12 C.F.R. PART 516—APPLICATION PROCESSING PROCEDURES


Title 12 - Banks and Banking


Title 12: Banks and Banking

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PART 516—APPLICATION PROCESSING PROCEDURES

Section Contents
§ 516.1   What does this part do?
§ 516.5   Do the same procedures apply to all applications under this part?
§ 516.10   How does OTS compute time periods under this part?

Subpart A—Pre-Filing and Filing Procedures


Pre-Filing Procedures

§ 516.15   Must I meet with OTS before I file my application?
§ 516.20   What information must I include in my draft business plan?
§ 516.25   What type of application must I file?
§ 516.30   What information must I provide with my application?
§ 516.35   May I keep portions of my application confidential?
§ 516.40   Where do I file my application?
§ 516.45   What is the filing date of my application?
§ 516.47   How do I amend or supplement my application?

Subpart B—Publication Requirements

§ 516.50   Who must publish a public notice of an application?
§ 516.55   What information must I include in my public notice?
§ 516.60   When must I publish the public notice?
§ 516.70   Where must I publish the public notice?
§ 516.80   What language must I use in my publication?

Subpart C—Comment Procedures

§ 516.100   What does this subpart do?
§ 516.110   Who may submit a written comment?
§ 516.120   What information should a comment include?
§ 516.130   Where are comments filed?
§ 516.140   How long is the comment period?

Subpart D—Meeting Procedures

§ 516.160   What does this subpart do?
§ 516.170   When will OTS conduct a meeting on an application?
§ 516.180   What procedures govern the conduct of the meeting?
§ 516.185   Will OTS approve or disapprove an application at a meeting?
§ 516.190   Will a meeting affect application processing time frames?

Subpart E—OTS Review


Expedited Treatment

§ 516.200   If I file a notice under expedited treatment, when may I engage in the proposed activities?

Standard Treatment

§ 516.210   What will OTS do after I file my application?
§ 516.220   If OTS requests additional information to complete my application, how will it process my application?
§ 516.230   Will OTS conduct an eligibility examination?
§ 516.240   What may OTS require me to do after my application is deemed complete?
§ 516.250   Will OTS require me to publish a new public notice?
§ 516.260   May OTS suspend processing of my application?
§ 516.270   How long is the OTS review period?
§ 516.280   How will I know if my application has been approved?
§ 516.290   What will happen if OTS does not approve or disapprove my application within two calendar years after the filing date?


Authority:  5 U.S.C. 552, 559; 12 U.S.C. 1462a, 1463, 1464, 2901 et seq.

Source:  57 FR 14336, Apr. 20, 1992, unless otherwise noted.

§ 516.1   What does this part do?
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(a) This part explains OTS procedures for processing applications, notices, or filings (applications). Except as provided in paragraph (b) of this section, subparts A and E of this part apply whenever an OTS regulation requires any person (you) to file an application with OTS. Subparts B, C, and D, however, only apply when an OTS regulation incorporates the procedures in the subpart or where otherwise required by OTS.

(b) This part does not apply to any of the following:

(1) An application related to a transaction under section 13(c) or (k) of the Federal Deposit Insurance Act, 12 U.S.C. 1823(c) or (k).

(2) A request for reconsideration, modification, or appeal of a final OTS action.

(3) A request related to litigation, an enforcement proceeding, a supervisory directive or supervisory agreement. Such requests include a request seeking approval under, modification of, or termination of an order issued under part 508 or 509 of this chapter, a supervisory agreement, a supervisory directive, a consent merger agreement or a document negotiated in settlement of an enforcement matter or other litigation, unless an applicable OTS regulation specifically requires an application under this part.

(4) An application filed under an OTS regulation that prescribes other application processing procedures and time frames for the approval of applications.

(c) If an OTS regulation for a specific type of application prescribes some application processing procedures, or time frames, OTS will apply this part to the extent necessary to process the application. For example, if an OTS regulation for a specific type of application does not identify time periods for the processing of an application, the time periods in this part apply.

