In general

(A) Activities other than financial activities If a grandfathered unitary savings and loan holding company conducts activities other than financial activities, the Board may require such company to establish and conduct all or a portion of such financial activities in or through an intermediate holding company, which shall be a savings and loan holding company, established pursuant to regulations of the Board, not later than 90 days (or such longer period as the Board may deem appropriate) after the transfer date. 1 1 See References in Text note below.

(B) Other activities Notwithstanding subparagraph (A), the Board shall require a grandfathered unitary savings and loan holding company to establish an intermediate holding company if the Board makes a determination that the establishment of such intermediate holding company is necessary— (i) to appropriately supervise activities that are determined to be financial activities; or (ii) to ensure that supervision by the Board does not extend to the activities of such company that are not financial activities.

in view

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statutes/12/1467b.yaml

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Rules

grandfathered_internal_financial_activity_attribution_fraction

Parameter

source: 12 USC 1467b(b)(2)(B)

- name: grandfathered_internal_financial_activity_attribution_fraction
  kind: parameter
  dtype: Rate
  source: 12 USC 1467b(b)(2)(B)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1467b
            excerpt: at least ⅔ of the assets or ⅔ of the revenues
  versions:
    - effective_from: '0001-01-01'
      formula: 2 / 3

internal_financial_activity

Derived

source: 12 USC 1467b(a)

- name: internal_financial_activity
  kind: derived
  entity: Activity
  dtype: Judgment
  period: Day
  source: 12 USC 1467b(a)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: definition
          source:
            corpus_citation_path: us/statute/12/1467b
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        otherwise_internal_financial_activity

        or
        internal_financial_activity_conducted_by_grandfathered_savings_and_loan_holding_company_or_affiliate

        or activity_is_internal_treasury_investment_or_employee_benefit_function

grandfathered_internal_financial_activity_may_continue

Derived

source: 12 USC 1467b(b)(2)(B)

- name: grandfathered_internal_financial_activity_may_continue
  kind: derived
  entity: Activity
  dtype: Judgment
  period: Day
  source: 12 USC 1467b(b)(2)(B)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/12/1467b
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1467b
            excerpt: at least ⅔ of the assets or ⅔ of the revenues
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        internal_financial_activity

        and
        grandfathered_unitary_savings_and_loan_holding_company_engaged_in_activity_during_required_lookback_year

        and (
          activity_assets_from_or_attributable_to_company_fraction >= grandfathered_internal_financial_activity_attribution_fraction
          or activity_revenues_from_or_attributable_to_company_fraction >= grandfathered_internal_financial_activity_attribution_fraction
        )

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In general

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in view

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▸rulespec code

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statutes/12/1467b.yaml

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This encoding covers the parent provision us/statute/12/1467b; no dedicated encoding exists for this exact provision yet.

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Rules

grandfathered_internal_financial_activity_attribution_fraction

Parameter

source: 12 USC 1467b(b)(2)(B)

- name: grandfathered_internal_financial_activity_attribution_fraction
  kind: parameter
  dtype: Rate
  source: 12 USC 1467b(b)(2)(B)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1467b
            excerpt: at least ⅔ of the assets or ⅔ of the revenues
  versions:
    - effective_from: '0001-01-01'
      formula: 2 / 3

internal_financial_activity

Derived

source: 12 USC 1467b(a)

- name: internal_financial_activity
  kind: derived
  entity: Activity
  dtype: Judgment
  period: Day
  source: 12 USC 1467b(a)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: definition
          source:
            corpus_citation_path: us/statute/12/1467b
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        otherwise_internal_financial_activity

        or
        internal_financial_activity_conducted_by_grandfathered_savings_and_loan_holding_company_or_affiliate

        or activity_is_internal_treasury_investment_or_employee_benefit_function

grandfathered_internal_financial_activity_may_continue

Derived

source: 12 USC 1467b(b)(2)(B)

- name: grandfathered_internal_financial_activity_may_continue
  kind: derived
  entity: Activity
  dtype: Judgment
  period: Day
  source: 12 USC 1467b(b)(2)(B)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/12/1467b
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1467b
            excerpt: at least ⅔ of the assets or ⅔ of the revenues
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        internal_financial_activity

        and
        grandfathered_unitary_savings_and_loan_holding_company_engaged_in_activity_during_required_lookback_year

        and (
          activity_assets_from_or_attributable_to_company_fraction >= grandfathered_internal_financial_activity_attribution_fraction
          or activity_revenues_from_or_attributable_to_company_fraction >= grandfathered_internal_financial_activity_attribution_fraction
        )