§ 214d.
Prohibition on conversion
A national banking association may not convert to a State bank or State savings association during any period in which the national banking association is subject to a cease and desist order (or other formal enforcement order) issued by, or a memorandum of understanding entered into with, the Comptroller of the Currency with respect to a significant supervisory matter.
Source
(Aug. 17, 1950, ch. 729, § 10, as added Pub. L. 111–203, title VI, § 612(a),July 21, 2010
, 124 Stat. 1612.)Notes
Effective Date
Section effective 1 day after
July 21, 2010
, except as otherwise provided, see section 4 of Pub. L. 111–203, set out as a note under section 5301 of this title.