A national banking association may not convert to a State bank or State savings association during any period in which the national banking association is subject to a cease and desist order (or other formal enforcement order) issued by, or a memorandum of understanding entered into with, the Comptroller of the Currency with respect to a significant supervisory matter.
(Aug. 17, 1950, ch. 729, §10, as added Pub. L. 111–203, title VI, §612(a), July 21, 2010, 124 Stat. 1612.)
Sections: Previous 210 211 212 214 214a 214b 214c 214d 215 215a 215a-1 215a-2 215a-3 215b 215c Next
Last modified: October 26, 2015