303 304 305 306 Applications, requests, and submittals. Forms, instructions, and reports. Payment of insured deposits. Receiverships and liquidations. 307 Voluntary termination of insured status. 308 Involuntary termination of insured status. 309 Confidential and privileged records and information. SUBCHAPTER B-REGULATIONS AND STATEMENTS OF GENERAL POLICY 325 327 328 329 330 331 332 333 334 335 Introductory. Assessments. Advertisement of membership. Payment of deposits and interest thereon by insured nonmember banks. Insurance of trust funds. Powers inconsistent with purposes of Federal deposit insurance law. Bank service arrangements. Securities of insured State nonmember banks. 336 Employee responsibilities and conduct. 337-399 [Reserved] SUBCHAPTER A-PROCEDURE AND RULES OF PRACTICE PART 301-INTRODUCTORY § 301.1 Scope. The rules contained in this subchapter are promulgated pursuant to the provisions of the Administrative Procedure Act (60 Stat. 237), the Federal Deposit Insurance Act (12 U.S.C. 1811-1831), and other applicable laws. In accordance with the provisions of section 3(a) (2) of the Administrative Procedure Act (sec. 3(a) (2), 60 Stat. 238) they state the general course and method by which the Corporation's functions with respect to deposit insurance are channeled and determined, including the nature and requirements of formal or informal procedures available as well as forms and instructions as to the scope and contents of papers and reports. This subchapter also includes appropriate provisions with respect to rule making, adjudications, and hearings, as prescribed by law. Proceedings by the Corporation within the meaning of this subchapter include: (a) The formulation and promulgation of rules and regulations, including amendments thereto or the repeal thereof; (b) The disposition of applications, requests, and submittals; (c) Formal hearings and adjudica- (Sec. 9, 64 Stat. 881; 12 U.S.C. 1819) [15 Any interested person may petition the Corporation for the issuance, amendment, or repeal of any rule by submitting such petition in writing together with a complete and concise statement of the petitioner's interest in the subject matter and the reasons why the petition should be granted. Such petition should be submitted to the Secretary. § 302.5 Effective date. Any rule issued by the Corporation will be published or served not less than thirty (30) days prior to the effective date thereof except as specified in § 302.6 or otherwise excepted by law. § 302.6 Exceptions. Whenever the Corporation finds that notice of, and public participation in, rule making is impracticable, unnecessary, or contrary to the public interest, or there is good cause why the effective date of any rule should not be deferred for thirty (30) days, the provisions of §§ 302.1, 302.2, and 302.5 shall not apply; and any such rule when published will incorporate the finding and a brief statement of the reasons therefor. § 302.7 Amendment and repeal. The right to alter, amend, or repeal the whole or any part of any rule except as otherwise provided by law, is expressly reserved. PART 303-APPLICATIONS, REQUESTS, AND SUBMITTALS Sec. 303.1 303.2 303.3 303.4 303.5 303.6 303.7 303.8 303.9 303.10 303.11 Application by nonmember bank for deposit insurance. Application by State nonmember in- Application for use of other official Other applications. Procedure on applications. Notice of disposition of application. AUTHORITY: The provisions of this Part 303 issued under secs. 5, 6, 8, 9, 18, 19, 64 Stat. 876, 879, 881, 891, 893; 12 U.S.C. 1815, 1816, 1818, 1819, 1828, 1829. SOURCE: The provisions of this Part 303 appear at 15 F.R. 8628, Dec. 6, 1950, unless otherwise noted. Application for deposit insurance by an existing or proposed State nonmember bank should be filed with the Supervising Examiner of the Federal Deposit Insurance District in which the bank or proposed bank is or will be located. Any such application (a) by an existing bank must be accompanied by separate applications for the consent of the Corporation to the continued operation of each branch which it proposes to continue to operate; (b) by a proposed bank must be accompanied by a separate application for the consent of the Corporation to establish and operate each proposed 1 A nonmember bank is a bank which is not a member of the Federal Reserve System. branch. The appropriate forms of application and instructions for completing the same may be obtained upon request from the Supervising Examiner of the District in which the application originates. (See Part 304 of this subchapter for list of forms and instructions.) [15 F.R. 8628, Dec. 6, 1950, as amended at 19 F.R. 1666, Mar. 27, 1954] § 303.2 Application by State nonmember insured bank to establish a branch. Application by a State nonmember insured bank (except a District bank) to establish and operate a new branch should be filed with the Supervising Examiner of the Federal Deposit Insurance District in which the bank is located. The appropriate form of application and instructions for completing the same may be obtained upon request from the Supervising Examiner of the District