[66 FR 13000, Mar. 2, 2001]

§ 516.5   Do the same procedures apply to all applications under this part?
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OTS processes applications under this part using two procedures, expedited treatment and standard treatment. To determine which treatment applies, you may use the following chart:

----------------------------------------------------------------------------------------------------------------                         If * * *                           Then OTS will process your  application under * * *----------------------------------------------------------------------------------------------------------------(a) The applicable regulation does not specifically state  Standard treatment. that expedited treatment is available.(b) You are not a savings association....................  Standard treatment.(c) Your composite rating is 3, 4, or 5. The composite     Standard treatment. rating is the composite numeric rating that OTS or the other federal banking regulator assigned to you under the Uniform Financial Institutions Rating System \1\ or under a comparable rating system. The composite rating refers to the rating assigned and provided to you, in writing, as a result of the most recent examination.(d) Your Community Reinvestment Act (CRA) rating is Needs  Standard treatment. to Improve or Substantial Noncompliance. The CRA rating is the Community Reinvestment Act performance rating that OTS or the other federal banking regulator assigned and provided to you, in writing, as a result of the most recent compliance examination. See, for example, § 563e.28 of this chapter.(e) Your compliance rating is 3, 4, or 5. The compliance   Standard treatment. rating is the numeric rating that OTS or the other federal banking regulator assigned to you under OTS compliance rating system, or a comparable rating system used by the other federal banking regulator. The compliance rating refers to the rating assigned and provided to you, in writing, as a result of the most recent compliance examination.(f) You fail any one of your capital requirements under    Standard treatment. part 567 of this chapter.(g) OTS has notified you that you are an association in    Standard treatment. troubled condition.(h) Neither OTS nor any other federal banking regulator    Standard treatment. has assigned you a composite rating, a CRA rating or a compliance rating.(i) You do not meet any of the criteria listed in          Expedited treatment. paragraphs (a) through (h) of this section.----------------------------------------------------------------------------------------------------------------\1\ A savings association may obtain a copy of its composite rating from the appropriate Regional Office.

[66 FR 13000, Mar. 2, 2001]

§ 516.10   How does OTS compute time periods under this part?
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In computing time periods under this part, OTS does not include the day of the act or event that commences the time period. When the last day of a time period is a Saturday, Sunday, or Federal holiday, the time period runs until the end of the next day that is not a Saturday, Sunday, or Federal holiday.

[66 FR 13000, Mar. 2, 2001]

Subpart A—Pre-Filing and Filing Procedures
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Source:  66 FR 13000, Mar. 2, 2001, unless otherwise noted.

Pre-Filing Procedures
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§ 516.15   Must I meet with OTS before I file my application?
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(a) Chart. To determine whether you must attend a pre-filing meeting before you file an application, please consult the following chart:

------------------------------------------------------------------------           If you file * * *                        Then * * *------------------------------------------------------------------------(1) An application for permission to     You must meet with OTS before organize a de novo federal savings       filing your application. You association.                             must submit a draft business                                          plan before this meeting.(2) An application to convert an         You must meet with OTS before existing insured depository              filing your application. OTS institution (other than a state-         may require you to submit a chartered savings association or a       draft business plan or other state-chartered savings bank) or a       relevant information before credit union to a federal savings        this meeting. association.(3) An application to acquire control    OTS may require you to meet of a savings association.                with OTS before filing your                                          application and may require                                          you to submit a draft business                                          plan or other relevant                                          information before this                                          meeting.------------------------------------------------------------------------

(b) Contacting the Regional Office. (1) You must contact the appropriate Regional Office a reasonable time before you file an application described in paragraph (a) of this section. Unless paragraph (a) already requires a pre-filing meeting or a draft business plan, the Regional Office will determine whether it will require a pre-filing meeting, and whether you must submit a business plan or other relevant information before the meeting. The Regional Office will also establish a schedule for any meeting and the submission of any information.

(2) All other applicants are encouraged to contact the appropriate Regional Office to determine whether a pre-filing meeting or the submission of a draft business plan or other relevant information would expedite the application review process.

