---
kind: "section"
citation: "12 C.F.R. § 239.31"
title: "12"
number: "239.31"
heading: "Indemnification; employment contracts."
url: "https://uscodex.org/cfr/12/239.31"
---

# §239.31. Indemnification; employment contracts.

- (a) **Restrictions on indemnification.** The provisions of [§ 239.40](/cfr/12/239.40.md) shall apply to subsidiary holding companies.
- (b) **Restrictions on employment contracts.** The provisions of [§ 239.41](/cfr/12/239.41.md) and any policies of the Board thereunder shall apply to subsidiary holding companies.

## Notes

### Authority

Authority: 12 U.S.C. 1462, 1462a, 1464, 1467a, 1828, and 2901.

### Source

Source: Reg. MM, 76 FR 56357, Sept. 13, 2011, unless otherwise noted.