C.F.R. » Title 12 » CHAPTER III—FEDERAL DEPOSIT INSURANCE CORPORATION › SUBCHAPTER A—PROCEDURE AND RULES OF PRACTICE › PART 303—FILING PROCEDURES › Subpart E—Change in Bank Control

12 C.F.R. § 303.86

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(a) Acceptance of notice, additional information. The FDIC shall notify the person or persons submitting a notice under this subpart in writing of the date the notice is accepted as substantially complete. The FDIC may request additional information at any time.

(b) Commencement of the 60-day notice period: consummation of acquisition. (1) The 60-day notice period specified in § 303.82 shall commence on the day after the date of acceptance of a substantially complete notice by the appropriate regional director. The notificant(s) may consummate the proposed acquisition after the expiration of the 60-day notice period, unless the FDIC disapproves the proposed acquisition or extends the notice period as provided in the CBCA.

(2) The notificant(s) may consummate the proposed transaction before the expiration of the 60-day period, including any extensions, if the FDIC notifies the notificant(s) in writing of its intention not to disapprove the acquisition.

(c) Disapproval of acquisition of control. Subpart D of 12 CFR part 308 sets forth the rules of practice and procedure for a notice of disapproval.

Notes of Decisions
Cited in 3 cases (1 in the last 5 years), 2020–2022 · leading case: Hurry v. Fed. Deposit Ins. Corp. (D.D.C. 2020).
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Hurry v. Fed. Deposit Ins. Corp. (D.D.C. 2020). · cites it 4× “¶¶ 41–51) (alleging that, upon receiving a notice, a banking agency has only a limited time to either disapprove or approve the proposed transaction); compare 12 C.F.R. § 303.86 (a)–(b) (providing that the 60-day notice period does not commence until the FDIC has accepted a…”
Hurry v. Fed. Deposit Ins. Corp. (D.D.C. 2020). · cites it 4× “¶¶ 41–51) (alleging that, upon receiving a notice, a banking agency has only a limited time to either disapprove or approve the proposed transaction); compare 12 C.F.R. § 303.86 (a)–(b) (providing that the 60-day notice period does not commence until the FDIC has accepted a…”
Hurry v. Fed. Deposit Ins. Corp. (D.D.C. 2022). · cites it 3× “” 12 C.F.R. § 303.86 (b)(1) (emphasis added).”
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