Browse Arkansas Code titles and sections

12 U.S.C. § 3201 — Definitions

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 3201 — Definitions

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 3201

Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.

Original supplied file — preserved unchanged

Download original Markdown file

File SHA-256: 25788f65f5525aa7235de9c1a646d98e23a97c54a48582bfc1d335fcde9343f7. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.

Authority boundary: historical or unconfirmed source not current law verified.

Open the recorded source website ↗

Record provenance

Stable record: federal_law:legal_authorities:record_usc_4d482a3a225b0d7164562166
Source file: Laws/federal/codes/united-states-code/title-12/section-3201-definitions--17db4b0511.md
Pages: Not recorded – Not recorded
Passage SHA-256: 33bcdfd0c69e60dc60744e0042b94e388449831faa3e76fa14f2bfa3f3978910

Source location: Title 12, Chapter 33, § 3201; chapter-033-depository-institution-management-interlocks.md

Stored source content

As used in this chapter— (1) the term “depository institution” means a commercial bank, a savings bank, a trust company, a savings and loan association, a building and loan association, a homestead association, a cooperative bank, an industrial bank, or a credit union; (2) the term “depository holding company” means a bank holding company as defined in [section 1841(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1841/a&num=0&edition=prelim), a company which would be a bank holding company as defined in [section 1841(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1841/a&num=0&edition=prelim) but for the exemption contained in subsection (a)(5)(F) thereof, or a savings and loan holding company as defined in section 1730a(a)(1)(D) 11 See References in Text note below. of this title; (3) the characterization of any corporation (including depository institutions and depository holding companies), as an “affiliate of,” or as “affiliated” with any other corporation means that— (A) one of the corporations is a depository holding company and the other is a subsidiary thereof, or both corporations are subsidiaries of the same depository holding company, as the term “subsidiary” is defined in either [section 1841(d) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1841/d&num=0&edition=prelim) in the case of a bank holding company or section 1730a(a)(1)(H) 1 of this title in the case of a savings and loan holding company; or (B) more than 25 percent of the voting stock of one corporation is beneficially owned in the aggregate by one or more persons who also beneficially own in the aggregate more than 25 percent of the voting stock of the other corporation; or (C) one of the corporations is a trust company all of the stock of which, except for directors qualifying shares, was owned by one or more mutual savings banks on November 10, 1978, and the other corporation is a mutual savings bank; or (D) one of the corporations is a bank, insured by the Federal Deposit Insurance Corporation and chartered under State law, and is a bankers’ bank, described in Paragraph Seventh of [section 24 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section24&num=0&edition=prelim); or (E) one of the corporations is a bank, chartered under State law and insured by the Federal Deposit Insurance Corporation, the voting securities of which are held only by persons who are officers of other banks, as permitted by State law, and which bank is primarily engaged in providing banking services for other banks and not the public: Provided, however, That in no case shall the voting securities of such corporation be held by such officers of other banks in excess of 6 per centum of the paid-in capital and 6 per centum of the surplus of such a bank.22 So in original. The period probably should be a semicolon. (4) the term “management official” means an employee or officer with management functions, a director (including an advisory or honorary director, except in the case of a depository institution with total assets of less than $100,000,000), a trustee of a business organization under the control of trustees, or any person who has a representative or nominee serving in any such capacity: Provided, That if a corporator, trustee, director, or other officer of a State-chartered savings bank or cooperative bank is specifically authorized under the laws of the State in which said institution is located to serve as a trustee, director, or other officer of a State-chartered trust company which does not make real estate mortgage loans and does not accept savings deposits from natural persons, then, for the purposes of this chapter, such corporator, trustee, director, or other officer shall not be deemed to be a management official of such trust company: And provided further, That if a management official of a State-chartered trust company which does not make real estate mortgage loans and does not accept savings deposits from natural persons is specifically authorized under the laws of the State in which said institution is located to serve as a corporator, trustee, director, or other officer of a State-chartered savings bank or cooperative bank, then, for the purposes of this chapter, such management official shall not be deemed to be a management official of any such savings bank or cooperative bank; (5) the term “office” used with reference to a depository institution means either a principal office or a branch; and (6) the term “appropriate Federal depository institutions regulatory agency” means, with respect to any depository institution or depository holding company, the agency referred to in [section 3207 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3207&num=0&edition=prelim) in connection with such institution or company.

