---
kind: "section"
citation: "12 C.F.R. § 101.1"
title: "12"
number: "101.1"
heading: "Authority and purposes."
url: "https://uscodex.org/cfr/12/101.1"
---

# §101.1. Authority and purposes.

- (a) **Authority.** This part is issued pursuant to sections 3, 4, 5, and 5A of the Home Owners' Loan Act (HOLA) (12 U.S.C. [1462a](/usc/12/1462a.md), [1463](/usc/12/1463.md), [1464](/usc/12/1464.md), and [1464a](/usc/12/1464a.md)), section 5239A of the Revised Statutes ([12 U.S.C. 93a](/usc/12/93a.md)), and [section 312(b)(2)(B)](/cfr/12/312.md?p=b-2-B) of the Dodd-Frank Wall Street Reform and Consumer Protection Act ([12 U.S.C. 5412(b)(2)(B)](/usc/12/5412.md?p=b-2-B)).
- (b) **Purposes.** This part establishes standards and procedures for a Federal savings association to elect to operate as a covered savings association pursuant to [section 5A](/cfr/12/5A.md) of the HOLA and clarifies the requirements for the treatment of covered savings associations. It also establishes standards and procedures to terminate an election and to reelect to operate as a covered savings association.

## Notes

### Authority

Authority: 12 U.S.C. 93a, 1462a, 1463, 1464, 1464a, and 5412(b)(2)(B).

### Source

Source: 84 FR 24005, May 24, 2019, unless otherwise noted.