---
kind: "section"
citation: "12 C.F.R. § 101.6"
title: "12"
number: "101.6"
heading: "Termination."
url: "https://uscodex.org/cfr/12/101.6"
---

# §101.6. Termination.

- (a) **Termination.** A covered savings association may terminate its election to operate as a covered savings association, after an appropriate period of time as determined by the OCC, by submitting a notice to the OCC.
- (b) **Procedures.** A covered savings association wishing to terminate its election shall comply with, and shall be subject to, the provisions of §§ [101.2](/cfr/12/101.2.md), [101.3](/cfr/12/101.3.md), and [101.5](/cfr/12/101.5.md), except that:
  - (1) The provisions of §§ [101.3](/cfr/12/101.3.md) and [101.5](/cfr/12/101.5.md) shall be applied by substituting “covered savings association” for “Federal savings association” and “Federal savings association” for “covered savings association” each place those terms appear in those sections;
  - (2) [Section 101.3(a)(1)](/cfr/12/101.3.md?p=a-1) shall not apply; and
  - (3) Sections [101.3](/cfr/12/101.3.md) and [101.5](/cfr/12/101.5.md) shall be applied by substituting “effective date of the termination” for “effective date of the election.”
- (c) **Applicable law.** On and after the effective date of the termination, a Federal savings association that has terminated its election to operate as a covered savings association shall be subject to the same provisions of law as a Federal savings association that has not made an election under this part.

## 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.