Cross-references

Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 3207 — Rules and regulations

Regulations to carry out this chapter, including regulations that permit service by a management official that would otherwise be prohibited by [section 3202 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3202&num=0&edition=prelim) or [section 3203 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3203&num=0&edition=prelim), if such service would not result in a monopoly or substantial lessening of competition, may be prescribed by— (1) the Comptroller of the Currency with respect to national banks and Federal savings associations (the deposits of which are insured by the Federal Deposit Insurance Corporation), (2) the Board of Governors of the Federal Reserve System with respect to State banks which are members of the Federal Reserve System, bank holding companies, and savings and loan holding companies, (3) the Board of Directors of the Federal Deposit Insurance Corporation with respect to State banks which are not members of the Federal Reserve System but the deposits of which are insured by the Federal Deposit Insurance Corporation and State savings associations (the deposits of which are insured by the Federal Deposit Insurance Corporation), (4) the National Credit Union Administration with respect to credit unions the accounts of which are insured by the National Credit Union Administration.

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 3207

Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 375b — Extensions of credit to executive officers, directors, and principal shareholders of member banks

(1) **In general** — No member bank may extend credit to any of its executive officers, directors, or principal shareholders, or to any related interest of such a person, except to the extent permitted under paragraphs (2), (3), (4), (5), and (6). (2) **Preferential terms prohibited** (A) *In general* — A member bank may extend credit to its executive officers, directors, or principal shareholders, or to any related interest of such a person, only if the extension of credit— (i) is made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions by the bank with persons who are not executive officers, directors, principal shareholders, or employees of the bank; (ii) does not involve more than the normal risk of repayment or present other unfavorable features; and (iii) the bank follows credit underwriting procedures that are not less stringent than those applicable to comparable transactions by the bank with persons who are not executive officers, directors, principal shareholders, or employees of the bank. (B) *Exception* — Nothing in this paragraph shall prohibit any extension of credit made pursuant to a benefit or compensation program— (i) that is widely available to employees of the member bank; and (ii) that does not give preference to any officer, director, or principal shareholder of the member bank, or to any related interest of such person, over other employees of the member bank. (3) **Prior approval required** — A member bank may extend credit to a person described in paragraph (1) in an amount that, when aggregated with the amount of all other outstanding extensions of credit by that bank to each such person and that person’s related interests, would e

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 375b

Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 24 — Corporate powers of associations

Upon duly making and filing articles of association and an organization certificate a national banking association shall become, as from the date of the execution of its organization certificate, a body corporate, and as such, and in the name designated in the organization certificate, it shall have power—

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 24

Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1787 — Termination of insured credit union status; cease and desist orders; removal or suspension from office; procedure

**(a) Termination of insurance** (1) Any insured credit union other than a Federal credit union may, upon not less than ninety days’ written notice to the Board and upon the affirmative vote of a majority of its members within one year prior to the giving of such notice, terminate its status as an insured credit union. (2) Any insured credit union, other than a Federal credit union, which has obtained a new certificate of insurance from a corporation authorized and duly licensed to insure member accounts may upon not less than ninety days’ written notice to the Board convert from status as an insured credit union under this chapter: Provided, That at the time of giving notice to the Board the provisions of paragraph (b)(1) of this section are not being invoked against the credit union. **(b) Unsound condition of credit union; notice to correct condition; hearing; judicial review** (1) Whenever, in the opinion of the Board, any insured credit union is engaging or has engaged in unsafe or unsound practices in conducting the business of such credit union, or is in an unsafe or unsound condition to continue operations as an insured credit union, or is violating or has violated an applicable law, rule, regulation, order, or any condition imposed in writing by the Board in connection with any action on any application, notice, or other request by the credit union or institution-affiliated party,, 11 So in original. or is violating or has violated any written agreement entered into with the Board, the Board shall serve upon the credit union a statement with respect to such practices or conditions or violations for the purpose of securing the correction thereof. In the case of an insured State-chartered credit union, the Board shall send a copy of such statement to the comm

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1787

Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1818 — Termination of status as insured depository institution

