Notice and hearing requirements

Official source

Upon receiving from a company any application for approval under this section, the Board shall give notice to the Comptroller of the Currency, if the applicant company or any bank the voting shares or assets of which are sought to be required 2 2 So in original. Probably should be “acquired”. is a national banking association, or to the appropriate supervisory authority of the interested State, if the applicant company or any bank the voting shares or assets of which are sought to be acquired is a State bank, in order to provide for the submission of the views and recommendations of the Comptroller of the Currency or the State supervisory authority, as the case may be. The views and recommendations shall be submitted within thirty calendar days of the date on which notice is given, or within ten calendar days of such date if the Board advises the Comptroller of the Currency or the State supervisory authority that an emergency exists requiring expeditious action. If the thirty-day notice period applies and if the Comptroller of the Currency or the State supervisory authority so notified by the Board disapproves the application in writing within this period, the Board shall forthwith give written notice of that fact to the applicant. Within three days after giving such notice to the applicant, the Board shall notify in writing the applicant and the disapproving authority of the date for commencement of a hearing by it on such application. Any such hearing shall be commenced not less than ten nor more than thirty days after the Board has given written notice to the applicant of the action of the disapproving authority. The length of any such hearing shall be determined by the Board, but it shall afford all interested parties a reasonable opportunity to testify at such hearing. At the conclusion thereof, the Board shall, by order, grant or deny the application on the basis of the record made at such hearing. In the event of the failure of the Board to act on any application for approval under this section within the ninety-one-day period which begins on the date of submission to the Board of the complete record on that application, the application shall be deemed to have been granted. Notwithstanding any other provision of this subsection, if the Board finds that it must act immediately on any application for approval under this section in order to prevent the probable failure of a bank or bank holding company involved in a proposed acquisition, merger, or consolidation transaction, the Board may dispense with the notice requirements of this subsection, and if notice is given, the Board may request that the views and recommendations of the Comptroller of the Currency or the State supervisory authority, as the case may be, be submitted immediately in any form or by any means acceptable to the Board. If the Board has found pursuant to this subsection either that an emergency exists requiring expeditious action or that it must act immediately to prevent probable failure, the Board may grant or deny any such application without a hearing notwithstanding any recommended disapproval by the appropriate supervisory authority.

Notice and hearing requirements

Official source

- name: voting_share_prior_approval_threshold kind: parameter dtype: Rate source: 12 USC 1842(a) metadata: proof: atoms: - path: versions[0].formula kind: parameter source: corpus_citation_path: us/statute/12/1842 excerpt: more than 5 per centum of the voting shares versions: - effective_from: '0001-01-01' formula: '0.05'

- name: debt_collection_share_disposition_period_years kind: parameter dtype: Count source: 12 USC 1842(a) metadata: proof: atoms: - path: versions[0].formula kind: parameter source: corpus_citation_path: us/statute/12/1842 excerpt: disposed of within a period of two years versions: - effective_from: '0001-01-01' formula: '2'

- name: board_extension_period_limit_years kind: parameter dtype: Count source: 12 USC 1842(a) metadata: proof: atoms: - path: versions[0].formula kind: parameter source: corpus_citation_path: us/statute/12/1842 excerpt: for not more than one year at a time versions: - effective_from: '0001-01-01' formula: '1'

- name: aggregate_extension_limit_years kind: parameter dtype: Count source: 12 USC 1842(a) metadata: proof: atoms: - path: versions[0].formula kind: parameter source: corpus_citation_path: us/statute/12/1842 excerpt: no such extension shall in the aggregate exceed three years versions: - effective_from: '0001-01-01' formula: '3'

- name: post_acquisition_retention_application_period_days kind: parameter dtype: Count source: 12 USC 1842(a) metadata: proof: atoms: - path: versions[0].formula kind: parameter source: corpus_citation_path: us/statute/12/1842 excerpt: application filed within ninety days after the shares are acquired versions: - effective_from: '0001-01-01' formula: '90'

- name: supervisory_views_submission_period_days kind: parameter dtype: Count source: 12 USC 1842(b) metadata: proof: atoms: - path: versions[0].formula kind: parameter source: corpus_citation_path: us/statute/12/1842 excerpt: within thirty calendar days of the date on which notice is given versions: - effective_from: '0001-01-01' formula: '30'

- name: emergency_views_submission_period_days kind: parameter dtype: Count source: 12 USC 1842(b) metadata: proof: atoms: - path: versions[0].formula kind: parameter source: corpus_citation_path: us/statute/12/1842 excerpt: >- within ten calendar days of such date if the Board advises ... that an emergency exists versions: - effective_from: '0001-01-01' formula: '10'

