Corporate Applications and Other Requests:
Vol. 11, No. 11
IN THIS ISSUE:
PLEASE NOTE: Interpretive Letters and No Objection Letters reflect the views of the Comptroller's legal staff.
Corporate Decisions and Decisions (CRA) are from the office of Bank Organization and Structure. The list of CRA
Ratings is from the Communications Division. For copies of the evaluation, you should contact the bank directly or the
Office of the Comptroller of the Currency, Attn: Public Reference Room, Mailstop 1-5, Washington,
Members of the news media are encouraged to cite the letter number when reporting or
summarizing documents from this
package. This helps to process single requests in a more timely manner.
||Letter concludes that an "automated financial receiving station," i.e., an automated drop
box, is an ATM or remote service unit and therefore not a branch. (04/15/98)
||Letter concludes that, under described facts, a school banking program does not cause
school to become a branch of the bank. (08/03/98)
||National banks may buy and sell commemorative coins issued by an entity other than
the United States Mint subject to the guidelines contained in Banking Circular 58 and
its Supplement. (09/21/98)
||Letter concludes that a national bank may require collective investment fund
withdrawals in amounts below a specified amount to be in cash, while withdrawals in
amounts at or above that specified amount will occur in kind. (09/21/98)
||Letter approved a national bank to enter into a joint venture (09/28/98)
||Letter concludes that under described facts, ATM sharing space with a LPO and courier
service is not a branch. (09/29/98)
||Letter concludes that the OCC will not object to national banks or their subsidiaries
soliciting and selling insurance in the same manner permissible in Louisiana for
insurance agencies generally and for bank-established insurance agencies in particular.
This includes the ability of a national bank insurance agency to establish locations of
the agency outside of the "place of 5,000," i.e. so-called "satellite offices," and to
engage in insurance sales activities at those locations. (10/20/98)
||Letter concludes that a national bank may establish an operating subsidiary to serve as a
captive insurance company for the purpose of underwriting insurance coverages on the
operating risks of the parent bank and its affiliates. (10/20/98)|
||Application by Community National Bank, Alva, Oklahoma, to elect the corporate
governance provisions of Oklahoma law and complete a reverse stock split in
accordance with those provisions. (Control Number 98MW12131), 10/02/98
||Application to merge SecurityBank Texas, Arlington, Texas, with and into
SouthTrust Bank, National Association, Birmingham, Alabama. (Control Number
||Acquisition of the operations of GiroCredit Bank Aktiengesellschaft de Sparkassen
AG New York federal branch through merger with Erst Bank der osterreichischen
Soarkassen. (Control Number 98IB120003), 10/15/98
||Application by National Bank of Commerce, Memphis, Tennessee, to expand the
activities of its subsidiary to include underwriting and dealing in, to a limited extent,
securities of states and their political subdivision that do not qualify under the OCC's
current definitions as general obligation securities. (Control Number 98WO080024),
Approvals with conditions enforceable under 12 U.S.C. 1818
||Request of operating subsidiaries of various national banking associations to acquire
ownership interest in CheckFree Corporation through Integrion Financial Network,
L.L.C. (Control Numbers 98WO080006 through -0018 and -0021), 10/02/98
||Application to charter an uninsured national trust bank with the title "King Trust
Company, National Association," Spring Arbor, Michigan. (Control Number 98CE010006),
||Application to charter an uninsured national trust bank with the title "D.L. Moody Trust
Company, National Association," Chicago, Illinois (Proposed). (Control Number
Final Enforcement Actions
Enclosed is a copy of the OCC's news release number 98-117, announcing the
enforcement actions. Copies of the final actions are available by writing to the OCC, Public
Reference Room, Mailstop 1-5, Washington, D.C. 20219. When ordering, specify the
appropriate Enforcement Action Number.
COMMUNITY REINVESTMENT ACT (CRA) Performance Evaluations
Enclosed is a list of CRA performance evaluations that became public during the period of
October 15 through November 14.
INTERPRETATIONS AND ACTIONS is published monthly by the Office of the Comptroller of the Currency.
Subscriptions are available at a rate of $175 per year by writing to the Comptroller of the Currency, P.O. Box 70004,
Chicago, IL 60673-0004. Prepayment is requested. Suggestions, comments or questions may be sent to Jacqueline J.
England, Communications Division, Comptroller of the Currency, Washington, DC 20219.