**(a) Termination of insurance** (1) **Voluntary termination** — Any insured depository institution which is not— (A) a national member bank; (B) a State member bank; (C) a Federal branch; (D) a Federal savings association; or (E) an insured branch which is required to be insured under subsection (a) or (b) 11 See References in Text note below. of [section 3104 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3104&num=0&edition=prelim), may terminate such depository institution’s status as an insured depository institution if such insured institution provides written notice to the Corporation of the institution’s intent to terminate such status not less than 90 days before the effective date of such termination. (2) **Involuntary termination** (A) *Notice to primary regulator* — If the Board of Directors determines that— (i) an insured depository institution or the directors or trustees of an insured depository institution have engaged or are engaging in unsafe or unsound practices in conducting the business of the depository institution; (ii) an insured depository institution is in an unsafe or unsound condition to continue operations as an insured institution; or (iii) an insured depository institution or the directors or trustees of the insured institution have violated any applicable law, regulation, order, condition imposed in writing by the Corporation in connection with the approval of any application or other request by the insured depository institution, or written agreement entered into between the insured depository institution and the Corporation, the Board of Directors shall notify the appropriate Federal banking agency with respect to such institution (if other than the Corp

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1818

Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1823 — Corporation monies

**(a) Investment of Corporation’s funds** (1) **Authority** — Funds held in the Deposit Insurance Fund or the FSLIC Resolution Fund, that are not otherwise employed shall be invested in obligations of the United States or in obligations guaranteed as to principal and interest by the United States. (2) **Limitation** — The Corporation shall not sell or purchase any obligations described in paragraph (1) for its own account, at any one time aggregating in excess of $100,000, without the approval of the Secretary of the Treasury. The Secretary may approve a transaction or class of transactions subject to the provisions of this paragraph under such conditions as the Secretary may determine. **(b) Depository accounts** The depository accounts of the Corporation shall be kept with the Treasurer of the United States, or, with the approval of the Secretary of the Treasury, with a Federal Reserve bank, or with a depository institution designated as a depository or fiscal agent of the United States: Provided, That the Secretary of the Treasury may waive the requirements of this subsection under such conditions as he may determine: And provided further, That this subsection shall not apply to the establishment and maintenance in any depository institution for temporary purposes of depository accounts not in excess of $50,000 in any one depository institution, or to the establishment and maintenance in any depository institution of any depository accounts to facilitate the payment of insured deposits, or the making of loans to, or the purchase of assets of, insured depository institutions. When designated for that purpose by the Secretary of the Treasury, the Corporation shall be a depositary of public moneys, except receipts from customs, under such regulations as may be prescr

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1823

Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 5368 — Prohibition against management interlocks between certain financial companies

A nonbank financial company supervised by the Board of Governors shall be treated as a bank holding company for purposes of the Depository Institutions 11 So in original. Probably should be “Institution”. Management Interlocks Act ([12 U.S.C. 3201](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3201&num=0&edition=prelim) et seq.), except that the Board of Governors shall not exercise the authority provided in section 7 22 So in original. There is no section 7 of such Act. of that Act ([12 U.S.C. 3207](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3207&num=0&edition=prelim)) to permit service by a management official of a nonbank financial company supervised by the Board of Governors as a management official of any bank holding company with total consolidated assets equal to or greater than $250,000,000,000, or other nonaffiliated nonbank financial company supervised by the Board of Governors (other than to provide a temporary exemption for interlocks resulting from a merger, acquisition, or consolidation).

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5368

Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 3201 — Definitions

Page 1511 TITLE 12—BANKS AND BANKING § 3201 1 See References in Text note below. 2 So in original. The period probably should be a semicolon. Sec. 3205. Management official in position prior to No- vember 10, 1978. 3206. Administration and enforcement. 3207. Rules and regulations. 3208. Powers available to Attorney General for en- forcement. § 3201. Definitions As used in this chapter— (1) the term ‘‘depository institution’’ means a commercial bank, a savings bank, a trust company, a savings and loan association, a building and loan association, a homestead as- sociation, a cooperative bank, an industrial bank, or a credit union; (2) the term ‘‘depository holding company’’ means a bank holding company as defined in section 1841(a) of this title, a company which would be a bank holding company as defined in section 1841(a) of this title but for the ex- emption contained in subsection (a)(5)(F) thereof, or a savings and loan holding com- pany as defined in section 1730a(a)(1)(D) 1 of this title; (3) the characterization of any corporation (including depository institutions and deposi- tory holding companies), as an ‘‘affiliate of,’’ or as ‘‘affiliated’’ with any other corporation means that— (A) one of the corporations is a depository holding company and the other is a sub- sidiary thereof, or both corporations are sub- sidiaries of the same depository holding company, as the term ‘‘subsidiary’’ is de- fined in either section 1841(d) of this title in the case of a bank holding company or sec- tion 1730a(a)(1)(H) 1 of this title in the case of a savings and loan holding company; or (B) more than 25 percent of the voting stock of one corporation is beneficially owned in the aggregate by one or more per- sons who also beneficially own in the

Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 3201

Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.