12 CFR 163.201
§ 163.201 Corporate opportunity.
United States · 12 CFR — Banks and Banking · Status: effective
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- Citation
- 12 CFR 163.201, § 163.201 Corporate opportunity, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/43889
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Full text
(a) If you are a director or officer of a Federal savings association, or have the power to direct its management or policies, or otherwise owe a fiduciary duty to a Federal savings association, you must not take advantage of corporate opportunities belonging to the savings association.
(b) A corporate opportunity belongs to a Federal savings association if:
(1) The opportunity is within the corporate powers of the savings association or a subsidiary of the savings association; and
(2) The opportunity is of present or potential practical advantage to the savings association, either directly or through its subsidiary.
(c) The OCC will not deem you to have taken advantage of a corporate opportunity belonging to the Federal savings association if a disinterested and independent majority of the savings association's board of directors, after receiving a full and fair presentation of the matter, rejected the opportunity as a matter of sound business judgment.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.