---
kind: "section"
citation: "12 C.F.R. § 101.7"
title: "12"
number: "101.7"
heading: "Reelection."
url: "https://uscodex.org/cfr/12/101.7"
---

# §101.7. Reelection.

- (a) **Reelection.** A Federal savings association that has terminated its election to operate as a covered savings association may submit a notice to reelect to operate as a covered savings association, if at least five years have elapsed since the effective date of the termination. Upon determining that good cause exists, the OCC may permit a Federal savings association to reelect to operate as a covered savings association prior to the expiration of the five-year period.
- (b) **Procedures and treatment.** A Federal savings association reelecting to operate as a covered savings association shall comply with, and shall be subject to, the provisions of this part as if it were making an election for the first time.

## 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.