§ 516.20   What information must I include in my draft business plan?
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If you must submit a draft business plan under §516.15, your plan must:

(a) Clearly and completely describe the savings association's projected operations and activities;

(b) Describe the risks associated with the transaction and the impact of this transaction on any existing activities and operations of the savings association, including financial projections for a minimum of three years;

(c) Identify the majority of the proposed board of directors and the key senior executive officers (as defined in §563.555 of this chapter) of the savings association and demonstrate that these individuals have the expertise to prudently manage the activities and operations described in the savings association's draft business plan; and

(d) Demonstrate how applicable requirements regarding serving the credit and lending needs in the market areas served by the savings association will be met.

Filing Procedures

§ 516.25   What type of application must I file?
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(a) Expedited treatment. If you are eligible for expedited treatment under §516.5, you may file your application in the form of a notice that includes all information required by the applicable substantive regulation. If OTS has designated a form for your notice, you must file that form. Your notice is an application for the purposes of all statutory and regulatory references to “applications.”

(b) Standard treatment. If you are subject to standard treatment under §516.5, you must file your application following all applicable substantive regulations and guidelines governing the filing of applications. If OTS has a designated form for your application, you must file that form.

(c) Waiver requests. If you want OTS to waive a requirement that you provide certain information with the notice or application, you must include a written waiver request:

(1) Describing the requirement to be waived and

(2) Explaining why the information is not needed to enable OTS to evaluate your notice or application under applicable standards.

§ 516.30   What information must I provide with my application?
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(a) Required information. You may obtain information about required certifications, other regulations and guidelines affecting particular notices and applications, appropriate forms, and instructions from any OTS Regional Office. You may also obtain forms and instructions on OTS's web page at www.ots.treas.gov.

(b) Captions and exhibits. You must caption the original application and required copies with the type of filing, and must include all exhibits and other pertinent documents with the original application and all required copies. You are not required to include original signatures on copies if you include a copy of the signed signature page or the copy otherwise indicates that the original was signed.

§ 516.35   May I keep portions of my application confidential?
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(a) Confidentiality. OTS makes submissions under this part available to the public, but may keep portions of your application confidential based on the rules in this section.

(b) Confidentiality request. (1) You may request OTS to keep portions of your application confidential. You must submit your request in writing with your application and must explain in detail how your request is consistent with the standards under the Freedom of Information Act (5 U.S.C. 552) and part 505 of this chapter. For example, you should explain how you will be substantially harmed by pubic disclosure of the information. You must separately bind and mark the portions of the application you consider confidential and the portions you consider non-confidential.

(2) OTS will not treat as confidential the portion of your application describing how you plan to meet your Community Reinvestment Act (CRA) objectives. OTS will make information in your CRA plan, including any information incorporated by reference from other parts of your application, available to the public upon request.

(c) OTS determination on confidentiality. OTS will determine whether information that you designate as confidential may be withheld from the public under the Freedom of Information Act (5 U.S.C. 552) and part 505 of this chapter. OTS will advise you before it makes information you designate as confidential available to the public.

§ 516.40   Where do I file my application?
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(a) Regional Office. (1) You must file the original application and the number of copies indicated on the applicable form with the applications filing division of the appropriate OTS Regional Office. You should address the filings to “Attn: Applications Filing Room” at the Regional address listed in paragraph (a)(2) of this section. If the form does not indicate the number of copies you must file or if OTS has not prescribed a form for your application, you must file the original application and two copies.

(2) The addresses of each Regional Office and the states covered by each office are:

