---
kind: "section"
citation: "12 C.F.R. § 101.4"
title: "12"
number: "101.4"
heading: "Treatment of covered savings associations."
url: "https://uscodex.org/cfr/12/101.4"
---

# §101.4. Treatment of covered savings associations.

- (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.
  - (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:
    - (i) Governance (including incorporation, bylaws, boards of directors, shareholders, members, and distribution of dividends);
    - (ii) Consolidation, merger, dissolution, conversion (including conversion to a stock bank or to another charter), conservatorship, and receivership;
    - (iii) Provisions of law applicable only to Federal mutual savings associations;
    - (iv) Offers and sales of securities at an office of a Federal savings association;
    - (v) Savings bank activities authorized by [section 5(i)(4)](/cfr/12/5.md?p=i-4) of HOLA;
    - (vi) Issuance of subordinated debt securities and mandatorily redeemable preferred stock;
    - (vii) Increases in permanent capital of a Federal stock savings association;
    - (viii) Rules of practice and procedure in adjudicatory proceedings;
    - (ix) Rules for investigative proceedings and formal examination proceedings;
    - (x) Removals, suspensions, and prohibitions where a crime is charged or proven;
    - (xi) Security procedures;
    - (xii) Maintenance of records and recordkeeping and confirmation requirements for securities transactions;
    - (xiii) Accounting and disclosure standards;
    - (xiv) Nondiscrimination; and
    - (xv) **Advertising.**
- (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.
- (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.

## 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.