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CHAPTER 111-FEDERAL DEPOSIT INSURANCE

CORPORATION

SUBCHAPTER A-PROCEDURE AND RULES OF PRACTICE Part 301 Introductory. 302 Formulation and promulgation of rules and regulations. 303

Applications, requests, and submittals. 304 Forms, instructions, and reports. 305 Payment of insured deposits. 306 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

Introductory.
Assessments.
Advertisement of membership.
Payment of deposits and interest thereon by insured nonmember banks.
Recognition of deposit ownership not on bank records.
Insurance of trust funds.
Powers inconsistent with purposes of Federal deposit insurance law.
Extension of corporate powers.

SUBCHAPTER A PROCEDURE AND RULES OF PRACTICE

PART 301—INTRODUCTORY

repeal thereof, will be published in the FEDERAL REGISTER, except as specified in $ 302.6, or other ise excepted by law. Such notice will include either the terms or substance of the proposed rule or a description of the subjects and issues involved, reference to the authority under which the rule is proposed, and a statement of the time, place, and nature of the public proceedings for making the rule.

§ 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 repeel thereof;

(b) The disposition of applications, requests, and submittals;

(c) Formal hearings and adjudications. (Sec. 9, 64 Stat. 881; 12 U. S. C. 1819) (15 F.R. 8628, Dec. 6, 1950, as amended at 26 F.R. 291, Jan. 14, 1961)

§ 302.2 Public participation.

Interested persons will be afforded an opportunity to participate in the making of any rule, except as specified in $ 302.6, or otherwise excepted by law, through the submission of written data, views, or arguments, unless the board of directors shall specifically provide an opportunity for the oral presentation thereof.

§ 302.3 Formulation of rules.

After consideration of all revelant matter presented, the Special Committee will submit its recommendations to the board of directors and, in collaboration with appropriate Divisions, will prepare drafts of any proposed rules or amendments. The board of directors will take such action thereon as it deems appropriate and in any rule adopted will incorporate therein a concise general statement of Its basis and purpose. (15 F. R. 8628, Dec. 6, 1950, as amended at 19 F. R. 1666, Mar. 27, 1954)

PART 302-FORMULATION AND

PROMULGATION OF RULES AND

REGULATIONS Sec. 802.1 Notice. 302.2 Public participation. 302.3 Formulation of rules. 302.4 Petitions. 302.5 Effective date. 302.6 Exceptions. 302.7 Amendment and repeal.

AUTHORITY: $$ 302.1 to 302.7 issued under sec. 9, 64 Stat. 881; 12 U.S.C. 1819.

SOURCE: $$ 302.1 to 302.7 appear at 16 F. R. 8628, Dec. 6, 1950, except as otherwise noted. $ 302.1 Notice.

General notice of proposed rule making, including amendments thereto or

$ 302.4 Petitions.

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.

proposed bank is or will be located. Any Whenever the Corporation finds that

such application (a) by an existing bank

must be accompanied by separate applinotice of, and public participation in,

cations for the consent of the Corporarule making is impracticable, unneces

tion to the continued operation of each sary, or contrary to the public interest,

branch which it proposes to continue to or there is good cause why the effective

operate; (b) by a proposed bank must date of any rule should not be deferred

be accompanied by a separate application for thirty (30) days, the provisions of

for the consent of the Corporation to $$ 302.1, 302.2, and 302.5 shall not apply;

establish and operate each proposed and any such rule when published will

branch. The appropriate forms of apincorporate the finding and a brief state

plication and instructions for completment of the reasons therefor.

ing the same may be obtained upon re$ 302.7 Amendment and repeal.

quest from the Supervising Examiner of

the District in which the application The right to alter, amend, or repeal the whole or any part of any rule except

originates. (See Part 304 of this sub

chapter for list of forms and instrucas otherwise provided by law, is expressly

tions.) reserved.

(15 F. R. 8628, Dec. 6, 1950, as amended at

19 F. R. 1666. Mar. 27, 1954) PART 303—APPLICATIONS, REQUESTS, AND SUBMITTALS

$ 303.2 Application by State nonmemSec.

ber insured bank to establish 303.1 Application by nonmember bank for branch. deposit Insurance.

Application by a State nonmember 303.2

Application by State nonmember in-
sured bank to establish a branch.

insured bank (except a District bank) 303.3 Application by State nonmember in. to establish and operate a new branch

sured bank to move main office or should be filed with the Supervising branch.