----------------------------------------------------------------------------------------------------------------                    Region                              Office address                    States served----------------------------------------------------------------------------------------------------------------Northeast....................................  Office of Thrift Supervision,     Connecticut, Delaware, Maine,                                                Harborside Financial Center       Massachusetts, New Hampshire,                                                Plaza Five, Suite 1600, Jersey    New Jersey, New York, Ohio,                                                City, New Jersey 07311.           Pennsylvania, Rhode Island,                                                                                  Vermont, West VirginiaSoutheast....................................  Office of Thrift Supervision,     Alabama, District of Columbia,                                                1475 Peachtree Street, N.E.,      Florida, Georgia, Illinois,                                                Atlanta, Georgia 30309 (Mail      Indiana, Kentucky, Maryland,                                                to: P.O. Box 105217, Atlanta,     Michigan, North Carolina,                                                Georgia 30348-5217).              Puerto Rico, South Carolina,                                                                                  Virginia, the Virgin Islands.Midwest......................................  Office of Thrift Supervision,     Arkansas, Iowa, Kansas,                                                225 E. John Carpenter Freeway,    Louisiana, Mississippi,                                                Suite 500, Irving, Texas 75062-   Missouri, Nebraska, Oklahoma,                                                2326 (Mail to: P.O. Box 619027,   Tennessee, Texas, Wisconsin.                                                Dallas/Ft. Worth, Texas 75261-                                                9027).West.........................................  Office of Thrift Supervision,     Alaska, Arizona, California,                                                Pacific Plaza, 2001 Junipero      Colorado, Guam, Hawaii, Idaho,                                                Serra Boulevard, Suite 650,       Montana, Nevada, New Mexico,                                                Daly City, California 94014-      North Dakota, Northern Mariana                                                1976 (Mail to: P.O. Box 7165,     Islands, Oregon, South Dakota,                                                San Francisco, California 94120-  Utah, Washington, Wyoming.                                                7165).----------------------------------------------------------------------------------------------------------------

(b) Additional filings with OTS Headquarters. (1) In addition to filing in the Regional Office, if your application involves a significant issue of law or policy or if an applicable regulation or form directs you to file with OTS Headquarters, you must also file copies of your application with the Applications Filing Room at OTS headquarters, 1700 G Street, NW., Washington, DC 20552. You must file the number of copies indicated on the applicable form. If the form does not indicate the number of copies you must file or if OTS has not prescribed a form for your application, you must file three copies.

(2)(i) You may obtain a list of applications involving significant issues of law or policy at the OTS website at www.ots.treas.gov or by contacting a Regional Office.

(ii) OTS reserves the right to identify significant issues of law or policy in a particular application. OTS will advise you, in writing, if it makes this determination.

[66 FR 13000, Mar. 2, 2001, as amended at 66 FR 65820, Dec. 21, 2001; 67 FR 78152, Dec. 23, 2002; 69 FR 76602, Dec. 22, 2004]

§ 516.45   What is the filing date of my application?
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(a) Your application's filing date is the date that you complete all of the following requirements.

(1) You attend a pre-filing meeting and submit a draft business plan or relevant information, if OTS requires you to do so under §516.15.

(2) You file your application and all required copies with OTS, as described under §516.40.

(i) If you are required to file with a Regional Office and with OTS Headquarters, you have not filed with OTS until you file with both offices.

(ii) You have not filed with a Regional Office or OTS Headquarters until you file the application and the required number of copies with that office.

(iii) If you file after the close of business established by a Regional Office or OTS Headquarters, you have filed with that office on the next business day.

(3) You pay the applicable fee. You have not paid the fee until you submit the fee to the appropriate Regional Office, or OTS waives the fee. You may pay by check, money order, cashier's check or wire transfer payable to OTS.

(b) OTS may notify you that it has adjusted your application filing date if you fail to meet any applicable publication requirements.

(c) If, after you properly file your application with the Regional Office, OTS determines that a significant issue of law or policy exists under §516.40(b)(2)(ii), the filing date of your application is the day you filed with the Regional Office. The 30-day review period under §§516.200 or 516.210 of this part will restart in its entirety when the Regional Office forwards the appropriate number of copies of your application to OTS Headquarters.

§ 516.47   How do I amend or supplement my application?
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To amend or supplement your application, you must file the amendment or supplemental information at the appropriate OTS office(s) along with the number of copies required under §516.40. Your amendment or supplemental information also must meet the caption and exhibit requirements at §516.30(b).

Subpart B—Publication Requirements
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Source:  62 FR 64143, Dec. 4, 1997, unless otherwise noted.