in which the application originates. (See Part 304 of this subchapter for list of forms and instructions.) [15 F.R. 8628, Dec. 6, 1950, as amended at 19 F.R. 1666, Mar. 27, 1954] § 303.3 Application by State nonmember insured bank to move main office or branch. Application for the consent of the Corporation to move the main office or branch of a State nonmember insured bank (except a District bank) should be filed with the Supervising Examiner of the Federal Deposit Insurance District in which the bank is located. The appropriate form of application and instructions for completing the same "The term 'branch' includes any branch bank, branch office, branch agency, additional office, or any branch place of business located in any State of the United States or in any Territory of the United States, Puerto Rico, Guam, or the Virgin Islands at which deposits are received or checks paid or money lent." (Sec. 3(0), 64 Stat. 875, as amended; 12 U.S.C. 1813 (0)) may be obtained upon request from the Supervising Examiner of the District in which the application originates. (See Part 304 of this subchapter for list of forms and instructions.) § 303.4 Application by insured State nonmember bank to reduce or retire capital. Application for the consent of the Corporation to the reduction in the amount, or retirement of any part, of the common or preferred capital stock, or retirement of any part of the capital notes or debentures, of an insured State nonmember bank (except a District bank) should be filed with the Supervising Examiner of the Federal Deposit Insurance District in which the bank is located. The appropriate form of application and instructions for completing the same may be obtained upon request from the Supervising Examiner of the District in which the application originates. (See Part 304 of this subchapter for list of forms and instructions.) § 303.5 Application for conversion, merger, consolidation, assumption and sale of asset transactions. (a) With noninsured bank or institution. Application by an insured bank for the consent of the Corporation to merge or consolidate with a noninsured bank or institution, or to convert into a noninsured institution, or to assume liability to pay any deposits made in, or similar liabilities of, any noninsured bank or institution, or to transfer assets to any noninsured bank or institution in consideration of the assumption of liability for any portion of the deposits made in such insured bank, together with copies of all agreements or proposed agreements relating thereto, should be filed with the Supervising Examiner of the Federal Deposit Insurance District in which the insured bank is located. The appropriate form of application and instructions for completing the form as well as instructions concerning notice to depositors may be obtained upon request from the office of said Supervising Examiner. (b) Conversion with diminution of capital or surplus. Application for the consent of the Corporation to convert into an insured State nonmember bank (except a District bank)—when the conversion will result in the converted bank having less capital stock or surplus than the converted bank at the time of the shareholders' meeting approving such conversion-together with copies of the charter and/or articles of association of the converted bank, should be filed with the Supervising Examiner of the Federal Deposit Insurance District in which the insured bank is located. The appropriate form of application and instructions for completing the form may be obtained upon request from the office of said Supervising Examiner. (c) Merger, consolidation, asset acquisition or assumption transaction between insured banks. Application by an insured bank for the consent of the Corporation to merge or consolidate with, acquire the assets of, or assume the liability to pay any deposits made in, another insured bank-when the resulting or assuming bank is to be an insured State nonmember bank (except a District bank)-together with copies of all agreements or proposed agreements relating thereto, including the charter or articles of incorporation of the resulting or assuming bank, should be filed with the Supervising Examiner of the Federal Deposit Insurance District in which the resulting or assuming bank is located. The appropriate form of application and instructions for completing the same may be obtained upon request from the office of said Supervising Examiner. [15 F.R. 8628, Dec. 6, 1950, as amended at 26 F.R. 291, Jan. 14, 1961] § 303.6 Application by State nonmember insured bank to extend its corporate or charter powers. Application for the consent of the Corporation to the extension of the corporate or charter powers of a State nonmember insured bank (except a District bank) should be filed with the Supervising Examiner of the Federal Deposit Insurance District in which the bank is located. The appropriate form of application and instructions for completing the same may be obtained upon request from the Supervising Examiner of the District in which the application originates. (See Part 304 of this subchapter for list of forms and instructions.) |