Examiner of the Federal Deposit In303.4 Application by insured State non- surance District in which the bank is member bank to reduce or retiro

located. The appropriate form of applicapital.

cation and instructions for completing 803.5 Application for conversion, merger, consolidation, assumption and sale

the same may be obtained upon request of asset transactions.

from the Supervising Examiner of the 303.8 Application by State nonmember in. District in which the application origi

sured bank to extend its corporate nates. (See Part 304 of this subchapter or charter powers.

for list of forms and instructions.) 303.7 Application to continue or resume

[15 F. R. 8628, Dec. 6, 1950, as amended at insured status.

19 F. R. 1666, Mar. 27, 1954] 803.8 Application for use of other official

sign or for exemption from adver- $ 303.3 Application by State nonmemtising requirements.

ber insured bank to move main office 303.9 Other applications.

or branch. 303.10 Procedure on applications. 303.11 Notice of disposition of application. Application for the consent of the AUTHORITY: $$ 303.1 to 303.11 issued under

Corporation to move the main office or sec. 9, 64 Stat. 881; 12 U. S. C. 1819. Interpret

branch of a State nonmember insured or apply secs. 5, 6, 8, 18, 19, 64 Stat. 876, 879, bank (except a District bank) should 891, 893; 12 U. S. C. 1815, 1816, 1818, 1828, be filed with the Supervising Examiner 1829.

of the Federal Deposit Insurance DisSOURCE: $$ 303.1 to 303.11 appear at 15 F. R.

trict in which the bank is located. The 8628, Dec. 6, 1950, except as otherwise noted. appropriate form of application and

instructions for completing the same $ 303.1 Application by non member bank’ for deposit insurance.

; "The term 'branch' Includes any branch Application for deposit insurance by bank, branch office, branch agency, addian existing or proposed State nonmem

tional office, or any branch place of business ber bank should be filed with the Super

located in any State of the United States or

in any Territory of the United States, Puerto vising Examiner of the Federal Deposit

Rico, Guam, or the Virgin Islands at which Insurance District in which the bank or

deposits are received or checks paid or money

lent." "A nonmember bank is a bank which is

(Sec. 3 (o), 64 Stat. 875, as amended; 12 not a member of the Federal Reserve System. U.S. C. 1813 (0))

may be obtained upon request from the the converted bank at the time of the Supervising Examiner of the District in shareholders' meeting approving such which the application originates. (See conversion-together with copies cf the Part 304 of this subchapter for list of charter and/or articles of association of forms and instructions.)

the converted bank, should be filed with

the Supervising Examiner of the Fed. & 303.4 Application by insured State

eral Deposit Insurance District in which nonmember bank to reduce or retire

the insured bank is located. The approcapital.

priate form of application and instrucApplication for the consent of the tions for completing the form may be Corporation to the reduction in the obtained upon request from the office of amount, or retirement of any part, of the said Supervising Examiner. common or preferred capital stock, or (c) Merger, consolidation, asset acretirement of any part of the capital

quisition or assumption transaction benotes or debentures, of an insured State tween insured banks. Application by an nonmember bank (except a District insured bank for the consent of the Corbank) should be filed with the Supervis- poration to merge or consolidate with, ing Examiner of the Federal Deposit In- acquire the assets of, or assume the surance District in which the bank is

liability to pay any deposits made in, located. The appropriate form of appli- another insured bank—when the resultcation and instructions for completing ing or assuming bank is to be an insured the same may be obtained upon request State nonmember bank (except a Disfrom the Supervising Examiner of the trict bank)—together with copies of all District in which the application origi

agreements or proposed agreements nates. (See Part 304 of this subchapter realting thereto, including the charter or for list of forms and instructions.)

articles of incorporation of the resulting

or assuming bank, should be filed with & 303.5 Application for conversion,

the Supervising Examiner of the Fedmerger, consolidation, assumption

eral Deposit Insurance District in which and sale of asset transactions.

the resulting or assuming bank is located. (a) With noninsured bank or institu- The appropriate form of application and tion. Application by an insured bank instructions for completing the same for the consent of the Corporation to

may be obtained upon request from the merge or consolidate with a noninsured office of said Supervising Examiner. bank or institution, or to convert into a (15 F.R. 8628, Dec. 6, 1950, as amended at noninsured institution, or to assume lia- 26 F.R. 291, Jan. 14, 1961) bility to pay any deposits made in, or similar liabilities of, any noninsured

