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1000 - Federal Deposit Insurance Act
{{4-28-06 p.1105}}
SEC. 6. FACTORS TO BE CONSIDERED.
The factors that are required, under
section 4, to be considered in
connection with, and enumerated in, any certificate issued pursuant to
section 4 and that are required, under section 5, to be considered by
the Board of Directors in connection with any determination by such
Board pursuant to section 5 are the following:
(1) The financial history and condition of the depository
institution.
(2) The adequacy of the depository institution's capital
structure.
(3) The future earnings prospects of the depository institution.
(4) The general character and fitness of the management of the
depository institution.
(5) The risk presented by such depository institution to the
Deposit Insurance Fund.
(6) The convenience and needs of the community to be served by
such depository institution.
(7) Whether the depository institution's corporate powers are
consistent with the purposes of this Act.
[Codified to 12 U.S.C. 1816]
[Source: Section 2[6] of the Act of September 21, 1950 (Pub. L.
No. 797; 64 Stat. 876), effective September 21, 1950, as amended by
section 207 of title II of the Act of August 9, 1989 (Pub. L. No.
101--73; 103 Stat. 206), effective August 9, 1989; section 8(a)(7) of
the Act of February 15, 2006 (Pub. L. No. 109--173; 119 Stat. 3611),
effective date shall take effect on the day of the merger of the Bank
Insurance Fund and the Savings Association Insurance Fund pursuant to
the Federal Deposit Insurance Reform Act of 2005]
NOTE
Derivation. Section 6 derives from section 12B(g) of the
Federal Reserve Act, as added by section 101[12B(g)] of title I of
the Act of August 23, 1935 (Pub. L. No. 305; 49 Stat. 688), effective
August 23, 1935. By section 1 of the Act of September 21, 1950 (Pub. L.
No. 797; 64 Stat. 873), effective September 21, 1950, section 12B of
the Federal Reserve Act was withdrawn as a part of that Act and was
made a separate act known as the "Federal Deposit Insurance Act."
[The page following this is 1111.]
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