PART 300-[RESERVED]

PART 301-INTRODUCTORY

§ 301.1 Scope.

The rules contained in this subchapter are promulgated pursuant to the provisions of Subchapter II of Chapter 5 of Title 5, United States Code, the Federal Deposit Insurance Act (12 U.S.C. 1811-1831), and other applicable laws. In accordance with the provisions of section 552(a)(1) of Title 5, United States Code they state (1) the established places at which, the officers from whom, and the methods whereby, the public may secure information, make submittals or requests, or obtain decisions, (2) the general course and method by which the Corporation's functions are channeled and determined, including the nature and requirements of all formal and informal procedures available, and (3) rules of procedure, descriptions of forms available, or the places at which forms may be obtained, and instructions as to the scope and contents of all papers, reports, or examinations, except to the extent exempted by law. This subchapter also includes appropriate provisions with respect to rule making, adjudications, and hearings, as prescribed by law. A current description of the Corporation's central and field organization is separately published in the FEDERAL REGISTER. 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 and informal hearings and adjudications.

(Sec. 9, 64 Stat. 881; 12 U.S.C. 1819)

[32 FR 9638, July 4, 1967, as amended at 36 FR 3112, Feb. 18, 1971]

§ 302.2 Public participation.

Interested persons will be affor an opportunity to participate in making of any rule, except as speci in § 302.6, or otherwise excepted law, through the submission of writ data, views, or arguments, unless board of directors shall specific provide an opportunity for the presentation thereof.

§ 302.3 Formulation of rules.

After consideration of all relev matter presented, the duly constitu committees will submit their rec mendations to the board of direct and, in collaboration with appropri Divisions, will prepare drafts of proposed rules or amendments. T board of directors will take such act thereon as it deems appropriate and any rule adopted will incorpor

therein a concise general statement of its basis and purpose.

[15 FR 8628, Dec. 6, 1950, as amended at 38 FR 14263, May 31, 1973]

§ 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 Executive Secretary of the Corporation.

[15 FR 8628, Dec. 6, 1950, as amended at 38 FR 14263, May 31, 1973]

§ 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.

Sec.

PART 303-APPLICATIONS, REQUESTS, AND SUBMITTALS

303.1 Application by nonmember bank for deposit insurance.

303.2 Application by insured State nonmember bank to establish a branch. 303.3 Application by insured State nonmember bank to move main office or branch.

Sec. 303.4 Application by insured State nonmember bank to reduce or retire capital. 303.5 Application for conversion, merger, consolidation, assumption, and sale of

asset transactions.

303.6 Application by insured State nonmember bank to extend its corporate or charter powers.

303.7 Application to continue or resume insured status.

303.8 Application for exemption from or exception to advertising requirements. 303.9 Other applications.

303.10 Procedure on applications.

303.11 Delegation of authority to act on certain applications.

303.12 Applications where authority is not

delegated.

303.13 Other delegations of authority. 303.14 Application procedures.

AUTHORITY: Secs. 5, 6, 8, 9, 18, 19, 64 Stat. 876, 879, 881, 891, 893; 12 U.S.C. 1815, 1816, 1818, 1819, 1828, 1829.

§ 303.1 Application by nonmember bank 1 for deposit insurance.

Application for deposit insurance by an existing or proposed State nonmember bank should be filed with the Regional Director of the Federal Deposit Insurance Corporation Region in which the bank or proposed bank is or will be located. Any such application 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. Any such application by a proposed bank must be accompanied by a separate application for the consent of the Corporation to establish and operate each proposed branch. The appropriate forms of application and instructions for completing the same may be obtained upon request from the Regional Director of the Region in which the application originates. (See Part 304 of this title for list of forms and instructions.)

[32 FR 10556, July 19, 1967, as amended at 36 FR 1248, Jan. 27, 1971]

1A nonmember bank is a bank which is not a member of the Federal Reserve System.

2

§ 303.2 Application by insured State nonmember bank to establish a branch. 2 Application by an insured State nonmember bank (except a District bank) to establish and operate a new branch should be filed with the Regional Director of the Federal Deposit Insurance Corporation Region in which the bank is located. The appropriate form of application and instructions for completing the same may be obtained upon request from the Regional Director of the Region in which the application originates. (See Part 304 of this title for list of forms and instructions.) [32 FR 10556, July 19, 1967, as amended at 36 FR 1248, Jan. 27, 1971; 36 FR 3112, Feb. 18, 1971]

§ 303.3 Application by insured State nonmember bank to move main office or branch.

Application for the consent of the Corporation to move the main office or branch of an insured State nonmember bank (except a District bank) should be filed with the Regional Director of the Federal Deposit Insurance Corporation Region in which the bank is located. The appropriate form of application and instructions for completing the same may be obtained upon request from the Regional Director of the Region in which the application originates. (See Part 304 of this title for list of forms and instructions.) [32 FR 10556, July 19, 1967, as amended at 36 FR 1248, Jan. 27, 1971]

§ 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 of the capital notes or debentures, of an insured

"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, American Samoa, or the Virgin Islands at which deposits are received or checks paid or money lent." (Sec. 3(0) of the Federal Deposit Insurance Act, as amended (12 U.S.C. 1813(0)).

merger, consolidation, assumptior sale of asset transactions.

(a) With noninsured bank or ins tion. Application by an insured for the consent of the Corporatio merge or consolidate with a no sured bank or institution, or to cor into a noninsured institution, o assume liability to pay any dep made in, or similar liabilities of, noninsured bank or institution, o transfer assets to any noninsured t or institution in consideration of assumption of liability for any por of the deposits made in such ins bank, together with copies of all ag ments or proposed agreements r ing thereto, should be filed with Regional Director of the Federal posit Insurance Corporation Regio which the insured bank is located. appropriate form of application instructions for completing the f as well as instructions concer notice to depositors, may be obta upon request from the office of Regional Director.

(b) Conversion with diminutio capital or surplus. Application for appropriate form of application into an insured State nonmen bank (except a District bank)-w the conversion will result in the verted bank's having less capital s or surplus than the converted ban the time of the shareholders' mee approving such conversion-toge with copies of the charter and/or cles of association of the conve bank, should be filed with the Reg al Director of the Federal Deposit surance Corporation Region in w the insured bank is located. The

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