§ 516.50   Who must publish a public notice of an application?
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This subpart applies whenever an OTS regulation requires an applicant (“you”) to follow the public notice procedures in this subpart.

§ 516.55   What information must I include in my public notice?
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Your public notice must include the following:

(a) Your name and address.

(b) The type of application.

(c) The name of the depository institution(s) that is the subject matter of the application.

(d) A statement indicating that the public may submit comments to the appropriate OTS office(s).

(e) The address of the appropriate OTS offices where the public may submit comments.

(f) The date that the comment period closes.

(g) A statement indicating that the nonconfidential portions of the application are on file in the Regional Office, and are available for public inspection during regular business hours.

(h) Any other information that OTS requires you to publish. You may find the format for various publication notices in the appendix to OTS application processing handbook.

[66 FR 13002, Mar. 2, 2001]

§ 516.60   When must I publish the public notice?
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You must publish a public notice of the application no earlier than seven days before and no later than the date of filing of the application.

§ 516.70   Where must I publish the public notice?
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You must publish the notice in a newspaper having a general circulation in the communities indicated in the following chart:

 ------------------------------------------------------------------------                                                You must publish in the              If you file . . .                following communities . .                                                           .------------------------------------------------------------------------(a) An application for permission to          The community in which organize under § 543.2 of this           your home office is chapter, a Bank Merger Act application        located. under 563.22(a) of this chapter, an application to convert to is a federal charter under § 543.8 or § 552.2- 6 of this chapter, or an application for a mutual to stock conversion under part 563b of this chapter . . .(b) An application to establish a branch      The community to be served office under § 545.95 of this chapter    by the branch office. . . .(c) An application for the change of          The community in which the permanent location of a home or branch        existing office is office under § 545.95 of this chapter    located and the community . . .                                         to be served by the new                                               office.(d) A holding company application or a        The community in which the change of control notice under part 574 of    home office of the this chapter . . .                            savings association whose                                               stock is to be acquired                                               is located and, if                                               applicable, the community                                               in which the home office                                               of the acquiror's largest                                               subsidiary savings                                               association is located.------------------------------------------------------------------------

[69 FR 68246, Nov. 24, 2004]

§ 516.80   What language must I use in my publication?
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(a) English. You must publish the notice in a newspaper printed in the English language.

(b) Other than English. If the OTS determines that the primary language of a significant number of adult residents of the community is a language other than English, the OTS may require that you simultaneously publish additional notice(s) in the community in the appropriate language(s).

Subpart C—Comment Procedures
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Source:  62 FR 64144, Dec. 4, 1997, unless otherwise noted.

§ 516.100   What does this subpart do?
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This subpart contains the procedures governing the submission of public comments on certain types of applications or notices (“applications”) pending before the OTS. It applies whenever a regulation incorporates the procedures in this subpart, or where otherwise required by the OTS.

§ 516.110   Who may submit a written comment?
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Any person may submit a written comment supporting or opposing an application.

[62 FR 64144, Dec. 4, 1997, as amended at 66 FR 13003, Mar. 2, 2001]

§ 516.120   What information should a comment include?
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(a) A comment should recite relevant facts, including any demographic, economic, or financial data, supporting the commenter's position. A comment opposing an application should also:

(1) Address at least one of the reasons why OTS may deny the application under the relevant statute or regulation;

(2) Recite any relevant facts and supporting data addressing these reasons; and;

(3) Address how the approval of the application could harm the commenter or any community.

(b) A commenter must include any request for a meeting under §516.170 in its comment. The commenter must describe the nature of the issues or facts to be discussed and the reasons why written submissions are insufficient to adequately address these facts or issues.

[66 FR 13003, Mar. 2, 2001, as amended at 69 FR 68247, Nov. 24, 2004]

§ 516.130   Where are comments filed?
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A commenter must file with the appropriate OTS Regional Office (See table at §516.40(a)(2)). The commenter must simultaneously send a copy of the comment to the applicant.

