CFR > Title 12 - Banks and Banking > CHAPTER V—OFFICE OF THRIFT SUPERVISION, DEPARTMENT OF THE TREASURY > PART 585—PROHIBITED SERVICE AT SAVINGS AND LOAN HOLDING COMPANIES > SUBPART B—Exemptions (§585.100 to §585.140) > 585.130—How will I know if my application is approved?

585.130—How will I know if my application is approved?

(a) Approval. If OTS approves your application, OTS will issue an approval order. An approval order will include a summary of the relevant factors that OTS considered under § 585.120, will require fidelity bond coverage for the position to the same extent as similar positions with the SLHC. The approval order may include such other conditions as may be appropriate.
(b) Denial. If OTS denies your application, OTS will issue a denial order. The denial order will include the following written information:
(1) A summary of the relevant factors that OTS considered under § 585.120; and
(2) A statement indicating that you may file a written request demonstrating good cause for a hearing on the denial of your application, and that you must file this request with OTS within 20 days of the date of issuance of the order.