(a) Who may file.
(1) A savings and loan holding company
or a person who was convicted of a criminal offense described in section
238.84 or who has agreed to enter into a pre-trial diversion or similar
program in connection with a prosecution for such a criminal offense
may file an application with the Board seeking an exemption from the
prohibitions in this subpart.
(2) A savings and loan holding company
or a person may seek an exemption only for a designated position (or
positions) with respect to a named savings and loan holding company.
(3) A savings and loan
holding company or a person may not file an application less than
one year after the latter of the date of a denial of the same exemption
under section 238.89(b), section 238.90(a) or section 238.90(d).
(b) Prohibition
pending Board action. Unless a savings and loan holding company
or a person is exempt under section 238.86(b), the prohibitions in
section 238.83 continue to apply pending Board action on the application.
