---
kind: "section"
citation: "12 C.F.R. § 711.6"
title: "12"
number: "711.6"
heading: "General exemption."
url: "https://uscodex.org/cfr/12/711.6"
---

# §711.6. General exemption.

- (a) **Exemption.** NCUA may, by agency order issued following receipt of an application, exempt an interlock from the prohibitions in [§ 711.3](/cfr/12/711.3.md), if NCUA finds that the interlock would not result in a monopoly or substantial lessening of competition, and would not present other safety and soundness concerns.
- (b) **Presumptions.** In reviewing applications for an exemption under this section, NCUA will apply a rebuttable presumption that an interlock will not result in a monopoly or substantial lessening of competition if the depository organization seeking to add a management official:
  - (1) Primarily serves, low- and moderate-income areas;
  - (2) Is controlled or managed by persons who are members of a minority group or women;
  - (3) Is a depository institution that has been chartered for less than two years; or
  - (4) Is deemed to be in “troubled condition” as defined in [§ 701.14(b)(3)](/cfr/12/701.14.md?p=b-3) of this chapter.
- (c) **Duration.** Unless a shorter expiration period is provided in the NCUA approval, an exemption permitted by [paragraph (a)](#a) of this section may continue so long as it would not result in a monopoly or substantial lessening of competition, or be unsafe or unsound. If the NCUA grants an interlock exemption in reliance upon a presumption under [paragraph (b)](#b) of this section, the interlock may continue for three years, unless otherwise provided in the approval.

## Notes

### Amendments

[64 FR 66360, Nov. 26, 1999]

### Authority

Authority: 12 U.S.C. 1757 and 3201-3208.

### Source

Source: 61 FR 50702, Sept. 27, 1996, unless otherwise noted.

### Amendments

[64 FR 66360, Nov. 26, 1999]