- name: hearing_notice_after_disapproval_period_days kind: parameter dtype: Count source: 12 USC 1842(b) metadata: proof: atoms: - path: versions[0].formula kind: parameter source: corpus_citation_path: us/statute/12/1842 excerpt: Within three days after giving such notice to the applicant versions: - effective_from: '0001-01-01' formula: '3'

- name: hearing_commencement_minimum_days kind: parameter dtype: Count source: 12 USC 1842(b) metadata: proof: atoms: - path: versions[0].formula kind: parameter source: corpus_citation_path: us/statute/12/1842 excerpt: commenced not less than ten nor more than thirty days versions: - effective_from: '0001-01-01' formula: '10'

- name: hearing_commencement_maximum_days kind: parameter dtype: Count source: 12 USC 1842(b) metadata: proof: atoms: - path: versions[0].formula kind: parameter source: corpus_citation_path: us/statute/12/1842 excerpt: commenced not less than ten nor more than thirty days versions: - effective_from: '0001-01-01' formula: '30'

- name: deemed_grant_action_period_days kind: parameter dtype: Count source: 12 USC 1842(b) metadata: proof: atoms: - path: versions[0].formula kind: parameter source: corpus_citation_path: us/statute/12/1842 excerpt: within the ninety-one-day period versions: - effective_from: '0001-01-01' formula: '91'

- name: anticompetitive_effects_public_interest_override_required kind: derived entity: Business dtype: Judgment period: Year source: 12 USC 1842(c) metadata: proof: atoms: - path: versions[0].formula kind: predicate source: corpus_citation_path: us/statute/12/1842 versions: - effective_from: '0001-01-01' formula: |- proposed_transaction_may_substantially_lessen_competition or proposed_transaction_may_tend_to_create_monopoly or proposed_transaction_would_otherwise_restrain_trade

- name: bank_stock_loan_maturity_safe_harbor_years kind: parameter dtype: Count source: 12 USC 1842(c) metadata: proof: atoms: - path: versions[0].formula kind: parameter source: corpus_citation_path: us/statute/12/1842 excerpt: a bank stock loan which is for a period of not more than twenty-five years versions: - effective_from: '0001-01-01' formula: '25'

- name: bank_stock_loan_case_by_case_maturity_years kind: parameter dtype: Count source: 12 USC 1842(c) metadata: proof: atoms: - path: versions[0].formula kind: parameter source: corpus_citation_path: us/statute/12/1842 excerpt: having a maturity of twelve years or more on a case by case basis versions: - effective_from: '0001-01-01' formula: '12'

- name: host_state_age_law_federal_override_years kind: parameter dtype: Count source: 12 USC 1842(d) metadata: proof: atoms: - path: versions[0].formula kind: parameter source: corpus_citation_path: us/statute/12/1842 excerpt: in existence for at least 5 years versions: - effective_from: '0001-01-01' formula: '5'

- name: nationwide_deposit_concentration_limit kind: parameter dtype: Rate source: 12 USC 1842(d) metadata: proof: atoms: - path: versions[0].formula kind: parameter source: corpus_citation_path: us/statute/12/1842 excerpt: more than 10 percent of the total amount of deposits versions: - effective_from: '0001-01-01' formula: '0.10'

- name: statewide_deposit_concentration_limit kind: parameter dtype: Rate source: 12 USC 1842(d) metadata: proof: atoms: - path: versions[0].formula kind: parameter source: corpus_citation_path: us/statute/12/1842 excerpt: would control 30 percent or more of the total amount of deposits versions: - effective_from: '0001-01-01' formula: '0.30'

- name: insured_depository_institution_status_required kind: derived entity: Business dtype: Judgment period: Year source: 12 USC 1842(e) metadata: proof: atoms: - path: versions[0].formula kind: predicate source: corpus_citation_path: us/statute/12/1842 versions: - effective_from: '0001-01-01' formula: |- business_is_bank_holding_company or business_is_bank_subsidiary_of_bank_holding_company

- name: mutual_bank_holding_company_reorganization_authorized kind: derived entity: Business dtype: Judgment period: Year source: 12 USC 1842(g) metadata: proof: atoms: - path: versions[0].formula kind: predicate source: corpus_citation_path: us/statute/12/1842 versions: - effective_from: '0001-01-01' formula: |- business_is_savings_bank_or_cooperative_bank and business_operates_in_mutual_form and reorganization_forms_holding_company