[66 FR 13003, Mar. 2, 2001]

§ 516.140   How long is the comment period?
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(a) General. Except as provided in paragraph (b) of this section, a commenter must file a written comment with OTS within 30 calendar days after the date of publication of the initial public notice.

(b) Late-filed comments. OTS may consider late-filed comments if OTS determines that the comment will assist in the disposition of the application.

[69 FR 68247, Nov. 24, 2004]

Subpart D—Meeting Procedures
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Source:  69 FR 68247, Nov. 24, 2004, unless otherwise noted.

§ 516.160   What does this subpart do?
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This subpart contains meeting procedures. It applies whenever a regulation incorporates the procedures in this subpart, or when otherwise required by OTS.

§ 516.170   When will OTS conduct a meeting on an application?
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(a) OTS will grant a meeting request or conduct a meeting on its own initiative, if it finds that written submissions are insufficient to address facts or issues raised in an application, or otherwise determines that a meeting will benefit the decision-making process. OTS may limit the issues considered at the meeting to issues that OTS decides are relevant or material.

(b) OTS will inform the applicant and all commenters requesting a meeting of its decision to grant or deny a meeting request, or of its decision to conduct a meeting on its own initiative.

(c) If OTS decides to conduct a meeting, OTS will invite the applicant and any commenters requesting a meeting and raising an issue that OTS intends to consider at the meeting. OTS may also invite other interested persons to attend. OTS will inform the participants of the date, time, location, issues to be considered, and format for the meeting a reasonable time before the meeting.

§ 516.180   What procedures govern the conduct of the meeting?
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(a) OTS may conduct meetings in any format including, but not limited to, a telephone conference, a face-to-face meeting, or a more formal meeting.

(b) The Administrative Procedure Act (5 U.S.C. 551 et seq.), the Federal Rules of Evidence (28 U.S.C. Appendix), the Federal Rules of Civil Procedure (28 U.S.C. Rule 1 et seq.) and the OTS Rules of Practice and Procedure in Adjudicatory Proceedings (12 CFR part 509) do not apply to meetings under this section.

§ 516.185   Will OTS approve or disapprove an application at a meeting?
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OTS will not approve or deny an application at a meeting under this subpart.

§ 516.190   Will a meeting affect application processing time frames?
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If OTS decides to conduct a meeting, it may suspend applicable application processing time frames, including the time frames for deeming an application complete and the applicable approval time frames in subpart E of this part. If OTS suspends applicable application processing time frames, the time period will resume when OTS determines that a record has been developed that sufficiently supports a determination on the issues considered at the meeting.

Subpart E—OTS Review
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Source:  66 FR 13003, Mar. 2, 2001, unless otherwise noted.

Expedited Treatment
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§ 516.200   If I file a notice under expedited treatment, when may I engage in the proposed activities?
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If you are eligible for expedited treatment and you have appropriately filed your notice with OTS, you may engage in the proposed activities upon the expiration of 30 days after the filing date of your notice, unless OTS takes one of the following actions before the expiration of that time period:

(a) OTS notifies you in writing that you must file additional information supplementing your notice. If you are required to file additional information, you may engage in the proposed activities upon the expiration of 30 calendar days after the date you file the additional information, unless OTS takes one of the actions described in paragraphs (b) through (d) of this section before the expiration of that time period;

(b) OTS notifies you in writing that your notice is subject to standard treatment under this subpart. OTS will subject your notice to standard treatment if it raises a supervisory concern, raises a significant issue of law or policy, or requires significant additional information;

(c) OTS notifies you in writing that it is suspending the applicable time frames under §516.190; or

(d) OTS notifies you that it disapproves your notice.

