§ 5.42 - Corporate title of a national bank or Federal savings association.

§ 5.42 Corporate title of a national bank or Federal savings association.

Cross Reference

Link to an amendment published at 85 FR 80462, Dec. 11, 2020.

(a) Authority. 12 U.S.C. 21a, 30, 93a, 1462a, 1463, 1464, 1467a, 2901 et. seq. and, 5412(b)(2)(B).

(b) Scope. This section describes the method by which a national bank or Federal savings association may change its corporate title.

(c) Standards.

(1) A national bank or Federal savings association may change its corporate title provided that the new title complies with applicable laws, including 18 U.S.C. 709, regarding false advertising and the misuse of names to indicate a Federal agency, and any applicable OCC guidance.

(2) For a national bank, the new title must include the word “national.”

(d) Procedures -

(1) Notice process. A national bank or Federal savings association shall must promptly notify the appropriate OCC licensing office if it changes its corporate title. The notice must contain the old and new titles and the effective date of the change.

(2) Amendment to articles of association. A national bank whose corporate title is specified in its articles of association shall must amend its articles, in accordance with the procedures of 12 U.S.C. 21a, to change its title.

(3) Amendment to charter. A Federal savings association shall change its title by amending its must amend its charter in accordance with 12 CFR § 5.21 or § 5.22, as applicable, to change its title.

(4) Exceptions to rules of general applicability. Sections 5.8, 5.9, 5.10, 5.11, and 5.13 (a) do not apply to a national bank or Federal savings association's change of corporate title. However, if the OCC concludes that the application notice presents a significant or novel policy, supervisory, or legal issue, the OCC may determine that any or all parts of §§ 5.8, 5.9, 5.10, 5.11, and 5.13(a) apply.

[80 FR 28453, May 18, 2015, as amended at 85 FR 80462, Dec. 11, 2020]