§ 308.151. Scope.
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/us/cfr/t12/s§ 308.151·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The rules and procedures set forth in this subpart shall apply to the notice filed by a state nonmember bank pursuant to section 32 of the FDIA (12 U.S.C. 1831i) and § 303.102 of this chapter for the consent of the FDIC to add or replace an individual on the Board of Directors, or to employ any individual as a senior executive officer, or change the responsibilities of any individual to a position of senior executive officer where:
(a)The bank is not in compliance with all minimum capital requirements applicable to it as determined by the FDIC on the basis of such institution's most recent report of condition or report of examination or inspection;
(b)The bank is in a troubled condition as defined in § 303.101(c) of this chapter; or
(c)The FDIC determines, in connection with the review of a capital restoration plan required under section 38(e)(2) of the FDIA (12 U.S.C. 1831o(e)(2)) or otherwise, that such prior notice is appropriate. [64 FR 62100, Nov. 16, 1999]
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