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$ 302.5 Effective date.

SOURCE: The provisions of this part 803 Any rule issued by the Corporation

appear at 32 F.R. 10556, July 19, 1967, unless

otherwise noted. will be published or served not less than thirty (30) days prior to the effective § 303.1 Application by nonmember date thereof except as specified in § 302.6

bank · for deposit insurance. or otherwise excepted by law.

Application for deposit insurance by § 302.6 Exceptions.

an existing or proposed State nonmem

ber bank should be filed with the ReWhenever the Corporation finds that

gional Director of the Federal Deposit notice of, and public participation in,

Insurance Corporation Region in which rule making is impracticable, unneces

the bank or proposed bank is or will be şary, or contrary to the public interest,

located. Any such application by an exor there is good cause why the effective isting bank must be accompanied by date of any rule should not be deferred

separate applications for the consent of for thirty (30) days, the provisions of

the Corporation to the continued opera$$ 302.1, 302.2, and 302.5 shall not apply; tion of each branch which it proposes to and any such rule when published will continue to operate. Any such applicaincorporate the finding and a brief state

tion by a proposed bank must be accomment of the reasons therefor.

panied by a separate application for the 302.7 Amendment and repeal.

consent of the Corporation to establish

and operate each proposed branch. The The right to alter, amend, or repeal the whole or any part of any rule except

appropriate forms of application and in

structions for completing the same may as otherwise provided by law, is expressly

be obtained upon request from the Rereserved.

gional Director of the Region in which

the application originates. (See Part 304 PART 303-APPLICATIONS, RE of this title for list of forms and

QUESTS, AND SUBMITTALS instructions.) Sec.

(32 F.R. 10556, July 19, 1967, as amended at

36 F.R. 1248, Jan. 27, 1971) 303.1 Application by nonmember bank for deposit insurance.

$ 303.2 Application by insured State 303.2 Application by insured State non

nonmember bank to establish member bank to establish

branch. branch. 303.3 Application by insured State non Application by an insured State non

member bank to move main office member bank (except a District bank) or branch.

to establish and operate a new branch 303.4 Application by insured State non

should be filed with the Regional Direcmember bank to reduce or retire

tor of the Federal Deposit Insurance Corcapital.

poration Region in which the bank is 803.5 Application for conversion, merger,

located. The appropriate form of apconsolidation, assumption, and

plication and instructions for completsale of asset transactions. 303.6 Application by Insured State non

ing the same may be obtained upon remember bank to extend its cor

quest from the Regional Director of the porate or charter powers.

Region in which the application orig303.7 Application to continue or resume

inates. (See Part 304 of this title for list insured status.

of forms and instructions.) 803.8 Application for exemption from or 132 F.R. 10556, July 19, 1967, as amended at

exception to advertising require 36 F.R. 1248, Jan. 27, 1971; 36 F.R. 3112, Feb. ments.

18, 1971) 303.9 Other applications.

1 A nonmember bank is a bank which is 303.10 Procedure on applications. 303.11 Delegation of authority to act on

not a member of the Federal Reserve System, certain applications.

? "The term 'branch includes any branch

bank, branch office, branch agency, addi303.12 Applications where authority to act is not delegated.

tional office, or any branch place of busi303.13 Other delegations of authority.

ness located in any State of the United

States or in any Territory of the United 303.14 Application procedures.

States, Puerto Rico, Guam, American Samoa, AUTHORITY: The provisions of this Part 303 or the Virgin Islands at which deposits are Issued under secs. 5, 6, 8, 9, 18, 19, 64 Stat. received or checks paid or money lent.” (Sec. 876, 879, 881, 891, 893; 12 U.S.C. 1815, 1816, 3(0) of the Federal Deposit Insurance Act, 1818, 1819, 1828, 1829.

as amended (12 U.S.C. 1813(0)).

