{"data":{"id":"us/12-cfr-101.2","jurisdiction":"us","citation":"12 CFR 101.2","heading":"Definitions and computation of time.","body":"(a) Definitions. As used in this part:\n(1) Covered savings association means a Federal savings association that has made an election that is in effect in accordance with § 101.3(b).\n(2) Effective date of the election means, with respect to a Federal savings association, the date on which the Federal savings association's election to operate as a covered savings association takes effect pursuant to § 101.3(b).\n(3) Nonconforming subsidiary, asset, or activity. (i) With respect to a covered savings association:\n(A) Means any subsidiary, asset, or activity that is not permissible for a covered savings association or, if permissible, is being operated, held, or conducted in a manner that exceeds the limit applicable to a covered savings association; and\n(B) Includes an investment in a subsidiary or other entity that is not permissible for a covered savings association; and\n(ii) With respect to a Federal savings association that has terminated an election to operate as a covered savings association:\n(A) Means any subsidiary, asset, or activity that is not permissible for a Federal savings association or, if permissible, is being operated, held, or conducted in a manner that exceeds the limit applicable to a Federal savings association; and\n(B) Includes an investment in a subsidiary or other entity that is not permissible for a Federal savings association.\n(4) Similarly located national bank means, with respect to a covered savings association, a national bank that has its main office situated in the same location as the home office of the covered savings association.\n(b) Computation of time. The OCC will compute a period of days for purposes of this part in accordance with 12 CFR 5.12.","path":["Title 12—Banks and Banking","CHAPTER I—COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY","PART 101—COVERED SAVINGS ASSOCIATIONS"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-12.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:16Z","sha256":"0409db633744e9f82ca2bbd30fea3a8e70e625db55642f585d385b7da1a47965","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-101.1","next":"us/12-cfr-101.3"},"notice":"GroundRules: Original legal text. Not legal advice."}