Title 12 — Banks and Banking
Chapter 48 — Financial Institutions Regulatory Improvement
§ 4807. Time limit on agency consideration of completed applications
Statutory text
In general
Each Federal banking agency shall take final action on any application to the agency before the end of the 1-year period beginning on the date on which a completed application is received by the agency.
Waiver by applicant authorized
Any person submitting an application to a Federal banking agency may waive the applicability of subsection (a) with respect to such application at any time.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Riegle Community Development and Regulatory Improvement Act of 1994
Pub. L. 103–325 title III § 343 · 108 Stat. 2160
Enacted · 12 U.S.C. § 4807
(Pub. L. 103–325, title III, § 343, Sept. 23, 1994, 108 Stat. 2238.)
Source evidence
Code source credit
(Pub. L. 103–325, title III, § 343, Sept. 23, 1994, 108 Stat. 2238.)Enacted provision · exact public law section
SEC. 343. TIME LIMIT ON AGENCY CONSIDERATION OF COMPLETED APPLICATIONS. (a) In General.— Each Federal banking agency shall take final action on any application to the agency before the end of the 1-year period beginning on the date on which a completed application is received by the agency. (b) Waiver by Applicant Authorized.— Any person submitting an application to a Federal banking agency may waive the applicability of subsection (a) with respect to such application at any time.
1 of 1 references resolved to an enrolled provision