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8 303.3 Application by insured State

nonmember bank to move main

office or branch. Application for the consent of the Corporation to move the main office or branch of an insured State nonmember bank (except a District bank) should be fled 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. 10656, July 19, 1967, as amended at 86 F.R. 1248, Jan. 27, 1971) 8 303.4 Application by insured State

nonmember bank to reduce or retire

capital. Application for the consent of the Corporation to the reduction in the amount, or retirement of any part, of the common or preferred capital stock, or retirement of any of the capital notes or debentures, of an insured State nonmember bank (except a District bank) 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 Insrtuctions.) (32 F.R. 10556, July 19, 1967, as amended at 86 F.R. 1248, Jan. 27, 1971) 8 303.5 Application for conversion,

merger, consolidation, assumption

and sale of asset transactions. (a) With noninsured bank or institution. Application by an insured bank for the consent of the Corporation to merge or consolidate with a noninsured bank or institution, or to convert into a noninsured institution, or to assume liability to pay any deposits made in, or similar liabilities of, any noninsured bank or Institution, or to transfer assets to any noninsured bank or institution in consideration of the assumption of liability for any portion of the deposits made in such insured bank, together with copies of all agreements or proposed agreements relating thereto, should be filed with the Regional Director of the Federal

Deposit Insurance Corporation Region in which the insured bank is located. The appropriate form of application and instructions for completing the form, as well as instructions concerning notice to depositors, may be obtained upon request from the office of said Regional Director.

(b) Conversion with diminution of capital or surplus. Application for the appropriate form of application and into an insured State nonmember bank (except a District bank)—when the conversion will result in the converted bank's having less capital stock or surplus than the converted bank at the time of the shareholders' meeting approving such conversion-together with copies of the charter and/or articles of association of the converted bank, should be filed with the Regional Director of the Federal Deposit Insurance Corporation Region in which the insured bank is located. The appropriate form of application and instructions for completing the form may be obtained upon request from the office of said Regional Director.

(c) Merger, consolidation, asset acquisition or assumption transaction between insured banks. Application by an insured bank for the consent of the Corporation to merge or consolidate with, acquire the assets of, or assume the liability to pay any deposits made in, another insured bank—when che resulting or assuming bank is to be an insured State nonmember bank (except a District bank)-together with copies of all agreements or proposed agreements relating thereto, including the charter or articles of incorporation of the resulting or assuming bank, should be filed with the Regional Director of the Federal Deposit Insurance Corporation Region in which the resulting or assuming bank is located. The appropriate form of application and instructions for completing the same may be obtained upon request from the office of said Regional Director. 132 F.R. 10556, July 19, 1967, as amended at 36 F.R. 1248, Jan. 27, 1971) $ 303.6 Application by insured Stato

nonmember bank to extend its cor

porate or charter powers. Application for the consent of the Corporation to the extension of the corporate or charter powers of an insured State nonmember bank (except a District bank) 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 FR. 10656, July 19, 1967, as amended at 36 F.R. 1248, Jan, 27, 1971) § 303.7 Application to continue or re

sume insured status. Application under $ 327.3(c) of this title by a bank whose insured status has been terminated for permission to continue or to resume its status as an insured bank should be filed with the Regional Director of the Federal Deposit Insurance Corporation Region in which the bank is located. Such application should (a) be in writing, (b) be signed by the president, or cashier, or other managing officer of the bank, (c) be accompanied by a certified copy of the resolution of its board of directors authorizing the submission of such application, (d) contain a statement that the bank's insured status has been terminated (including the date thereof and the basis therefor), that the insurance of its deposits has not ceased, and that it applies for permission to continue or resume its status as an insured bank, and (e) state the reasons why the continuance or resumption of such status should be permitted by the Corporation. (32 F.R. 10656, July 19, 1967, as amended at 36 F.R. 1248, Jan. 27, 1971) & 303.8 Application for exemption from

or exception to advertising require

ments. Any application made by an insured bank under any of the provisions of Part 328 of this title should be filed with the Division of Bank Supervision of the Corporation at its principal office. Such application should (a) be in writing, (b) be signed by the president, or cashier, or other managing officer of the bank, and (c) state, in conformity with the particular provision in respect of which the application is made, the reason for the request in detail and the reason why the application should be granted. (32 F.R. 10556, July 19, 1967, as amended at 36 F.R. 1248, Jan, 27, 1971) § 303.9

