C.F.R. » Title 12 » CHAPTER I—COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY › PART 5—RULES, POLICIES, AND PROCEDURES FOR CORPORATE ACTIVITIES › Subpart D—Other Changes in Activities and Operations

12 C.F.R. § 5.42

Corporate title of a national bank or Federal savings association

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(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 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 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 must amend its charter in accordance with § 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 do not apply to a national bank or Federal savings association's change of corporate title. However, if the OCC concludes that the 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 apply.

[80 FR 28453, May 18, 2015, as amended at 85 FR 80462, Dec. 11, 2020]
Notes of Decisions
Cited in 2 cases, 1981–1981 · leading case: First Nat'l Bank v. Nat'l Bank, 667 F.2d 708 (8th Cir. 1981).
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First Nat'l Bank v. Nat'l Bank, 667 F.2d 708 (8th Cir. 1981). “12 C.F.R. § 5.42 (b) (1981). The Record The record shows that the reason for the business decision to change the name of the bank was to more closely identify the bank with its parent bank and the other ninety member banks of the First Bank System.”
Pioneer First Fed. Sav. & Loan Ass'n v. Pioneer Nat'l Bank, 637 P.2d 661 (Wash. Ct. App. 1981). “12 C.F.R § 5.42(b) (1981). Plaintiff points out this regulation was not in effect at the time defendant's name was approved.”
— 12 C.F.R. § 5.42(b) — 1 case
Pioneer First Fed. Sav. & Loan Ass'n v. Pioneer Nat'l Bank, 637 P.2d 661 (Wash. Ct. App. 1981). “12 C.F.R § 5.42(b) (1981). Plaintiff points out this regulation was not in effect at the time defendant's name was approved.”
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