---
kind: "section"
citation: "12 C.F.R. § 26.1"
title: "12"
number: "26.1"
heading: "Authority, purpose, and scope."
url: "https://uscodex.org/cfr/12/26.1"
---

# §26.1. Authority, purpose, and scope.

- (a) **Authority.** This part is issued under the provisions of the Depository Institution Management Interlocks Act (Interlocks Act) ([12 U.S.C. 3201](/usc/12/3201.md) et seq.), as amended, and the OCC's general rulemaking authority for national banks in [12 U.S.C. 93a](/usc/12/93a.md) and Federal savings associations in 12 U.S.C. [1462a](/usc/12/1462a.md) and [5412(b)(2)(B)](/usc/12/5412.md?p=b-2-B).
- (b) **Purpose.** The purpose of the Interlocks Act and this part is to foster competition by generally prohibiting a management official from serving two nonaffiliated depository organizations in situations where the management interlock likely would have an anticompetitive effect.
- (c) **Scope.** This part applies to management officials of national banks, Federal savings associations, and their affiliates.

## Notes

### Amendments

[73 FR 22251, Apr. 24, 2008, as amended at 79 FR 28399, May 16, 2014]

### Authority

Authority: 12 U.S.C. 1, 93a, 1462a, 1463, 1464, 3201-3208, 5412(b)(2)(B).

### Source

Source: 61 FR 40300, Aug. 2, 1996, unless otherwise noted.

### Amendments

[73 FR 22251, Apr. 24, 2008, as amended at 79 FR 28399, May 16, 2014]