§ 238.63. Requirements to engage in financial holding company activities.
90 words·~1 min read·
/us/cfr/t12/s§ 238.63·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)In general. In order for a savings and loan holding company to engage in financial holding company activities:
(1)The savings and loan holding company and all depository institutions controlled by the savings and loan holding company must be and remain well capitalized;
(2)The savings and loan holding company and all depository institutions controlled by the savings and loan company must be and remain well managed; and
(3)The savings and loan holding company must have made an effective election to be treated as a financial holding company.