---
kind: "section"
citation: "12 C.F.R. § 238.83"
title: "12"
number: "238.83"
heading: "Prohibited actions."
url: "https://uscodex.org/cfr/12/238.83"
---

# §238.83. Prohibited actions.

- (a) **Person.** If a person was convicted of a criminal offense described in [§ 238.84](/cfr/12/238.84.md), or agreed to enter into a pretrial diversion or similar program in connection with a prosecution for such a criminal offense, he or she may not:
  - (1) Become, or continue as, an institution-affiliated party with respect to any savings and loan holding company.
  - (2) **Own or control, directly or indirectly, any savings and loan holding company.** A person will own or control a savings and loan holding company if he or she owns or controls that company under subpart D of this part.
  - (3) Otherwise participate, directly or indirectly, in the conduct of the affairs of any savings and loan holding company.
- (b) **Savings and loan holding company.** A savings and loan holding company may not permit any person described in [paragraph (a)](#a) of this section to engage in any conduct or to continue any relationship prohibited under that paragraph.

## 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.