CFR > Title 12 - Banks and Banking > CHAPTER III—FEDERAL DEPOSIT INSURANCE CORPORATION > SUBCHAPTER A—PROCEDURE AND RULES OF PRACTICE (parts 300 to 313) > PART 308—RULES OF PRACTICE AND PROCEDURE > SUBPART D—Rules and Procedures Applicable to Proceedings Relating to Disapproval of Acquisition of Control (§308.110 to §308.114) > 308.112—Notice of disapproval.

308.112—Notice of disapproval.

(a) General rule. (1) Within three days of the decision by the Board of Directors or its designee to disapprove a proposed acquisition of control of an insured nonmember bank, a written notice of disapproval shall be mailed by first class mail to, or otherwise served upon, the party seeking acquire control.
(2) The notice of disapproval shall:
(i) Contain a statement of the basis for the disapproval; and
(ii) Indicate that a hearing may be requested by filing a written request with the Executive Secretary within ten days after service of the notice of disapproval; and if a hearing is requested, that an answer to the notice of disapproval, as required by § 308.113, must be filed within 20 days after service of the notice of disapproval.
(b) Waiver of hearing. Failure to request a hearing pursuant to this section shall constitute a waiver of the opportunity for a hearing and the notice of disapproval shall constitute a final and unappealable order.
(c) Section 308.18(b) of the Uniform Rules shall not apply to the content of the Notice of Disapproval.