(a) Records. Each savings and loan holding company shall maintain such books
and records as may be prescribed by the Board. Each savings and loan
holding company and its non-depository affiliates shall maintain accurate
and complete records of all business transactions. Such records shall
support and be readily reconcilable to any regulatory reports submitted
to the Board and financial reports prepared in accordance with GAAP.
The records shall be maintained in the United States and be readily
accessible for examination and other supervisory purposes within 5
business days upon request by the Board, at a location acceptable
to the Board.
(b) Reports. Each
savings and loan holding company and each subsidiary thereof, other
than a savings association, shall file with the Board such reports
as may be required by the Board. Such reports shall be made under
oath or otherwise, and shall be in such form and for such periods,
as the Board may prescribe. Each report shall contain information
concerning the operations of such savings and loan holding company
and its subsidiaries as the Board may require.
(c) Registration statement.
(1) Filing of
registration statement. Not later than 90 days after becoming
a savings and loan holding company, each savings and loan holding
company shall register with the Board by furnishing information in
the manner and form prescribed by the Board.
(2) Date of registration. The date of registration of a savings and loan holding company shall
be the date on which its registration statement is received by the
Board.
(3) Extension of time for registration. For timely and good cause
shown, the Board may extend the time within which a savings and loan
holding company shall register.
(d) Release from registration. The Board may
at any time, upon its own motion or upon application, release a registered
savings and loan holding company from any registration theretofore
made by such company, if the Board shall determine that such company
no longer has control of any savings association or no longer qualifies
as a savings and loan holding company.
(e) Examinations. Each savings and loan holding
company and each subsidiary thereof shall be subject to such examinations
as the Board may prescribe. The Board shall, to the extent deemed
feasible, use for the purposes of this section reports filed with
or examinations made by other Federal agencies or the appropriate
State supervisory authority.
(f) Appointment of agent. The Board may require any savings and loan holding
company, or persons connected therewith if it is not a corporation,
to execute and file a prescribed form of irrevocable appointment of
agent for service of process.
