{"data":{"id":"us/12-cfr-101.4","jurisdiction":"us","citation":"12 CFR 101.4","heading":"Treatment of covered savings associations.","body":"(a) In general—(1) National bank activities. Except as provided in this section, a covered savings association may engage in any activity that is permissible for a similarly located national bank to engage in as part of, or incidental to, the business of banking, or explicitly authorized by statute for a national bank, subject to the same authorization, terms, and conditions that would apply to a similarly located national bank, as determined by the OCC for purposes of this part.\n(2) Treatment as a Federal savings association. A covered savings association shall continue to comply with the provisions of law that apply to Federal savings associations for purposes of:\n(i) Governance (including incorporation, bylaws, boards of directors, shareholders, members, and distribution of dividends);\n(ii) Consolidation, merger, dissolution, conversion (including conversion to a stock bank or to another charter), conservatorship, and receivership;\n(iii) Provisions of law applicable only to Federal mutual savings associations;\n(iv) Offers and sales of securities at an office of a Federal savings association;\n(v) Savings bank activities authorized by section 5(i)(4) of HOLA;\n(vi) Issuance of subordinated debt securities and mandatorily redeemable preferred stock;\n(vii) Increases in permanent capital of a Federal stock savings association;\n(viii) Rules of practice and procedure in adjudicatory proceedings;\n(ix) Rules for investigative proceedings and formal examination proceedings;\n(x) Removals, suspensions, and prohibitions where a crime is charged or proven;\n(xi) Security procedures;\n(xii) Maintenance of records and recordkeeping and confirmation requirements for securities transactions;\n(xiii) Accounting and disclosure standards;\n(xiv) Nondiscrimination; and\n(xv) Advertising.\n(b) Existing branches. A covered savings association may continue to operate any branch or agency that the covered savings association operated on the effective date of the election.\n(c) Assets greater than $20 billion. A covered savings association may continue to operate as a covered savings association if, after the effective date of the election, it has total consolidated assets greater than $20 billion.","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":"670b1be7e342a3b42218f3fb22e5892c37e11bbd72b1a0b9bb76f3904342bfe5","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-101.3","next":"us/12-cfr-101.5"},"notice":"GroundRules: Original legal text. Not legal advice."}