§ 1263.30. Readmission to membership.
96 words·~1 min read·
/us/cfr/t12/s§ 1263.30·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)In general. An institution that has withdrawn from membership or otherwise has had its membership terminated and which has divested all of its shares of Bank stock, may not be readmitted to membership in any Bank, or acquire any capital stock of any Bank, for a period of five years from the date on which its membership terminated and it divested all of its shares of Bank stock.
(b)Exceptions. An institution that transfers membership between two Banks without interruption shall not be deemed to have withdrawn from Bank membership or had its membership terminated.