§ 101.7. Reelection.
116 words·~1 min read·
/us/cfr/t12/s§ 101.7·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Reelection. A Federal savings association that has terminated its election to operate as a covered savings association may submit a notice to reelect to operate as a covered savings association, if at least five years have elapsed since the effective date of the termination. Upon determining that good cause exists, the OCC may permit a Federal savings association to reelect to operate as a covered savings association prior to the expiration of the five-year period.
(b)Procedures and treatment. A Federal savings association reelecting to operate as a covered savings association shall comply with, and shall be subject to, the provisions of this part as if it were making an election for the first time.
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§ 101.7
Reelection.
Fed. Reg.×4
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