Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 12 - Banks and Banking |
Chapter II - Federal Reserve System |
SubChapter A - Board of Governors of the Federal Reserve System |
Part 238 - Savings and Loan Holding Companies (Regulation LL) |
Subpart I - Prohibited Service at Savings and Loan Holding Companies |
§ 238.87 - Filing procedures.
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§ 238.87 Filing procedures.
(a) Who may file.
(1) A savings and loan holding company or a person who was convicted of a criminal offense described in § 238.84 or who has agreed to enter into a pre-trial diversion or similar program in connection with a prosecution for such a criminal offense may file an application with the Board seeking an exemption from the prohibitions in this subpart.
(2) A savings and loan holding company or a person may seek an exemption only for a designated position (or positions) with respect to a named savings and loan holding company.
(3) A savings and loan holding company or a person may not file an application less than one year after the latter of the date of a denial of the same exemption under § 238.89(b), § 238.90(a) or § 238.90(d).
(b) Prohibition pending Board action. Unless a savings and loan holding company or a person is exempt under § 238.86(b), the prohibitions in § 238.83 continue to apply pending Board action on the application.