« PreviousContinue »
Where notice has been sent pursuant to this paragraph, the Regional Director shall send a copy to the applicant.
(3) Form of proceeding. The Corporation may, at its discretion, decide to hold a hearing on the application in accordance with paragraph (e) of this section; it may decide to hold an informal proceeding in accordance with paragraph (d) (4) of this section; or it may decide not to hold a hearing or an informal proceeding in which case, where there has been a request for an opportunity to be heard pursuant to paragraph (d) (2) of this section, it will so advise the applicant and all persons who requested an opportunity to be heard. A decision as to the form of proceeding to be held will be made not more than 30 days after notice has been given pursuant to paragraph (d) (2) of this section.
(4) Informal proceedings. If the Corporation decides to hold an informal proceeding, the Regional Director shall, not less than 10 days prior thereto, notify the applicant and each person who filed a formal protest in accordance with paragraph (d) (2) of this section, of the date, time, and place of the proceeding. The Regional Director may, if he deems it advisable, notify other persons who have expressed an interest in the application and invite them to attend. The proceeding may assume any form, including a meeting with Corporation representatives at which the participants will be asked to present their views orally. The Regional Director shall also have the discretion to hold separate meetings with each of the participants where he deems it desirable.
(e) Hearings. Hearings of the kind provided for in this paragraph will not generally be afforded the participants if they have had the opportunity to participate in prior hearings before the appropriate State authority which covered essentially the same issues or if the Regional Director determines that less formal proceedings will be adequate.
(1) Notice of hearing.-(1) Contents. If the Corporation determines that a hearing on the application is warranted, the Regional Director shall, not less than 10 days prior thereto, give notice of the scheduling of the hearing, and shall set forth in the notice the subject matter of the application, the significant issues to be presented, and the date, time, and place at which the hearing shall be held.
(ii) To whom sent. The above notice shall be sent by registered or certified mail to the applicant and to each person who filed a formal protest in accordance with paragraph (d) (2) of this section. The Regional Director may also notify other persons who have expressed an interest in the application and invite them to participate in the hearing.
(2) Attendance at hearing. Each interested person who wishes to attend the hearing shall notify the Regional Director accordingly within 5 days after the date upon which he receives the above notice. Unless he has already done so, he shall submit a brief written summary of the matters which he wishes to cover at the hearing together with the number and names of witnesses he wishes to present. The applicant and other interested persons attending the hearing may be represented by counsel.
(3) Presiding officer. The presiding officer at the hearing shall be the Regional Director, his designee, or such other person as may be named by the Board of Directors or the Director of the Division of Bank Supervision. The presiding officer shall have the authority to appoint a panel to assist him.
(f) Hearing rules-(1) Order of presentation. The following schedule is intended to serve as a general guide to the conduct of the hearing. It is not fixed and may be varied at the discretion of the presiding officer. The presiding officer shall determine the order of opening statements and presentations to be followed by all participants other than the applicant who in each instance shall have the opportunity to speak first.
(i) Opening statements. The applicant and each other participant may make opening statements which should concisely state what the participant intends to show.
(ii) Applicant's presentation. Following the opening statements, the applicant shall present its data and materials, oral or documentary.
(iii) Protestant's presentation. Following the applicant's presentation, each person protesting the application shall present his data and materials, oral or documentary. The protestants may agree, with the approval of the presiding officer, to have one of their number make their presentation.
(iv) Other interested persons. Following the evidence of the applicant and the protestants, the presiding officer will recognize other interested persons who may
present their views with respect to the terested person requesting the same at application under consideration.
that person's expense. (v) Summary statement. After all the (6) The hearing record-(i) Conabove presentations have been concluded, tents. The public file described in parathe applicant may make a short and con- graph (c) of this section shall autocise rebuttal.
matically be deemed a part of the hear(2) Witnesses. Each participant is re- ing record. sponsible for providing his own witnesses, (ii) Closing the hearing record-addiincluding the payment of all expenses tional statements. Any person who parassociated with their appearance at the ticipates in the hearing may request that hearing. All witnesses will be present on the hearing record remain open for 10 their own volition, but any person ap- days following receipt of the transcript pearing as a witness may be subject to by the Regional Director during which questioning by any participant, by the time the person may submit corrected presiding officer, or by any member of copies of the transcript, or additional the panel. The refusal of a witness to written statements or materials which answer questions may be considered by he agreed to furnish at the hearing, to the Corporation in determining the the Regional Director. Such person shall weight to be accorded the testimony of simultaneously mail or have delivered that witness. Witnesses shall not be copies of the corrected transcript or adsworn.
