12 CFR 159.10 - How must separate corporate identities be maintained?

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There is 1 rule appearing in the Federal Register for 12 CFR 159. View below or at eCFR (GPOAccess)
§ 159.10 How must separate corporate identities be maintained?
(a) Each Federal savings association and subordinate organization thereof must be operated in a manner that demonstrates to the public that each maintains a separate corporate existence. Each must operate so that:
(1) Their respective business transactions, accounts, and records are not intermingled;
(2) Each observes the formalities of their separate corporate procedures;
(3) Each is adequately financed as a separate unit in light of normal obligations reasonably foreseeable in a business of its size and character;
(4) Each is held out to the public as a separate enterprise; and
(5) Unless the parent savings association has guaranteed a loan to the subordinate organization, all borrowings by the subordinate organization indicate that the parent is not liable.
(b) OCC regulations that apply both to Federal savings associations and subordinate organizations shall not be construed as requiring a savings association and its subordinate organizations to operate as a single entity.

Title 12 published on 2014-01-01

The following are only the Rules published in the Federal Register after the published date of Title 12.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2014-02-28; vol. 79 # 40 - Friday, February 28, 2014
    1. 79 FR 11300 - Basel III Conforming Amendments Related to Cross-References, Subordinated Debt and Limits Based on Regulatory Capital
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Comptroller of the Currency
      Interim final rule and request for comments.
      This interim final rule is effective March 31, 2014. Comments must be received by March 31, 2014.
      12 CFR Parts 1, 4, 5, 16, 23, 24, 28, 32, 34, 46, 116, 143, 145, 159, 160, 161, 163 and 192

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United States Code

Title 12 published on 2014-01-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR 159 after this date.

  • 2014-06-10; vol. 79 # 111 - Tuesday, June 10, 2014
    1. 79 FR 33260 - Integration of National Bank and Federal Savings Association Regulations: Licensing Rules
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Office of the Comptroller of the Currency
      Notice of proposed rulemaking.
      Comments must be received on or before August 11, 2014.
      12 CFR Parts 4, 5, 7, 14, 32, 34, 100, 116, 143, 144, 145, 146, 150, 152, 159, 160, 161, 162, 163, 174, 192, 193