Transactions requiring Board approval.

CFR · 2024-01-01 · US · Title 12

The following transactions require the Board's prior approval under section 10 of HOLA except as exempted under § 238.12: (a) (b) (c) (2) An acquisition includes the purchase of additional securities through the exercise of preemptive rights, but does not include securities received in a stock dividend or stock split that does not alter the savings and loan holding company's proportional share of any class of voting securities. (3) In the case of a multiple savings and loan holding company, acquisition of direct or indirect ownership or control of any voting securities of a savings association or savings and loan holding company, that is not a subsidiary, if the acquisition results in the company's control of more than 5 percent of the outstanding shares of any class of voting securities of the savings association or savings and loan holding company that is engaged in any business activity other than those specified in § 238.51 of this part. (d) (e) (f)

official document · source cfr-2024 · id 12:§ 238.11