---
kind: "section"
citation: "12 C.F.R. § 238.1"
title: "12"
number: "238.1"
heading: "Authority, purpose and scope."
url: "https://uscodex.org/cfr/12/238.1"
---

# §238.1. Authority, purpose and scope.

- (a) **Authority.** This part is issued by the Board of Governors of the Federal Reserve System (Board) under section 10(g) of the Home Owners' Loan Act (HOLA); section 7(j)(13) of the Federal Deposit Insurance Act, as amended by the Change in Bank Control Act of 1978 ([12 U.S.C. 1817(j)(13)](/usc/12/1817.md?p=j-13)) (Bank Control Act); sections 8(b), 19 and 32 of the Federal Deposit Insurance Act (12 U.S.C. [1818(b)](/usc/12/1818.md?p=b), [1829](/usc/12/1829.md), and [1831i](/usc/12/1831i.md)); and [section 914](/cfr/12/914.md) of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 ([12 U.S.C. 1831i](/usc/12/1831i.md)) and the Depository Institution Management Interlocks Act ([12 U.S.C. 3201](/usc/12/3201.md) et seq.).
- (b) **Purpose.** The principal purposes of this part are to:
  - (1) Regulate the acquisition of control of savings associations by companies and individuals;
  - (2) Define and regulate the activities in which savings and loan holding companies may engage;
  - (3) Set forth the procedures for securing approval for these transactions and activities; and
  - (4) Set forth the procedures under which directors and executive officers may be appointed or employed by savings and loan holding companies in certain circumstances.

## Notes

### Authority

Authority: 5 U.S.C. 552, 559; 12 U.S.C. 1462, 1462a, 1463, 1464, 1467, 1467a, 1468, 5365; 1813, 1817, 1829e, 1831i, 1972, 15 U.S.C. 78 l.

### Source

Source: Reg. LL, 76 FR 56532, Sept. 13, 2011, unless otherwise noted.