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CHAPTER III-FEDERAL DEPOSIT INSURANCE

CORPORATION

SUBCHAPTER A-PROCEDURE AND RULES OF PRACTICE Part 300 [Reserved] 301 Introductory. 302 Formulation and promulgation of rules and regulations. 303

Applications, requests, and submittals. 304 Forms, instructions, and reports. 305 Payment of insured deposits. 306 Receiverships and liquidations. 307 Voluntary termination of insured status. 308 Rules of practice and procedures. 309 Published and unpublished records and information.

SUBCHAPTER B-REGULATIONS AND STATEMENTS OF GENERAL POLICY

325 326 327 328 329 330 331 332 333 334 335 336

Introductory.
Minimum security devices and procedures for insured nonmember banks.
Assessments.
Advertisement of membership.
Interest on deposits.
Clarification and definition of deposit insurance coverage.
Insurance of trust funds.
Powers inconsistent with purposes of Federal deposit insurance law.
Extension of corporate powers.
Bank service arrangements.
Securities of insured State nonmember banks.
Employee responsibilities and conduct.

SUBCHAPTER A-PROCEDURE AND RULES OF PRACTICE

PART 300 [Reserved]

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PART 301-INTRODUCTORY 8 301.1 Scope.

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 thereof;

(b) The disposition of applications, requests, and submittals;

(c) Formal and informal hearings and adjudications. (Sec. 9, 64 Stat. 881; 12 U.S.C. 1819) (32 F.R. 9638, July 4, 1967, as amended at 36 F.R. 3112, Feb. 18, 1971)

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) § 302.4 Petitions.

Any interested person may petition the Corporation for the issuance, amendment, or repeal of any rule by submitting such petition in writing together with a complete and concise statement of the petitioner's interest in the subject matter and the reasons why the petition should be granted. Such petition should be submitted to the Secretary.

PART 302_FORMULATION AND

PROMULGATION OF RULES AND

REGULATIONS Sec. 302.1 Notice. 302.2 Public participation. 302.3 Formulation of rules. 302.4 Petitions. 302.5 Effective date. 302.6 Exceptions. 302.7 Amendment and repeal.

8 302.5 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.

SOURCE: The provisions of this part 803 appear at 32 F.R. 10556, July 19, 1967, unless otherwise noted. $ 303.1 Application by nonmember

bank' for deposit insurance. 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 35 F.R. 1248, Jan. 27, 1971] § 303.2 Application by insured State

nonmember bank to establish

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)

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PART 303-APPLICATIONS, RE

QUESTS, AND SUBMITTALS Sec. 303.1 Application by nonmember bank for

deposit insurance. 303.2 Application by insured State non

member bank to establish

branch. 303.3 Application by insured State non

member bank to move main office

or branch. 303.4 Application by insured State non

member bank to reduce or retire

capital. 303.5 Application for conversion, merger,

consolidation, assumption, and

sale of asset transactions. 303.6 Application by Insured State non

member bank to extend its cor

porate or charter powers. 303.7 Application to continue or resume

insured status. 303.8 Application for exemption from or

exception to advertising require

ments. 303.9 Other applications. 303.10 Procedure on applications. 303.11 Delegation of authority to act on

certain applications. 303.12 Applications where authority to act

is not delegated. 303.13 Other delegations of authority.

AUTHORITY: The provisions of this part 303 Issued under secs. 5, 6, 8, 9, 18, 19, 64 Stat. 876, 879, 881, 891, 893; 12 U.S.C. 1815, 1816, 1818, 1819, 1828, 1829.

1 A nonmember bank is a bank which is not a member of the Federal Reserve System.

3 "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(0)).

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