{"data":{"id":"us/12-cfr-239.31","jurisdiction":"us","citation":"12 CFR 239.31","heading":"Indemnification; employment contracts.","body":"(a) Restrictions on indemnification. The provisions of § 239.40 shall apply to subsidiary holding companies.\n(b) Restrictions on employment contracts. The provisions of § 239.41 and any policies of the Board thereunder shall apply to subsidiary holding companies.","path":["Title 12—Banks and Banking","CHAPTER II—FEDERAL RESERVE SYSTEM","SUBCHAPTER A—BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM","PART 239—MUTUAL HOLDING COMPANIES (REGULATION MM)","Subpart C—Subsidiary Holding Companies"],"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":"50f2e7fdcfb71db7bb4514073ca7b7fc6c46973620296f4954518acbf77b4315","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-239.30","next":"us/12-cfr-239.40"},"notice":"GroundRules: Original legal text. Not legal advice."}