CFR 12-159.13-2014 Banks and Banking. Part159:Subordinate organizations. Section159.13:How may a Federal savings association exercise its salvage power in connection with its service corporation or lower-tier entities?
(a) In accordance with this section, a Federal savings association (‘‘you’’) may exercise your salvage power to make a contribution or a loan (including a guarantee of a loan made by any other person) to your service corporation or lower-tier entity (‘‘salvage investment’’) that exceeds the maximum amount otherwise permitted under law or regulation. You must notify the appropriate OCC licensing office at least 30 days before making such a salvage investment. This notice must demonstrate that:
CFR 12-159.13-2014 history
2014CFR 12-159.13-2014 Banks and Banking. Part159:Subordinate organizations. Section159.13:How may a Federal savings association exercise its salvage power in connection with its service corporation or lower-tier entities?