(a) In general. In order for a savings and loan holding company to engage in financial holding company activities:
(1) The savings and loan holding company and all depository institutions controlled by the savings and loan holding company must be and remain well capitalized;
(2) The savings and loan holding company and all depository institutions controlled by the savings and loan company must be and remain well managed; and
(3) The savings and loan holding company must have made an effective election to be treated as a financial holding company.
authority: 5 U.S.C. 552,
559;
12 U.S.C. 1462,
1462a,
1463,
1464,
1467,
1467a,
1468,
5365; 1813, 1817, 1829e, 1831i, 1972,
15 U.S.C. 78
source: Reg. LL, 76 FR 56532, Sept. 13, 2011, unless otherwise noted.
cite as: 12 CFR 238.63