Regulations last checked for updates: Nov 22, 2024

Title 12 - Banks and Banking last revised: Nov 20, 2024
§ 238.99 - Interlocking relationships permitted pursuant to Federal Deposit Insurance Act.

A management official or prospective management official of a depository organization may enter into an otherwise prohibited interlocking relationship with another depository organization for a period of up to 10 years if such relationship is approved by the Federal Deposit Insurance Corporation pursuant to section 13(k)(1)(A)(v) of the Federal Deposit Insurance Act, as amended (12 U.S.C. 1823(k)(1)(A)(v)).

authority: 5 U.S.C. 552,559; 12 U.S.C. 1462,1462a,1463,1464,1467,1467a,1468,5365; 1813, 1817, 1829e, 1831i, 1972, 15 U.S.C. 78
source: Reg. LL, 76 FR 56532, Sept. 13, 2011, unless otherwise noted.
cite as: 12 CFR 238.99