository institution is a savings association on that date, see section 2704(c) ofPub. L. 104–208, formerly set out as a note under section 1821 of this title.
Pub. L. 101–73, title III, § 303(b),Aug. 9, 1989, 103 Stat. 350, provided that: “The amendment made by subsection (a) [amending this section] shall take effect on July 1, 1991.”
Amendment by section 301 ofPub. L. 101–73relating to civil penalties applicable with respect to violations committed and activities engaged in after Aug. 9, 1989, except that the increased maximum civil penalties of $5,000 and $25,000 per violation or per day may apply to such violations or activities committed or engaged in before such date with respect to an institution if such violations or activities (1) are not already subject to a notice issued by the appropriate Federal banking agency or the Board (initiating an administrative proceeding); and (2) occurred after the completion of the last report of examination of the institution by the appropriate Federal banking agency (as defined in section 1813 of this title) occurring before Aug. 9, 1989, see section 305(c) ofPub. L. 101–73, set out as a note under section 1461 of this title.
Amendment by section 907(k) ofPub. L. 101–73applicable to conduct engaged in after Aug. 9, 1989, except that increased maximum penalties of $5,000 and $25,000 may apply to conduct engaged in before such date if such conduct is not already subject to a notice issued by the appropriate agency and occurred after completion of the last report of the examination of the institution by the appropriate agency occurring before Aug. 9, 1989, see section 907(l) ofPub. L. 101–73, set out as a note under section 93 of this title.
Pub. L. 101–73, title III, § 302,Aug. 9, 1989, 103 Stat. 343, as amended by Pub. L. 111–203, title III, § 367(2),July 21, 2010, 124 Stat. 1556, provided that: “Notwithstanding the amendment made by this title to section 10 of the Home Owners’ Loan Act [12 U.S.C. 1467a] and the repeal of section 416 of the National Housing Act [12 U.S.C. 1730i]—
“(1) any plan approved by the Federal Home Loan Bank Board under such section 10 for any Federal savings association shall continue in effect as long as such association adheres to the plan and continues to submit to the Comptroller of the Currency regular and complete reports on the association’s progress in meeting the association’s goals under the plan; and
“(2) any plan approved by the Federal Savings and Loan Insurance Corporation under such section 416 for any State savings association shall continue in effect as long as such association adheres to the plan and continues to submit to the Federal Deposit Insurance Corporation regular and complete reports on the association’s progress in meeting the savings association’s goals under the plan.”
Rule of Construction for Certain Applications
Pub. L. 106–102, title IV, § 401(c),Nov. 12, 1999, 113 Stat. 1436, provided that:
“(1) In general.—In the case of a company that—
“(A) submits an application with the Director of the Office of Thrift Supervision before the date of the enactment of this Act [Nov. 12, 1999] to convert a State-chartered trust company controlled by such company on May 4, 1999, to a savings association; and
“(B) controlled a subsidiary on May 4, 1999, that had submitted an application to the Director on September 2, 1998;
the company (including any subsidiary controlled by such company as of such date of enactment [Nov. 12, 1999]) shall be treated as having filed such conversion application with the Director before May 4, 1999, for purposes of section 10(c)(9)(C) of the Home Owners’ Loan Act [12 U.S.C. 1467a
(c)(9)(C)] (as added by subsection (a)).
“(2) Definitions.—For purposes of paragraph (1), the terms ‘company’, ‘control’, ‘savings association’, and ‘subsidiary’ have the meanings given those terms in section 10 of the Home Owners’ Loan Act.”
Associations That Have Previously Failed to Remain Qualified Thrift Lenders
Pub. L. 101–73, title III, § 303(c),Aug. 9, 1989, 103 Stat. 351, provided that: “If, as of June 30, 1991, any savings association is subject to any provision of section 10(m)(3) of the Home Owners’ Loan Act [12 U.S.C. 1467a
(m)(3)] as in effect on that date, the amendment to this subsection made by section 303 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 [Pub. L. 101–73], shall not be construed as reducing the period specified in section 10(m)(3) of such Act.”
Capital Recovery; Submission of Proposed Regulations to Congress; Effective Date; Study, Report, and Congressional Review
Pub. L. 100–86, title IV, § 404(c)–(e), Aug. 10, 1987, 101 Stat. 612, required the Federal Home Loan Bank Board and the Federal Savings and Loan Insurance Corporation to each submit a report to Congress containing the proposed regulations required to be prescribed under 12 U.S.C. 1467a and 1730i of this title not later than the end of the 90-day period beginning on Aug. 10, 1987; required the regulations to be implemented not later than the end of the 150-day period beginning on Aug. 10, 1987; and required, not later than Jan. 31, 1989, a detailed evaluation of, and report the effectiveness of, the regulations in achieving an increased level of capitalization for thrift institutions.
Section ceases to be effective on date that notice of completion of all net new borrowing by Financing Corporation is published in Federal Register [Mar. 30, 1992, 57 F.R. 10763], with such termination not to be construed to affect or limit any authority of Federal Home Loan Bank Board or Federal Savings and Loan Insurance Corporation to prescribe any regulation or engage in any activity with respect to any association or insured institution under any other provision of law, see section 416 ofPub. L. 100–86, set out as a note under section 1441 of this title.