Standard Treatment
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§ 516.210   What will OTS do after I file my application?
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(a) OTS action. Within 30 calendar days after the filing date of your application, OTS will take one of the following actions:

------------------------------------------------------------------------              If OTS * * *                          Then * * *------------------------------------------------------------------------(1) Notifies you, in writing, that your  The applicable review period application is complete * * *.           will begin on the date that                                          OTS deems your application                                          complete.(2) Notifies you, in writing, that you   You must submit the required must submit addition information to      additional information under complete your application * * *.         § 516.220.(3) Notifies you, in writing, that your  OTS will not process your application is materially deficient *    application. * *.(4) Takes no action * * *..............  Your application is deemed                                          complete. The applicable                                          review period will begin on                                          the day the 30-day time period                                          expires.------------------------------------------------------------------------

(b) Waiver requests. If your application includes a request for waiver of an information requirement under §516.25(b), and OTS has not notified you that you must submit additional information under paragraph (a)(2) of this section, your request for waiver is granted.

§ 516.220   If OTS requests additional information to complete my application, how will it process my application?
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(a) You may use the following chart to determine the procedure that applies to your submission of additional information under §516.210(a)(1):

------------------------------------------------------------------------   If, within 30 calendar days after the date of OTS's request   Then, OTS may * *      And * * *.for additional information * * *          *.------------------------------------------------------------------------(1) You file a response to all    (i) Notify you in   The applicable information requests * * *.       writing within 15   review period                                   days after the      will begin on the                                   filing date of      date tha t OTS                                   your response       deems your                                   that your           application                                   application is      complete.                                   complete * * *                                   applicable to all                                   response that                                   your application                                   is complete * * *.                                  (ii) Notify you in  You must respond                                   writing within 15   to the additional                                   calendar days       information                                   after the filing    request within                                   date of your        the time period                                   response that you   required by OTS.                                   must submit         OTS will review                                   additional          your response                                   information         under the                                   regarding matters   procedures                                   derived from or     described in this                                   prompted by         section.                                   information                                   already furnished                                   or any additional                                   information                                   information                                   necessary to                                   resolve the                                   issues presented                                   in your                                   application * * *.                                  (iii) Notify you    OTS will not                                   in writing within   process your                                   15 calendar days    application.                                   after the filing                                   date of your                                   response that                                   your application                                   is materially                                   deficient * * *.                                  (iv) Take no        Your application                                   action within 15    is deemed                                   calendar days       complete. The                                   after the filing    applicable review                                   date of your        period will begin                                   response * * *.     on the day that                                                       the 15-day time                                                       period expires.(2) You request an extension of   (i) Grant an        You must fully time to file additional           extension, in       respond within information * * *.                writing,            the extended time                                   specifying the      period specified                                   number of days      by OTS. OTS will                                   for the extension   review your                                   * * *.              response under                                                       the procedures                                                       described under                                                       this section.                                  (ii) Notify you in  OTS will not                                   writing that your   process your                                   extension request   application                                   is disapproved *    further. You may                                   * *.                resubmit the                                                       application for                                                       processing as a                                                       new filing under                                                       the applicable                                                       regulation.(3) You fail to respond           (i) Notify you in   OTS will not completely * * *.                 writing that your   process your                                   application is      application                                   deemed withdrawn    further. You may                                   * * *.              resubmit the                                                       application for                                                       processing as a                                                       new filing under                                                       the applicable                                                       regulation.                                  (ii) Notify you,    You must fully                                   in writing, that    respond within                                   your response is    the extended time                                   incomplete and      period specified                                   extend the          by OTS. OTS will                                   response period,    review your                                   specifying the      response under                                   number of days      the procedures                                   for the respond     described under                                   extension * * *.    this section.------------------------------------------------------------------------

(b) OTS may extend the 15-day period referenced in paragraph (a)(1) of this section by up to 15 calendar days, if OTS requires the additional time to review your response. OTS will notify you that it has extended the period before the end of the initial 15-day period and will briefly explain why the extension is necessary.

(c) If your response filed under paragraph (a)(1) of this section includes a request for a waiver of an informational requirement, your request for a waiver is granted if OTS fails to act on it within 15 calendar days after the filing of your response, unless OTS extends the review period under paragraph (b). If OTS extends the review period under paragraph (b), your request is granted if OTS fails to act on it by the end of the extended review period.

