§ 1816. — Factors to be considered.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC1816]
TITLE 12--BANKS AND BANKING
CHAPTER 16--FEDERAL DEPOSIT INSURANCE CORPORATION
Sec. 1816. Factors to be considered
The factors that are required, under section 1814 of this title, to
be considered in connection with, and enumerated in, any certificate
issued pursuant to section 1814 of this title and that are required,
under section 1815 of this title, to be considered by the Board of
Directors in connection with any determination by such Board pursuant to
section 1815 of this title are the following:
(1) The financial history and condition of the depository
institution.
(2) The adequacy of the depository institution's capital
structure.
(3) The future earnings prospects of the depository institution.
(4) The general character and fitness of the management of the
depository institution.
(5) The risk presented by such depository institution to the
Bank Insurance Fund or the Savings Association Insurance Fund.
(6) The convenience and needs of the community to be served by
such depository institution.
(7) Whether the depository institution's corporate powers are
consistent with the purposes of this chapter.
(Sept. 21, 1950, ch. 967, Sec. 2[6], 64 Stat. 876; Pub. L. 101-73, title
II, Sec. 207, Aug. 9, 1989, 103 Stat. 206; Pub. L. 104-208, div. A,
title II, Sec. 2704(d)(14)(F), Sept. 30, 1996, 110 Stat. 3009-491.)
Prior Provisions
Section is derived from subsec. (g) of former section 264 of this
title. See Codification note set out under section 1811 of this title.
Amendments
1996--Par. (5). Pub. L. 104-208, which directed substitution of
``Deposit Insurance Fund'' for ``Bank Insurance Fund or the Savings
Association Insurance Fund'', was not executed. See Effective Date of
1996 Amendment note below.
1989--Pub. L. 101-73 amended section generally. Prior to amendment,
section read as follows: ``The factors to be enumerated in the
certificate required under section 1814 of this title and to be
considered by the Board of Directors under section 1815 of this title
shall be the following: The financial history and condition of the bank,
the adequacy of its capital structure, its future earnings prospects,
the general character of its management, the convenience and needs of
the community to be served by the bank, and whether or not its corporate
powers are consistent with the purposes of this chapter.''
Effective Date of 1996 Amendment
Amendment by Pub. L. 104-208 effective Jan. 1, 1999, if no insured
depository institution is a savings association on that date, see
section 2704(c) of Pub. L. 104-208, set out as a note under section 1821
of this title.
Section Referred to in Other Sections
This section is referred to in sections 1815, 1828 of this title.
