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FDIC Federal Register Citations



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FDIC Federal Register Citations

-----Original Message-----

From: CT Head
Sent: Monday, October 21, 2002 4:57 PM
To: Comments

Subject: RE: Insurance of State Banks Chartered as Limited Liability
 

Mr. Robert D. Feldman
Executive Secretary
Attn: Comments/OES
Federal Deposit Insurance Corporation
550 17th St NW
Washington, DC 20429-0002

RE: Insurance of State Banks Chartered as Limited Liability Companies

Dear Mr. Feldman:

I believe that banks organized as Limited Liability Corporations, or comparable entities, should be allowed FDIC coverage. As long as such entities are regulated for safety and soundness the same as other banks, I see no reason for such entities not to qualify. Small banks may have opportunity to compete more effectively by organizing under a charter that allows tax savings. I feel that a bank in this situation should still be allowed to have FDIC coverage.


Sincerely,
C. T. Head
President
Mills County State Bank
Goldthwaite, TX
Last Updated 10/22/2002 regs@fdic.gov

Last Updated: August 4, 2024