Federal · Title 12 — Banks and Banking
12 U.S.C. § 214d: Prohibition on conversion
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A national banking association may not convert to a State bank or State savings association during any period in which the national banking association is subject to a cease and desist order (or other formal enforcement order) issued by, or a memorandum of understanding entered into with, the Comptroller of the Currency with respect to a significant supervisory matter.
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