§ 108.202. Holding Period.

(a) Blanket Authority. Pursuant to the provisions of Section 6706 of the law, the commissioner hereby approves an extension of the five-year holding period specified therein for an additional period not to exceed ten years. This extension shall not affect orders previously issued under the provisions of Section 7155.2 of the law.

(b) Commencement. Generally, the holding period for Section 6705 property, set out in Section 6706, commences on the date the property is acquired or is reclassified from Section 6702 or 6707 property, or such other date as the commissioner prescribes. If real property acquired under Section 6707 in settlement of loans is classified as Section 6705 property under Section 108.205 hereof, it shall become Section 6705 property on the date of issuance of the approval of the commissioner under Section 108.205(2) hereof. In the event of the merger of an association into another association, the holding period of the Section 6705 property of the disappearing association is not affected and continues from the date the property was acquired by the disappearing association.

HISTORY

1. Change without regulatory effect renumbering former Section 243.2 to Section 108.202 (Register 87, No. 14). For prior history, see Register 81, No. 34.

Note

Note: Authority cited: Section 5255, Financial Code. Reference: Section 6706, Financial Code.