---
kind: "section"
citation: "12 C.F.R. § 212.6"
title: "12"
number: "212.6"
heading: "General exemption."
url: "https://uscodex.org/cfr/12/212.6"
---

# §212.6. General exemption.

- (a) **Exemption.** The Board may, by agency order, exempt an interlock from the prohibitions in [§ 212.3](/cfr/12/212.3.md), if the Board finds that the interlock would not result in a monopoly or substantial lessening of competition, and would not present safety and soundness concerns.
- (b) **Presumptions.** In reviewing an application for an exemption under this section, the Board will apply a rebuttable presumption that an interlock will not result in a monopoly or substantial lessening of competition if the depository organization seeking to add a management official:
  - (1) Primarily serves low- and moderate-income areas;
  - (2) Is controlled or managed by persons who are members of a minority group, or women;
  - (3) Is a depository institution that has been chartered for less than two years; or
  - (4) Is deemed to be in “troubled condition” as defined in [12 CFR 225.71](/cfr/12/225.71.md).
- (c) **Duration.** Unless a shorter expiration period is provided in the Board approval, an exemption permitted by [paragraph (a)](#a) of this section may continue so long as it does not result in a monopoly or substantial lessening of competition, or is unsafe or unsound. If the Board grants an interlock exemption in reliance upon a presumption under [paragraph (b)](#b) of this section, the interlock may continue for three years, unless otherwise provided by the Board in writing.

## Notes

### Amendments

[64 FR 51679, Sept. 24, 1999]

### Authority

Authority: 12 U.S.C. 3201-3208; 15 U.S.C. 19.

### Source

Source: 61 FR 40302, Aug. 2, 1996, unless otherwise noted.

### Amendments

[64 FR 51679, Sept. 24, 1999]