CFR > Title 12 - Banks and Banking > CHAPTER III—FEDERAL DEPOSIT INSURANCE CORPORATION > SUBCHAPTER B—REGULATIONS AND STATEMENTS OF GENERAL POLICY (parts 323 to 371) > PART 326—MINIMUM SECURITY DEVICES AND PROCEDURES AND BANK SECRECY ACT 1 COMPLIANCE > SUBPART A—Minimum Security Procedures (§326.0 to §326.4) > 326.2—Designation of security officer.

326.2—Designation of security officer.

Upon the issuance of federal deposit insurance, the board of directors of each insured nonmember bank 2 shall designate a security officer who shall have the authority, subject to the approval of the board of directors, to develop, within a reasonable time, but no later than 180 days, and to administer a written security program for each banking office.

Code of Federal Regulations

Footnote(s): 2 The term board of directors includes the managing official of an insured branch of a foreign bank for purposes of 12 CFR 326.0-326 .4.