§ 238.83. Prohibited actions.
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/us/cfr/t12/s§ 238.83·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Person. If a person was convicted of a criminal offense described in § 238.84, or agreed to enter into a pretrial diversion or similar program in connection with a prosecution for such a criminal offense, he or she may not:
(1)Become, or continue as, an institution-affiliated party with respect to any savings and loan holding company.
(2)Own or control, directly or indirectly, any savings and loan holding company. A person will own or control a savings and loan holding company if he or she owns or controls that company under subpart D of this part.
(3)Otherwise participate, directly or indirectly, in the conduct of the affairs of any savings and loan holding company.
(b)Savings and loan holding company. A savings and loan holding company may not permit any person described in paragraph
(a)of this section to engage in any conduct or to continue any relationship prohibited under that paragraph.