FDIC Law, Regulations, Related Acts
2000 - Rules and Regulations
Subpart DAcquiring, 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.
§ 362.15 Acquiring or establishing a subsidiary; conducting new activities through a subsidiary.
No state 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 section does not apply to any state savings association that acquired its principal assets from a Federal savings bank that was chartered prior to October 15, 1982, as a savings bank under state law.
[Codified to 12 C.F.R. § 362.15]
[Section 362.15 amended at 86 Fed. Reg. 8104, February 3, 2021, effective March 5, 2021]