ditional statements or materials to all (3) Evidence. The presiding officer other persons who participated in the shall have the authority to exclude data hearing. or materials which he deems to be im- (g) Disposition and notice thereof. proper, irrelevant, or repetitive. Formal (1) The final disposition of any applicarules of evidence shall not be applicable tion or other matter under this section to these hearings. Documentary material need not be determined exclusively by, submitted as evidence must be of a size or be limited to, the information conconsistent with ease of handling, trans- tained in the public file established by portation, and filing. Three copies of all
paragraph (c) of this section. such documentary material shall be fur- (2) The applicant, and any other pernished to the Regional Director, and any son who so requests in writing, shall be participant who specifically requests the notified by the Board of Directors of the same shall be furnished a copy at his own final disposition of the application or expense. While large exhibits may be other matter. The Board of Directors used during the hearing, copies of such shall also provide a statement of the reaexhibits must be provided by the person sons for the final disposition made. in reduced size for submission as (h) Closing the public file. The public evidence.
file described in paragraph (c) of this (4) Procedural questions. The presid- section shall be closed 30 days after final ing officer, or any designated member of disposition of the application or other the panel, shall determine all procedural matter. questions not governed by this section. (i) Notice to applicant in the case of The presiding officer shall have the au- a tentative denial. Generally, in the case thority to limit the number of witnesses of an application subject to the provito be used by any person and to impose sions of this section, where the Board of reasonable time limitations.
Directors, based upon the information (5) Transcript. A transcript of each available at that time, plans to deny the hearing will be arranged for by the Cor- application and no hearing has been held poration. The person or persons who re
thereon pursuant to paragraph (e) of quested the hearing will be expected to
this section, the Director of the Division pay all the expenses of such service, in
of Bank Supervision or his designee will cluding the furnishing of one copy of the
send the applicant a written statement
by registered or certified mail which shall transcript to the Regional Director: Provided, however, That the Corporation 14 Where final authority to dispose of an may, for good cause, waive this require- application or other matter has been delement in individual cases. Where a hear- gated to the Director of the Division of Bank ing is held at the Corporation's initia
Supervision or the Regional Directors pur
suant to $ 303.11, the Director of the Division tive, the Corporation shall bear the
of Bank Supervision or the appropriate Reexpenses of such service. Copies of the
gional Director will provide the notice and transcript will be furnished to any in- statement described in this paragraph (8) (2), specify the reasons for such tentative de- be paid to the Corporation at the time nial. The applicant shall have 15 days such statements are required to be filed. following the receipt of this statement The form of certified statement will be within which to file a written request furnished to all insured banks by, or may to amend its application or for an op- be obtained upon request from, the fiscal portunity to submit information in re- agent. buttal, either in writing or in the form
$ 304.2 Reports of condition, etc. of an oral presentation before one or more representatives of the Corpora- Whenever required, insured State nontion designated for that purpose. Upon
member banks (except District banks) the filing of such request the applicant
shall file reports of condition, reports of shall be given 30 days in which to amend income and dividends, and summaries of its application or prepare its presenta- deposits with the Division of Research tion to the Corporation. If the applicant upon the forms, in the manner, and purrequests and is granted an opportunity to
suant to the instructions prescribed by make an oral presentation, it shall be
the Board of Directors from time to advised of the date, time, place, and
time. The form of such reports and inperson or persons before whom such structions for completing the same will presentation shall be made.
be furnished to all such banks by, or may (j) Computation of time. Section be obtained upon request from, the Divi308.18 shall govern the computation of
sion of Research. Each insured national any period of time prescribed or allowed
bank and each insured District bank at by this section.
the time of making reports of condition (k) Retained authority. In acting
to the Comptroller of the Currency and upon any particular application, the
each insured State member bank at the Board of Directors may by resolution
time of making reports of condition to adopt procedures which differ from this
the Federal Reserve bank, required unsection when it deems it necessary and
der the Federal Deposit Insurance Act, in the public interest to do so. Such
shall furnish an executed and attested resolution shall be made available for copy thereof to the Corporation. public inspection and copying in the Of- $ 304.3 Forms and instructions. fice of the Executive Secretary of the Corporation in accordance with the re
The following forms and instructions quirements of 5 U.S.C. 552(a) (2).
