303.247—Continue or resume status as an insured institution following termination under section 8 of the FDI Act.
(a) Scope.
This section relates to an application by a depository institution whose insured status has been terminated under section 8 of the FDI Act (12 U.S.C. 1818) for permission to continue or resume its status as an insured depository institution. This section covers institutions whose deposit insurance continues in effect for any purpose or for any length of time under the terms of an FDIC order terminating deposit insurance, but does not cover operating non-insured depository institutions which were previously insured by the FDIC, or any non-insured, non-operating depository institution whose charter has not been surrendered or revoked.
(1)
A complete statement of the action requested, all relevant facts, and the reason for such requested action; and
(2)
A certified copy of the resolution of the depository institution's board of directors authorizing submission of the filing.
(d) Additional information.
The FDIC may request additional information at any time during processing of the filing.
(e) Processing.
The FDIC will provide the applicant with written notification of the final action as soon as the decision is rendered.