§ 7.4010. Applicability of state law and visitorial powers to Federal savings associations and subsidiaries.

119 words·~1 min read·/us/cfr/t12/s§ 7.4010·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)In accordance with section 1046 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 25b), Federal savings associations and their subsidiaries shall be subject to the same laws and legal standards, including regulations of the OCC, as are applicable to national banks and their subsidiaries, regarding the preemption of state law.

(b)In accordance with section 1047 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 1465), the provisions of section 5136C(i) of the Revised Statutes regarding visitorial powers apply to Federal savings associations and their subsidiaries to the same extent and in the same manner as if they were national banks or national bank subsidiaries. [76 FR 43566, July 21, 2011]

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§ 7.4010

Applicability of state law and visitorial powers to Federal savings associations and subsidiaries.

Fed. Reg.×1

U.S.C.§ 25b

U.S.C.§ 1465

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