PART 300 [Reserved]

PART 301-INTRODUCTORY § 301.1

Scope.

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The rules contained in this subchapter are promulgated pursuant to the provisions of Subchapter II of Chapter 5 of Title 5, United States Code, the Federal Deposit Insurance Act (12 U.S.C. 18111831), and other applicable laws. In accordance with the provisions of section 552(a)(1) of Title 5, United States Code they state (1) the established places at which, the officers from whom, and the methods whereby, the public may secure information, make submittals or quests, or obtain decisions, (2) the general course and method by which the Corporation's functions are channeled and determined, including the nature and requirements of all formal and informal procedures available, and (3) rules of procedure, descriptions of forms available, or the places at which forms may be obtained, and instructions as to the scope and contents of all papers, reports, or examinations, except to the extent exempted by law. This subchapter also includes appropriate provisions with respect to rule making, adjudications, and hearings, as prescribed by law. A current description of the Corporation's central and field organization is separately published in the FEDERAL REGISTER. Proceedings by the Corporation within the meaning of this subchapter include:

(a) The formulation and promulgation of rules and regulations, including amendments thereto or the repeal there

AUTHORITY: The provisions of this Part 302 issued under sec. 9, 64 Stat. 881; 12 U.S.C. 1819.

SOURCE: The provisions of this Part 302 appear at 15 F.R. 8628, Dec. 6, 1950, unless otherwise noted.

§ 302.1 Notice.

General notice or proposed rule making, including amendments thereto or repeal thereof, will be published in the FEDERAL REGISTER, except as specified in § 302.6, or otherwise excepted by law. Such notice will include either the terms or substance of the proposed rule or a description of the subjects and issues involved, reference to the authority under which the rule is proposed, and a statement of the time, place, and nature of the public proceedings for making the rule.

§ 302.2 Public participation.

Interested persons will be afforded an opportunity to participate in the making of any rule, except as specified in § 302.6, or otherwise excepted by law, through the submission of written data, views, or arguments, unless the board of directors shall specifically provide an opportunity for the oral presentation therof.

§ 302.3 Formulation of rules.

After consideration of all relevant matter presented, the Special Committee will submit its recommendations to the board of directors and, in collaboration with appropriate Divisions, will prepare drafts of any proposed rules or amendments. The board of directors will take such action thereon as it deems appropriate and in any rule adopted will incorporate therein a concise general statement of its basis and purpose.

[15 F.R. 8628, Dec. 6, 1950, as amended at 19 F.R. 1666, Mar. 27, 1954]

§ 302.5 Effective date.

Any rule issued by the Corporation will be published or served not less than thirty (30) days prior to the effective date thereof except as specified in § 302.6 or otherwise excepted by law.

§ 302.6 Exceptions.

Whenever the Corporation finds that notice of, and public participation in, rule making is impracticable, unnecessary, or contrary to the public interest, or there is good cause why the effective date of any rule should not be deferred for thirty (30) days, the provisions of §§ 302.1, 302.2, and 302.5 shall not apply; and any such rule when published will incorporate the finding and a brief statement of the reasons therefor.

§ 302.7 Amendment and repeal.

The right to alter, amend, or repeal the whole or any part of any rule except as otherwise provided by law, is expressly reserved.

Application for deposit insurance by an existing or proposed State nonmember bank should be filed with the Regional Director of the Federal Deposit Insurance Corporation Region in which the bank or proposed bank is or will be located. Any such application by an existing bank must be accompanied by separate applications for the consent of the Corporation to the continued operation of each branch which it proposes to continue to operate. Any such application by a proposed bank must be accompanied by a separate application for the consent of the Corporation to establish and operate each proposed branch. The appropriate forms of application and instructions for completing the same may be obtained upon request from the Regional Director of the Region in which the application originates. (See Part 304 of this title for list of forms and instructions.)

[32 F.R. 10556, July 19, 1967, as amended at 36 F.R. 1248, Jan. 27, 1971]

§ 303.2 Application by insured State nonmember bank to establish a branch.'

Application by an insured State nonmember bank (except a District bank) to establish and operate a new branch should be filed with the Regional Director of the Federal Deposit Insurance Corporation Region in which the bank is located. The appropriate form of application and instructions for completing the same may be obtained upon request from the Regional Director of the Region in which the application originates. (See Part 304 of this title for list of forms and instructions.)

[32 F.R. 10556, July 19, 1967, as amended at 36 F.R. 1248, Jan. 27, 1971; 36 F.R. 3112, Feb. 18, 1971]

1 A nonmember bank is a bank which is not a member of the Federal Reserve System. 2 "The term 'branch' includes any branch bank, branch office, branch agency, additional office, or any branch place of business located in any State of the United States or in any Territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands at which deposits are received or checks paid or money lent." (Sec. 3(0) of the Federal Deposit Insurance Act, as amended (12 U.S.C. 1813(o)).