have been prepared by the Corporation
for the use of banks and may be ob(38 FR 4573, Feb. 16, 1973; 38 FR 9221, April 12, 1973, as amended at 38 FR 14263,
tained by any person properly and diMay 31, 1973)
rectly concerned therewith upon request at the office designated in this chapter:
(a) Form 82: Application of proposed PART 304-FORMS, INSTRUCTIONS,
bank (other than mutual savings) for AND REPORTS
Federal deposit insurance. The proposed Sec.
incorporators are required to make 304.1 Certified statements.
statements and representations and to 304.2 Reports of condition, etc.
submit information with respect to the 304.3 Forms and instructions.
several factors enumerated in section 6 AUTHORITY: The provisions of this Part 304 of the Federal Deposit Insurance Act (12 Issued under secs. 5-8, 9, 10, 18, 19, 64 Stat.
U.S.C. 1816). The application on Form 82 876, 879, 881, 882, 891, 893; 12 U.S.C. 1815
must be executed in quadruplicate. Three 1820, 1828, 1829.
applications signed by the proposed inSOURCE: The provisions of this Part 304
corporators must be forwarded to the appear at 32 F.R. 10558, July 19, 1967, unless
Regional Director of the Federal Deposit otherwise noted.
Insurance Corporation Region in which 8 304.1 Certified statements.
the proposed bank will be located and the The certified statements required to be
other application may be retained by the filed by insured banks in accordance
prospective incorporators. Applications with the provisions of section 7 of the
filed on Form 82 must be accompanied by Federal Deposit Insurance Act, as
a certified copy of the proposed articles of amended (12 U.S.C. 1817), shall be filed
incorporation or association and the with the Fiscal Agent of the Corporation requisite number of properly executed upon the forms, and in the manner, pre
Forms 83. If the proposed bank contemscribed by the Board of Directors. The plates the establishment of a branch or assessments required to be certified must branches, its application on Form 82
must be accompanied by a properly executed Form 85 for each branch. After incorporation is duly effected, the bank must submit a properly executed Form 82a.
(b) Form 82-M: Application of proposed mutual savings bank for Federal deposit insurance. Form 82-M, which is substantially the same as Form 82, should be used when the proposed bank is to be a mutual savings bank and should be prepared and submitted in the same manner as Form 82. If the proposed bank contemplates the establishment of a branch or branches, its application on Form 82-M must be accompanied by a properly executed Form 85-M for each branch.
(c) Form 82a and Form 82a-M: Certificate of adoption of resolution. Form 82a is a copy of the resolution of the board of directors (or trustees) of the bank approving the action of the prospective incorporators in preparing and presenting its application for Federal deposit insurance on Form 82 or 82–M, certified to be a true and correct copy by the president or vice president and cashier or secretary. After incorporation has been duly effected and the bank is chartered to do business by the proper State authority, four properly executed Forms 82a must be transmitted to the Regional Director of the Federal Deposit Insurance Corporation in which the proposed bank will be located. If not previously submitted, Form 82a must be accompanied by a copy of the bank's articles of incorporation or association and a copy of the bank's license or authorization to engage in the business of receiving deposits.
(d) Form 84: Application for Federal deposit insurance by an existing noninsured State bank (other than mutual savings). The applicant bank is required to submit statements, representations, and information with respect to the several factors enumerated in section 6 of the Federal Deposit Insurance Act (12 U.S.C. 1816) and a copy of the resolution of its board of directors authorizing the bank's president or vice president and cashier or secretary to make the application. The application must be executed in quadruplicate, signed by such officers, and the bank's corporate seal affixed thereto. Three signed applications must be forwarded to the Regional Director of the Federal Deposit Insurance Corporation Region in which the bank is located and the other applica
tion may be retained by the bank. Applications filed on Form 84 must be accompanied by the requisite number of properly executed Forms 83 and a certified copy of the articles of incorporation or association, including any amendments thereto. If the bank has a branch or branches, its application on Form 84 must be accompanied by a properly executed Form 85 for each branch.
(e) Form 84-M: Application for Federal deposit insurance by an existing noninsured mutual savings bank. Form 84-M, which is substantially the same as Form 84, should be used by mutual savings banks and should be prepared and submitted in the same manner as Form 84. If the bank has a branch or branches, its application on Form 84-M must be accompanied by a properly executed Form 85-M for each branch.
(f) Form 83 and Form 83-M: Financial statement. Form 83 must be executed in triplicate and certified to be true and correct by each individual director (or trustee) and officer of the bank or proposed bank (who is solely responsible for its contents) for the benefit of the Board of Directors of the Corporation in determining, with respect to the applicant bank, the general character of its management in accord. ance with section 6 of the Federal Deposit Insurance Act (12 U.S.C. 1816), The requisite number of properly executed and signed Forms 83 must accompany each application on Form 82, Form 82-M, Form 84, or Form 84-M.
