12 CFR 303.251 - Extension of time.

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§ 303.251 Extension of time.

(a)Scope. This section contains the procedures to be followed by an insured depository institution to seek the prior consent of the FDIC for additional time to fulfill a condition required in an approval of a filing issued by the FDIC or to consummate a transaction which was the subject of an approval by the FDIC.

(b)Where to file. Applicants shall submit a letter application to the appropriate FDIC office.

(c)Content of filing. The application shall contain the following information:

(1) A description of the original approved application;

(2) Identification of the original time limitation;

(3) The additional time period requested; and

(4) The reason for the request.

(d)Additional information. The FDIC may request additional information at any time during processing of the filing.

(e)Processing. The FDIC will provide the applicant with written notification of the final action as soon as the decision is rendered.

[ 67 FR 79247, Dec. 27, 2002. Redesignated at 71 FR 20526, Apr. 21, 2006]

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