---
kind: "section"
citation: "12 C.F.R. § 101.2"
title: "12"
number: "101.2"
heading: "Definitions and computation of time."
url: "https://uscodex.org/cfr/12/101.2"
---

# §101.2. Definitions and computation of time.

- (a) **Definitions.** As used in this part:
  - (1) Covered savings association means a Federal savings association that has made an election that is in effect in accordance with [§ 101.3(b)](/cfr/12/101.3.md?p=b).
  - (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)](/cfr/12/101.3.md?p=b).
  - (3) **Nonconforming subsidiary, asset, or activity.**
    - (i) **With respect to a covered savings association—**
      - (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
      - (B) Includes an investment in a subsidiary or other entity that is not permissible for a covered savings association; and
    - (ii) With respect to a Federal savings association that has terminated an election to operate as a covered savings association:
      - (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
      - (B) Includes an investment in a subsidiary or other entity that is not permissible for a Federal savings association.
  - (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.
- (b) **Computation of time.** The OCC will compute a period of days for purposes of this part in accordance with [12 CFR 5.12](/cfr/12/5.12.md).

## 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.