12 CFR 101.7
§ 101.7 Reelection.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 101.7, § 101.7 Reelection, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/43659
- Permanent ID
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Full text
(a) Reelection. A Federal savings association that has terminated its election to operate as a covered savings association may submit a notice to reelect to operate as a covered savings association, if at least five years have elapsed since the effective date of the termination. Upon determining that good cause exists, the OCC may permit a Federal savings association to reelect to operate as a covered savings association prior to the expiration of the five-year period.
(b) Procedures and treatment. A Federal savings association reelecting to operate as a covered savings association shall comply with, and shall be subject to, the provisions of this part as if it were making an election for the first time.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.