Title 12, Banks and BankingRelease 119-102
§214d Prohibition on Conversion
Title 12 › CHAPTER 2 — NATIONAL BANKS › SUBCHAPTER XV — CONVERSION OF NATIONAL BANKS INTO STATE BANKS › § 214d
Summary
A national banking association cannot convert into a State bank or a State savings association while it is under a cease-and-desist or other formal enforcement order from the Comptroller of the Currency. It also cannot convert while it has a written agreement with the Comptroller about a significant supervisory matter.
Full Legal Text
Title 12, §214d
Banks and Banking, Source: USLM XML via OLRC
A national banking association may not convert to a State bank or State savings association during any period in which the national banking association is subject to a cease and desist order (or other formal enforcement order) issued by, or a memorandum of understanding entered into with, the Comptroller of the Currency with respect to a significant supervisory matter.
Legislative History
Notes & Related Subsidiaries
Statutory Notes and Related Subsidiaries
Effective Date
Section effective 1 day after July 21, 2010, except as otherwise provided, see section 4 of Pub. L. 111–203, set out as a note under section 5301 of this title.
Reference
Citations & Metadata
Citation
12 U.S.C. § 214d
Title 12, Banks and Banking
Last Updated
Aug 21, 2026
Release point: 119-102