Definitions.

CFR · 2024-01-01 · US · Title 12

For purposes of this subpart: (a) (1) Is not elected by the shareholders; (2) Is not authorized to vote on any matters before the board of directors or board of trustees or any committee thereof; (3) Solely provides general policy advice to the board of directors or board of trustees and any committee thereof; and (4) Has not been identified by the FDIC as a person who performs the functions of a director for purposes of this subpart. (b) (c) (1) Has a composite rating, as determined in its most recent report of examination, of 4 or 5 under the Uniform Financial Institutions Rating System (UFIRS), or in the case of an insured state branch of a foreign bank, an equivalent rating; or (2) Is subject to a proceeding initiated by the FDIC for termination or suspension of deposit insurance; or (3) Is subject to a cease-and-desist order or written agreement issued by either the FDIC or the appropriate state banking authority that requires action to improve the financial condition of the FDIC-supervised institution or is subject to a proceeding initiated by the FDIC or state authority which contemplates the issuance of an order that requires action to improve the financial condition of the FDIC-supervised institution, unless otherwise informed in writing by the FDIC; or (4) Is informed in writing by the FDIC that it is in troubled condition for purposes of the requirements of this subpart on the basis of the FDIC-supervised institution's most recent report of condition or report of e

official document · source cfr-2024 · id 12:§ 303.101