Other applications. Except as otherwise provided by rule or regulation, all applications, requests, and submittals for which no form of application has been prescribed by the Corporation should (a) be in writing, (b)

be signed by the applicant or his duly authorized agent, (c) contain a statement of the applicant's interest therein, a complete and concise statement of the action requested and the reasons and facts relied upon as the basis for such requested action, and (d) be addressed to the Executive Secretary of the Corporation at the principal office of the Corporation. The applicant shall furnish such other pertinent information as may be required by the Corporation. Whenever applicable, the forms specified in Part 304 of this title should be used, the instructions issued with respect thereto should be followed, and submission should be made as therein provided. (32 FR 10556, July 19, 1967, as amended at 38 FR 14263, May 31, 1973] 8 303.10 Procedure on applications.

(a) Applications for deposit insurance. With respect to applications for deposit insurance under $ 303.1, the Division of Bank Supervision of the Corporation will cause an investigation to be conducted and an examination to be made of the bank or proposed bank. Thereafter, the Board of Directors, in accordance with applicable provisions of law, will act upon such application after considering the report of such investigation and examination, the recommendations thereon of the examiner and Regional Director of the region in which the bank is or will be located, the recommendations of the Division of Bank Supervision, the recommendations of the duly constituted committees with respect to matters referred to them, and the legal opinion of counsel for the Corporation. The applicant bank will be duly advised of the Board's decision upon such application.

(b) Other applications. With respect to all other applications, requests, or submittals, the Board of Directors will cause such an investigation or examination, or both, to be made by the proper Divisions of the Corporation as the Board shall deem appropriate. Where the application is one authorized to be approved by the Director of the Division of Bank Supervision or by a Regional Director, under $ 303.11, he shall cause such an investigation or examination, or both, to be made by his examining staff, as he shall deem appropriate. Upon the report of such investigation and examination, and the recommendations thereon, the Board of Directors or the Director of the Division of Bank Supervision, or

8 303.3 Application by insured State

nonmember bank to move main

office or branch. Application for the consent of the Corporation to move the main ofice or branch of an insured State nonmember bank (except a District bank) 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.) 132 F.R. 10656, July 19, 1967, as amended at 86 F.R. 1248, Jan. 27, 1971) 8 303.4 Application by insured State

nonmember bank to reduce or retire

capital. Application for the consent of the Corporation to the reduction in the amount, or retirement of any part, of the common or preferred capital stock, or retirement of any of the capital notes or debentures, of an insured State nonmember bank (except a District bank) 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 Insrtuctions.) (32 F.R. 10556, July 19, 1967, as amended at 86 F.R. 1248, Jan. 27, 1971) 8 303.5 Application for conversion,

merger, consolidation, assumption

And sale of asset transactions. (a) With noninsured bank or institution. Application by an insured bank for the consent of the Corporation to merge or consolidate with a noninsured bank or institution, or to convert into a noninsured institution, or to assume liability to pay any deposits made in, or similar Habilities of, any noninsured bank or institution, or to transfer assets to any poninsured bank or institution in consideration of the assumption of liability for any portion of the deposits made in such insured bank, together with copies of all agreements or proposed agreements relating thereto, should be filed with the Regional Director of the Federal

Deposit Insurance Corporation Region in which the insured bank is located. The appropriate form of application and instructions for completing the form, as well as instructions concerning notice to depositors, may be obtained upon request from the office of said Regional Director.

(b) Conversion with diminution of capital or surplus. Application for the appropriate form of application and into an insured State nonmember bank (except a District bank)—when the conversion will result in the converted bank's having less capital stock or surplus than the converted bank at the time of the shareholders' meeting approving such conversion-together with copies of the charter and/or articles of association of the converted bank, should be filed with the Regional Director of the Federal Deposit Insurance Corporation Region in which the insured bank is located. The appropriate form of application and instructions for completing the form may be obtained upon request from the office of said Regional Director.

