§ 3202. — Dual service of management official as management official of unaffiliated institution or holding company in same area, town, or village prohibited.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC3202]
TITLE 12--BANKS AND BANKING
CHAPTER 33--DEPOSITORY INSTITUTION MANAGEMENT INTERLOCKS
Sec. 3202. Dual service of management official as management
official of unaffiliated institution or holding company in same
area, town, or village prohibited
A management official of a depository institution or a depository
holding company may not serve as a management official of any other
depository institution or depository holding company not affiliated
therewith if an office of one of the institutions or any depository
institution that is an affiliate of such institutions is located within
either--
(1) the same primary metropolitan statistical area, the same
metropolitan statistical area, or the same consolidated metropolitan
statistical area that is not comprised of designated primary
metropolitan statistical areas as defined by the Office of
Management and Budget, except in the case of depository institutions
with less than $20,000,000 in assets in which case the provision of
paragraph (2) shall apply, as that in which an office of the other
institution or any depository institution that is an affiliate of
such other institution is located, or
(2) the same city, town, or village as that in which an office
of the other institution or any depository institution that is an
affiliate of such other institution is located, or in any city,
town, or village contiguous or adjacent thereto.
(Pub. L. 95-630, title II, Sec. 203, Nov. 10, 1978, 92 Stat. 3673; Pub.
L. 98-181, title VII, Sec. 701(c), Nov. 30, 1983, 97 Stat. 1267.)
Amendments
1983--Par. (1). Pub. L. 98-181 substituted ``primary metropolitan
statistical area, the same metropolitan statistical area, or the same
consolidated metropolitan statistical area that is not comprised of
designated primary metropolitan statistical areas'' for ``standard
metropolitan statistical area''.
Section Referred to in Other Sections
This section is referred to in sections 3204, 3205, 3207 of this
title.
