12 U.S.C. § 214d

U.S.C. Title 12 - BANKS AND BANKING
12 U.S.C.

United States Code, 2024 Edition

Title 12 - BANKS AND BANKING

CHAPTER 2 - NATIONAL BANKS

SUBCHAPTER XV - CONVERSION OF NATIONAL BANKS INTO STATE BANKS

Sec. 214d - Prohibition on conversion

From the U.S. Government Publishing Office, www.gpo.gov

§214d. Prohibition on conversion

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.)

Statutory Notes and Related Subsidiaries

Effective Date
Section effective 1 day after July 21, 2010, except as otherwise provided, see section 4 of Pub. L. 111–203, set out as a note under section 5301 of this title.

Official source