---
kind: "section"
citation: "12 C.F.R. § 366.3"
title: "12"
number: "366.3"
heading: "Who cannot perform contractual services for the FDIC?"
url: "https://uscodex.org/cfr/12/366.3"
---

# §366.3. Who cannot perform contractual services for the FDIC?


We will not enter into a contract with you to perform a service or function on our behalf, if you or any person that owns or controls you, or any entity you own or control:

- (a) Has a felony conviction;
- (b) Was removed from or is prohibited from participating in the affairs of an insured depository institution as a result of a federal banking agency final enforcement action;
- (c) Has a pattern or practice of defalcation; or
- (d) Is responsible for a substantial loss to the Deposit Insurance Fund (or any predecessor deposit insurance fund).

## Notes

### Amendments

[67 FR 69991, Nov. 20, 2002, as amended at 71 FR 20527, Apr. 21, 2006]

### Authority

Authority: Section 9 (Tenth) of the Federal Deposit Insurance Act (FDI Act), 12 U.S.C. 1819 (Tenth); sections 12(f)(3) and (4) of the FDI Act, 12 U.S.C. 1822(f)(3) and (4); and section 19 of Pub. L. 103-204, 107 Stat. 2369.

### Source

Source: 67 FR 69991, Nov. 20, 2002, unless otherwise noted.

### Amendments

[67 FR 69991, Nov. 20, 2002, as amended at 71 FR 20527, Apr. 21, 2006]