§ 303.6 Application by State nonmembank or institution, or to transfer assets

ber insured bank to extend its corto any noninsured bank or institution in

porate or charter powers. consideration of the assumption of liabil- Application for the consent of the Cority for any portion of the deposits made poration to the extension of the corin such insured bank, together with cop- porate or charter powers of a State ies of all agreements or proposed agree- nonmember insured bank (except a Disments relating thereto, should be filed trict bank) should be filed with the Suwith the Supervising Examiner of the pervising Examiner of the Federal Federal Deposit Insurance District in Deposit Insurance District in which the which the insured bank is located. The bank is located. The appropriate form appropriate form of application and in- of application and instructions for comstructions for completing the form as pleting the same may be obtained upon well as instructions concerning notice to request from the Supervising Examiner depositors, may be obtained unon request of the District in which the application from the office of said Supervising originates. (See Part 304 of this subExaminer.

chapter for list of forms and instruc(b) Conversion with diminution of tions.) capital or surplus. Application for the

§ 303.7 Application to continue or reconsent of the Corporation to convert into an insured State nonmember bank

sume insured status. (except a District bank)—when the con- Application under $ 327.3(c) of this version will result in the converted bank chapter by a bank whose insured status having less capital stock or surplus than has been terminated, to be permitted

be used and the instructions issued with respect thereto should be followed and submission made as therein provided.

to continue or to resume its status as an insured bank, should be filed with the Supervising Examiner of the Federal Deposit Insurance District in which the bank is located. Such application should be (a) in writing; (b) signed by the president, or cashier, or other managing officer of the bank; (c) accompanied by a certified copy of the resolution of its board of directors authorizing the submission of such application; and should contain (d) a statement that the bank's insured status has been terminated, the date thereof, and the basis therefor, that the insurance of its deposits has not ceased, and that it applies for permission to continue or resume its status as an insured bank; and (e) the reasons why the continuance or resumption of such status should be permitted by the Corporation. $ 303.8 Application for use of other

official sign or for exemption from

advertising requirements. Any application made by an insured bank under any of the provisions of Part 328 of this chapter should be filed with the Division of Examination of the Corporation at its principal office. Such application should (a) be in writing; (b) be signed by the president, or cashier, or other managing officer of the bank; and (c) state, in conformity with the particular provision in respect of which the application is made, the reason for the request in detail and the reason why the application should be granted and in case of an official sign should be accompanied by a sample of the proposed sign. § 303.9 Other applications.

Except as otherwise provided by rule or regulation, all applications, requests, and submittals for which no form of application has been prescribed by the Corporation, should be (a) in writing; (b) signed by the applicant or his duly authorized agent; and (c) should contain a statement of the applicant's interest therein, a complete and concise statement of the action requested and the reasons and facts relied upon as the basis for such requested action; and should be addressed to the Secretary at the principal office of the Corporation. The applicant shall furnish such other pertinent information as may be required by the Corporation.

Whenever applicable the forms specified in Part 304 of this subchapter should

$ 303.10 Procedure on applications.

With respect to applications for deposit Insurance under $ 303.1, the Division of Examination of the Corporation will cause an investigation to be conducted, and an examination to be made of the bank or proposed bank; and the board of directors will thereafter, in accordance with applicable provisions of law, act upon such application, the report of such investigation and examination, the recommendations thereon of the examiner and Supervising Examiner of the District in which the bank is or will be located, of the Division of Examination and of the Board of Review, and the legal opinion of counsel for the Corporation. The applicant bank will be duly advised of the board's decision upon such application.

With respect to all other applications, requests, or submittals the board of directors will cause such an investigation or examination, or both, to be made by the proper Divisions of the Corporation, as the board shall deem appropriate, and upon the report of such investigation and examination, and the recommendations thereon, will take such action as it shall deem necessary or appropriate in the premises.

§ 303.11

Notice of disposition of application. Prompt notice will be given of the grant or denial, in whole or in part, of any written application, petition, or other request of any interested person made in connection with any agency proceeding. In the case of a denial, except in affirming a prior denial, or where the same is self-explanatory, such notice will be accompanied by a simple statement of procedural or other grounds.

PART 304-FORMS, INSTRUCTIONS,

AND REPORTS Sec. 304.1 Certified statements. 304.2 Reports of condition, etc. 304.3 Forms and instructions.

AUTHORITY: $8 304.1 to 304.3 Issued under sec. 9, 64 Stat. 881: 12 U. S. C. 1819. Interpret or apply secs. 5-8, 10, 18, 19, 64 Stat. 876–879, 882, 891, 893; 12 U. 8. C. 1816–1818, 1820, 1828, 1829.

87122 0-63-15

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