|
[Main Tabs]
[Table of Contents - 2000]
[Index]
[Previous Page]
[Next Page]
[Search]
2000 - Rules and Regulations
Subpart H—Activities of Insured Savings
Associations
§ 303.140 Scope.
This subpart sets forth procedures for complying with the notice and
application requirements contained in
subpart C of part 362 of
this chapter, governing insured state savings associations and their
service corporations engaging in activities which are not permissible
for federal savings associations and their service corporations. This
subpart also sets forth procedures for complying with the notice
requirements contained in subpart
D of part 362 of this chapter, governing insured savings
associations which establish or engage in new activities through a
subsidiary.
[Codified to 12 C.F.R.
§ 303.140]
§ 303.141 Filing procedures.
(a) Where to file. All applications and notices required
by subpart C or subpart D of part 362 of this chapter are to be in
writing and filed with the appropriate FDIC office.
(b) Contents of filing--(1) Filings generally.
A complete letter notice or letter application shall include the
following information:
(i) A brief description of the activity and the manner in which
it will be conducted;
(ii) The amount of the association's existing or proposed direct
or indirect investment in the activity as well as calculations
sufficient to indicate compliance with any specific capital ratio or
investment percentage limitation detailed in subpart C or D or part 362
of this chapter;
(iii) A copy of the association's business plan regarding the
conduct of the activity;
(iv) A citation to the state statutory or regulatory authority
for the conduct of the activity;
(v) A copy of the order or other document from the appropriate
regulatory authority granting approval for the association to conduct
the activity if such approval is necessary and has already been
granted;
(iv) A brief description of the association's policy and
practice with regard to any anticipated involvement in the activity by
a director, executive officer or principal shareholder of the
association or any related interest of such a person; and
(vii) A description of the association's expertise in the
activity.
(2) [Reserved]
(3) Copy of application or notice filed with another
agency. If an insured savings association has filed an application
or notice with another federal or state regulatory authority which
contains all of the information required by paragraph (b)(1) of this
section, the insured state bank may submit a copy to the FDIC in lieu
of a separate filing.
(4) Additional information. The FDIC may request
additional information to complete processing.
[Codified to 12 C.F.R.
§ 303.141]
§ 303.142 Processing.
(a) Expedited processing. A notice filed by an insured
state savings association seeking to commence or continue an activity
under § 362.11(b)(2)(ii) of this chapter will be acknowledged in
writing by the FDIC and will receive expedited processing, unless the
applicant is notified in writing to the contrary and provided a basis
for that decision. The FDIC may remove the notice from expedited
processing for any of the reasons set forth in § 303.11(c)(2). Absent
such removal, a notice processed under expedited processing is deemed
approved 30 days after receipt of a complete notice by the FDIC
(subject to extension for an additional 15 days upon written notice to
the bank) or on such earlier date authorized by the FDIC in writing.
(b) Standard processing for applications and notices that
have been removed from expedited processing. For an application
filed by an insured state savings association seeking to commence or
continue an activity under § 362.11(a)(2)(ii), § 362.11(b)(2)(i),
§ 362.12(b)(1) of this chapter or for notices which are not processed
pursuant to the
{{4-28-06 p.2068.01}}expedited processing
procedures, the FDIC will provide the insured state savings association
with written notification of the final action as soon as the decision
is rendered. The FDIC will normally review and act in such cases within
60 days after receipt of a completed application or notice (subject to
extension for an additional 30 days upon written notice to the bank),
but failure of the FDIC to act prior to the expiration of these periods
does not constitute approval.
(c) Notices of activities in excess of an amount permissible
for a federal savings association; subsidiary notices. Receipt of
a notice filed by an insured state savings association as required by
§ 362.11(b)(3) or § 362.15 of this chapter will be acknowledged in
writing by the FDIC. The notice will be reviewed at the appropriate
FDIC office, which will take such action as it deems necessary and
appropriate.
[Codified to 12 C.F.R.
§ 303.142]
§ 303.143--303.159 [Reserved]
[Main Tabs]
[Table of Contents - 2000]
[Index]
[Previous Page]
[Next Page]
[Search]
|