This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.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.12 CFR - Banks and Banking12 CFR Part 109 - RULES OF PRACTICE AND PROCEDURE IN ADJUDICATORY PROCEEDINGS12 CFR Part 112 - RULES FOR INVESTIGATIVE PROCEEDINGS AND FORMAL EXAMINATION PROCEEDINGS12 CFR Part 143 - FEDERAL MUTUAL SAVINGS ASSOCIATIONS—INCORPORATION, ORGANIZATION, AND CONVERSION12 CFR Part 144 - FEDERAL MUTUAL SAVINGS ASSOCIATIONS—CHARTER AND BYLAWS12 CFR Part 146 - FEDERAL MUTUAL SAVINGS ASSOCIATIONS—MERGER, DISSOLUTION, REORGANIZATION, AND CONVERSION12 CFR Part 152 - FEDERAL STOCK ASSOCIATIONS—INCORPORATION, ORGANIZATION, AND CONVERSION12 CFR Part 160 - LENDING AND INVESTMENT12 CFR Part 161 - DEFINITIONS FOR REGULATIONS AFFECTING ALL SAVINGS ASSOCIATIONS12 CFR Part 163 - SAVINGS ASSOCIATIONS—OPERATIONS12 CFR Part 167 - CAPITAL12 CFR Part 168 - SECURITY PROCEDURES12 CFR Part 170 - SAFETY AND SOUNDNESS GUIDELINES AND COMPLIANCE PROCEDURES12 CFR Part 171 - FAIR CREDIT REPORTING12 CFR Part 192 - CONVERSIONS FROM MUTUAL TO STOCK FORM12 CFR Part 217 - [Reserved]12 CFR Part 238 - SAVINGS AND LOAN HOLDING COMPANIES (REGULATION LL)12 CFR Part 239 - MUTUAL HOLDING COMPANIES (REGULATION MM)12 CFR Part 252 - ENHANCED PRUDENTIAL STANDARDS (REGULATION YY)12 CFR Part 261 - RULES REGARDING AVAILABILITY OF INFORMATION12 CFR Part 262 - RULES OF PROCEDURE12 CFR Part 263 - RULES OF PRACTICE FOR HEARINGS12 CFR Part 502 - ASSESSMENTS AND FEES12 CFR Part 509 - RULES OF PRACTICE AND PROCEDURE IN ADJUDICATORY PROCEEDINGS12 CFR Part 512 - RULES FOR INVESTIGATIVE PROCEEDINGS AND FORMAL EXAMINATION PROCEEDINGS12 CFR Part 513 - PRACTICE BEFORE THE OFFICE12 CFR Part 533 - DISCLOSURE AND REPORTING OF CRA-RELATED AGREEMENTS12 CFR Part 536 - CONSUMER PROTECTION IN SALES OF INSURANCE12 CFR Part 543 - FEDERAL MUTUAL SAVINGS ASSOCIATIONS—INCORPORATION, ORGANIZATION, AND CONVERSION12 CFR Part 544 - FEDERAL MUTUAL SAVINGS ASSOCIATIONS—CHARTER AND BYLAWS12 CFR Part 546 - FEDERAL MUTUAL SAVINGS ASSOCIATIONS—MERGER, DISSOLUTION, REORGANIZATION, AND CONVERSION12 CFR Part 552 - FEDERAL STOCK ASSOCIATIONS—INCORPORATION, ORGANIZATION, AND CONVERSION12 CFR Part 558 - POSSESSION BY CONSERVATORS AND RECEIVERS FOR FEDERAL AND STATE SAVINGS ASSOCIATIONS12 CFR Part 560 - LENDING AND INVESTMENT12 CFR Part 561 - DEFINITIONS FOR REGULATIONS AFFECTING ALL SAVINGS ASSOCIATIONS12 CFR Part 563 - SAVINGS ASSOCIATIONS—OPERATIONS12 CFR Part 563b - CONVERSIONS FROM MUTUAL TO STOCK FORM12 CFR Part 563e - COMMUNITY REINVESTMENT12 CFR Part 567 - CAPITAL12 CFR Part 568 - SECURITY PROCEDURES12 CFR Part 570 - SAFETY AND SOUNDNESS GUIDELINES AND COMPLIANCE PROCEDURES12 CFR Part 571 - FAIR CREDIT REPORTING12 CFR Part 574 - ACQUISITION OF CONTROL OF SAVINGS ASSOCIATIONS12 CFR Part 575 - MUTUAL HOLDING COMPANIES12 CFR Part 583 - DEFINITIONS FOR REGULATIONS AFFECTING SAVINGS AND LOAN HOLDING COMPANIES12 CFR Part 584 - SAVINGS AND LOAN HOLDING COMPANIES12 CFR Part 585 - PROHIBITED SERVICE AT SAVINGS AND LOAN HOLDING COMPANIES
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