12 U.S.C. § 4807 — Time limit on agency consideration of completed applications
submitted 32 years ago by Pub. L. 103-325 to r/title-12-BANKS-AND-BANKING · 68 words · no verdicts yet
This section sets a time limit for an agency’s consideration of a completed application. It states when the period begins, what action the agency must take, and the exceptions described in the section.
(a) In general Each Federal banking agency must 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 can waive the applicability of subsection (a) for such application at any time.
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.
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.
Source credit: (Pub. L. 103–325, title III, § 343, Sept. 23, 1994, 108 Stat. 2238.)
- 1994Enacted · Pub. L. 103-325 · 108 Stat. 2238
A history note hasn’t been published yet. The record shows enactment by Pub. L. 103-325 on 1994-09-23.
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