Election procedures.

CFR · 2024-01-01 · US · Title 12

(a) (b) (1) State that the savings and loan holding company elects to be treated as a financial holding company in order to engage in financial holding company activities; (2) Provide the name and head office address of the savings and loan holding company and of each depository institution controlled by the savings and loan holding company; (3) Certify that the savings and loan holding company and each depository institution controlled by the savings and loan holding company is well capitalized as of the date the savings and loan holding company submits its declaration; (4) Certify that the savings and loan holding company and each savings association controlled by the savings and loan holding company is well managed as of the date the savings and loan holding company submits its declaration; (c) (1) Any insured depository institution controlled by the savings and loan holding company (except an institution excluded under paragraph (d) of this section) has not achieved at least a rating of “satisfactory record of meeting community credit needs” under the Community Reinvestment Act at the savings association's most recent examination; or (2) Any depository institution controlled by the bank holding company is not both well capitalized and well managed. (d) (1) The savings and loan holding company acquired the savings association during the 12-month period preceding the filing of an election under paragraph (a) of this section; (2) The savings and loan holding company has subm

official document · source cfr-2024 · id 12:§ 238.65