[66 FR 13003, Mar. 2, 2001; 67 FR 3264, Jan. 23, 2002]

§ 516.230   Will OTS conduct an eligibility examination?
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(a) Eligibility examination. OTS may notify you at any time before it deems your application complete that it will conduct an eligibility examination. If OTS decides to conduct an eligibility examination, it will not deem your application complete until it concludes the examination.

(b) Additional information. OTS may, as a result of the eligibility examination, notify you that you must submit additional information to complete your application. If so, you must respond to the additional information request within the time period required by OTS. OTS will review your response under the procedures described in §516.220.

§ 516.240   What may OTS require me to do after my application is deemed complete?
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After your application is deemed complete, but before the end of the applicable review period,

(a) OTS may require you to provide additional information if the information is necessary to resolve or clarify the issues presented by your application.

(b) OTS may determine that a major issue of law or a change in circumstances arose after you filed your application, and that the issue or changed circumstances will substantially effect your application. If OTS identifies such an issue or changed circumstances, it may:

(1) Notify you, in writing, that your application is now incomplete and require you to submit additional information to complete the application under the procedures described at §516.220; and

(2) Require you to publish a new public notice of your application under §516.250.

§ 516.250   Will OTS require me to publish a new public notice?
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(a) If your application was subject to a publication requirement, OTS may require you to publish a new public notice of your application if:

(1) You submitted a revision to the application, you submitted new or additional information, or a major issue of law or a change in circumstances arose after the filing of your application; and

(2) OTS determines that additional comment on these matters is appropriate because of the significance of the new information or circumstances.

(b) OTS will notify you in writing if you must publish a new public notice of your revised application.

(c) If you are required to publish a new public notice of your revised application, you must notify OTS after you publish the new public notice.

§ 516.260   May OTS suspend processing of my application?
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(a) Suspension. OTS may, at any time, indefinitely suspend processing of your application if:

(1) OTS, another governmental entity, or a self-regulatory trade or professional organization initiates an investigation, examination, or administrative proceeding that is relevant to OTS's evaluation of your application;

(2) You request the suspension or there are other extraordinary circumstances that have a significant impact on the processing of your application.

(b) Notice. OTS will promptly notify you, in writing, if it suspends your application.

§ 516.270   How long is the OTS review period?
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(a) General. The applicable OTS review period is 60 calendar days after the date that your application is deemed complete, unless an applicable OTS regulation specifies a different review period.

(b) Multiple applications. If you submit more than one application in connection with a proposed action or if two or more applicants submit related applications, the applicable review period for all applications is the review period for the application with the longest review period, subject to statutory review periods.

(c) Extensions. (1) OTS may extend the review period for up to 30 calendar days beyond the period described in paragraph (a) or (b) of this section. OTS must notify you in writing of the extension and the duration of the extension. OTS must issue the written extension before the end of the review period.

(2) OTS may also extend the review period as needed until it acts on the application, if the application presents a significant issue of law or policy that requires additional time to resolve. OTS must notify you in writing of the extension and the general reasons for the extension. OTS must issue the written extension before the end of the review period, including any extension of that period under paragraph (c)(1) of this section. This section applies to applications and notices filed under §575.3(b) and part 574 of this chapter.

§ 516.280   How will I know if my application has been approved?
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(a) OTS approval or denial. (1) OTS will approve or deny your application before the expiration of the applicable review period, including any extensions of the review period.

(2) OTS will promptly notify you in writing of its decision to approve or deny your application.

(b) No OTS action. If OTS fails to act under paragraph (a)(1) of this section, your application is approved.

§ 516.290   What will happen if OTS does not approve or disapprove my application within two calendar years after the filing date?
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(a) Withdrawal. If OTS has not approved or denied your pending application within two calendar years after the filing date under §516.45, OTS will notify you, in writing, that your application is deemed withdrawn unless OTS determines that you are actively pursuing a final OTS determination on your application. You are not actively pursuing a final OTS determination if you have failed to timely take an action required under this part, including filing required additional information, or OTS has suspended processing of your application under §516.260 based on circumstances that are, in whole or in part, within your control and you have failed to take reasonable steps to resolve these circumstances.

(b) Effective date. This section is effective July 1, 2001.

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