§ 340.7When is a certification required, and who does not have to provide a certification?
(a) Before any person may purchase any asset from the FDIC that person must certify, under penalty of perjury, that none of the restrictions contained in this part applies to the purchase. The FDIC may establish the form of the certification and may change the form from time to time.
(b) Notwithstanding paragraph (a) of this section, a state or political subdivision of a state, a federal agency or instrumentality such as the Government National Mortgage Association, or a federally-regulated, government-sponsored enterprise such as Fannie Mae or Freddie Mac does not have to give a certification before it can purchase assets from the FDIC, unless theDirector of the FDIC's Division of Resolutions and Receiverships, or his designee, in his discretion, requires a certification of any such entity.
Title 12 published on 2015-01-01.
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