(g) Form 85, Form 85a, and Form 85b: Application of insured State nonmember bank (except District bank and mutual savings bank) to establish or move its main office or branch. (1) Form 85 is an application to establish a branch. The applicant bank is required to submit statements, representations, and information with respect to the several factors enumerated in section 6 of the Federal Deposit Insurance Act (12 U.S.C. 1816) and a copy of the resolution of its board of directors authorizing the bank's president or vice president and cashier or secretary to make the appli. cation. The application must be executed in quadruplicate, signed by the president or vice president, have the corporate seal of the bank affixed thereto, and be attested by the cashier or secretary. Three signed applications must be forwarded to the Regional Director of the Federal Deposit Insurance Corporation Region in
which the applicant bank is located and ferred stock, capital notes, or debenthe other application may be retained by tures. The applicant bank is required to the bank. The application must be ac submit statements with respect to the companied by a certified copy of the nature of the proposal, source of funds bank's articles of incorporation or associ to effect the proposal, and other steps ation, including any amendments thereto involved in the retirement. The applicaunless previ sly submitted to the Cor tion contains a statement of assets and poration and not subsequently amended. liabilities and the disposition of certain
(2) Form 85a is an application to assets adversely classified in the precedmove main office or branch. It is similar ing report of examination made of the to Form 85 and should be prepared and bank by examiners of the Corporation. submitted in the same manner as Form Three applications certified to be true 85.
and correct and signed by the president (3) Form 85b is an application to es or cashier of the bank must be fortablish a branch pursuant to designation warded to the Regional Director of the as depositary and financial agent of the Federal Deposit Insurance Corporation U.S. Government. It is similar to Form Region in which the applicant bank is 85 and should be prepared and submitted located. in the same manner as Form 85.
(k) Form 102: Application. Form 102 (h) Form 85-M and Form 85a-M: should be used by all banks applying Application by insured nonmember mu for the consent of the Corporation with tual savings bank to establish a branch respect to any application requiring such or move its main office or branch. (1) consent and for which no specific form Form 85-M is substantially the same as is prescribed by this section or otherwise. Form 85 and should be prepared and sub The form contains a copy of the resolumitted in the same manner as Form 85. tion of the bank's board of directors
(2) Form 85a-M is substantially the describing the proposal and authorizing same as Form 852 and should be pre the application, a statement of the action pared and submitted in the same man taken upon the proposal by the proper ner as Form 85.
State banking authority where such ac(1) Form 86: Application for merger, tion is required, and must be signed by consolidation, asset acquisition, or as the president or vice president and atsumption. The bank applying for prior tested by the cashier or secretary. The written consent to merge with, consoli application must be accompanied by a date with, acquire the assets of, or as copy of the bank's articles of incorporasume liability to pay deposits made in, tion or association including any amendanother bank or Institution, pursuant to ments thereto unless previously subsection 18(C) of the Federal Deposit In mitted to the Corporation and not subsesurance Act, as amended (12 U.S.C. quently amended. The application must 1828(c)), and for the establishment of be executed in quadruplicate. Three branches incident thereto pursuant to signed applications must be submitted to section 18(d) of the Act is required to the Regional Director of the Region submit statements, representations, and wherein the bank is located and one copy information with respect to the several may be retained by the bank. factors enumerated in said section 18(c). (1) Form 64: Report of condition Twelve copies of the application and all (from banks other than mutual savings). documents, schedules, and exhibits, in Form 64 is a report in the form of a cluding the agreement between the par standard statement of the assets and liaticipating banks and the charter or ar bilities of the reporting bank together ticles of incorporation of the resulting with additional detailed breakdown of or assuming bank, are to be executed selected items and information for asby an authorized officer with the bank's sessment purposes. When special circumcorporate seal affixed and forwarded to stances so require, additional detail with the Regional Director of the Federal respect to specific asset or liability items Deposit Insurance Corporation Region in may be required. Reports of condition which the applicant bank is located. The must be prepared in accordance with the Corporation will furnish the applicant instructions contained in the booklet enbank with a form of the notice (Form titled "Instructions for the preparation 116) for publication provided for in said of Report of Condition on Form 64," section 18(c).
copies of which are furnished by the Cor(j) Form 100: Application for con poration to all insured State nonmember sent to retirement of common or pre banks (except District banks) and which