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2000 - Rules and Regulations
Subpart D—Acquiring, Establishing, or Conducting New
Activities Through a Subsidiary by an Insured Savings
Association
§ 362.14 Purpose and scope.
This subpart implements section 18(m) of the Federal Deposit
Insurance Act (12 U.S.C.
1828(m)) which requires that prior notice be given the FDIC
when an insured savings association establishes or acquires a
subsidiary or engages in any new activity in a subsidiary. For the
purposes of this subpart, the term "subsidiary" does not include
any insured depository institution as that term is defined in the
Federal Deposit Insurance Act. Unless otherwise indicated, the
definitions provided in
§ 362.2 apply to this
subpart.
[Codified to 12 C.F.R. § 362.14]
§ 362.15 Acquiring or establishing a subsidiary; conducting new
activities through a subsidiary.
No state or federal insured savings association may establish or
acquire a subsidiary, or conduct any new activity through a subsidiary,
unless it files a notice in compliance with
§ 303.142(c) of this
chapter at least 30 days prior to establishment of the subsidiary or
commencement of the activity and the FDIC does not object to the
notice. This requirement does not apply to any federal savings bank
that was chartered prior to October 15, 1982, as a savings bank under
state law or any savings association that acquired its principal assets
from such an institution.
[Codified to 12 C.F.R. § 362.15]
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