(c) Merger, consolidation, asset acquisition or assumption transaction between insured banks. Application by an insured bank for the consent of the Corporation to merge or consolidate with, acquire the assets of, or assume the liability to pay any deposits made in, another insured bank—when che resulting or assuming bank is to be an insured State nonmember bank (except a District bank)-together with copies of all agreements or proposed agreements relating thereto, including the charter or articles of incorporation of the resulting or assuming bank, should be filed with the Regional Director of the Federal Deposit Insurance Corporation Region in which the resulting or assuming bank is located. The appropriate form of application and instructions for completing the same may be obtained upon request from the office of said Regional Director. (32 F.R. 10556, July 19, 1967, as amended at 36 F.R. 1248, Jan. 27, 1971) § 303.6 Application by insured Stato

nonmember bank to extend its cor

porate or charter powers. Application for the consent of the Corporation to the extension of the corporate or charter powers of an insured State nonmember bank (except a District bank) 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. 10656, July 19, 1967, as amended at 36 F.R. 1248, Jan. 27, 1971) § 303.7 Application to continue or re

sume insured status. Application under $ 327.3(c) of this title by a bank whose insured status has been terminated for permission to continue or to resume its status as an insured bank should be filed with the Regional Director of the Federal Deposit Insurance Corporation Region in which the bank is located. Such application should (a) be in writing, (b) be signed by the president, or cashier, or other managing officer of the bank, (c) be accompanied by a certified copy of the resolution of its board of directors authorizing the submission of such application, (d) contain a statement that the bank's insured status has been terminated (including the date thereof and the basis therefor), that the insurance of its deposits has not ceased, and that it applies for permission to continue or resume its status as an insured bank, and (e) state the reasons why the continuance or resumption of such status should be permitted by the Corporation. (32 F.R. 10556, July 19, 1967, as amended at 36 F.R. 1248, Jan. 27, 1971) & 303.8 Application for exemption from

or exception to advertising require

ments. Any application made by an insured bank under any of the provisions of Part 328 of this title should be filed with the Division of Bank Supervision of the Corporation at its principal office. Such application should (a) be in writing, (b) be signed by the president, or cashier, or other managing officer of the bank, and (c) state, in conformity with the particular provision in respect of which the application is made, the reason for the request in detail and the reason why the application should be granted. 132 F.R. 10556, July 19, 1967, as amended at 36 F.R. 1248, Jan. 27, 1971) 8 303.9 Other applications.

Except as otherwise provided by rule or regulation, all applications, requests, and submittals for which no form of application has been prescribed by the Corporation should (a) be in writing, (b)

be signed by the applicant or his duly authorized agent, (c) contain a statement of the applicant's interest therein, a complete and concise statement of the action requested and the reasons and facts relied upon as the basis for such requested action, and (d) be addressed to the Executive Secretary of the Corporation at the principal office of the Corporation. The applicant shall furnish such other pertinent information as may be required by the Corporation. Whenever applicable, the forms specified in Part 304 of this title should be used, the instructions issued with respect thereto should be followed, and submission should be made as therein provided. 132 FR 10556, July 19, 1967, as amended at 38 FR 14263, May 31, 1973] § 303.10 Procedure on applications.

(a) Applications for deposit insurance. With respect to applications for deposit insurance under $ 303.1, the Division of Bank Supervision of the Corporation will cause an investigation to be conducted and an examination to be made of the bank or proposed bank. Thereafter, the Board of Directors, in accordance with applicable provisions of law, will act upon such application after considering the report of such investigation and examination, the recommendations thereon of the examiner and Regional Director of the region in which the bank is or will be located, the recommendations of the Division of Bank Supervision, the recommendations of the duly constituted committees with respect to matters referred to them, and the legal opinion of counsel for the Corporation. The applicant bank will be duly advised of the Board's decision upon such application.

(b) Other applications. With respect to all other applications, requests, or submittals, the Board of Directors will cause such an investigation or examination, or both, to be made by the proper Divisions of the Corporation as the Board shall deem appropriate. Where the application is one authorized to be approved by the Director of the Division of Bank Supervision or by a Regional Director, under $ 303.11, he shall cause such an investigation or examination, or both, to be made by his examining staff, as he shall deem appropriate. Upon the report of such investigation and examination, and the recommendations thereon, the Board of Directors or the Director of the Division of Bank Supervision, or

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