# 12 C.F.R. § 303.246 (2026): Conversion with diminution of capital

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_246

## Section

- **Citation:** 12 C.F.R. § 303.246 (2026)
- **Heading:** Conversion with diminution of capital
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Title 12 CFR: Banks and Banking / Chapter III: FEDERAL DEPOSIT INSURANCE CORPORATION / Part 303: FILING PROCEDURES / Subpart M: Other Filings / § 303.246: § 303.246   Conversion with diminution of capital.

## Text

(a)
Scope.
This section contains the procedures to be followed by an insured federal depository institution seeking the prior written consent of the FDIC pursuant to section 18(i)(2) of the FDI Act (12 U.S.C. 1828(i)(2)) to convert from an insured federal depository institution to an insured state nonmember bank (except a District bank) where the capital stock or surplus of the resulting bank will be less than the capital stock or surplus, respectively, of the converting institution at the time of the shareholders' meeting approving such conversion.
(b)
Where to file.
Applicants shall submit a letter application to the appropriate FDIC office.
(c)
Content of filing.
The application shall contain the following information:
(1) A description of the proposed transaction;
(2) A schedule detailing the present and proposed capital structure; and
(3) A copy of any documents submitted to the state chartering authority with respect to the charter conversion.
(d)
Additional information.
The FDIC may request additional information at any time during the processing.
(e)
Processing.
The FDIC will provide the applicant with written notification of the final action when the decision is rendered.
[67 FR 79247, Dec. 27, 2002. Redesignated at 71 FR 20526, Apr. 21, 2006]

## Nearby sections

- [12 C.F.R. § 303.240 (2026) § 303.240   General.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_240.md)
- [12 C.F.R. § 303.241 (2026) § 303.241   Reduce or retire capital stock or capital debt instruments.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_241.md)
- [12 C.F.R. § 303.242 (2026) § 303.242   Exercise of trust powers.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_242.md)
- [12 C.F.R. § 303.243 (2026) § 303.243   Brokered deposits.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_243.md)
- [12 C.F.R. § 303.244 (2026) § 303.244   Golden parachute and severance plan payments.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_244.md)
- [12 C.F.R. § 303.245 (2026) § 303.245   Waiver of liability for commonly controlled depository institutions.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_245.md)
- [12 C.F.R. § 303.246 (2026) § 303.246   Conversion with diminution of capital.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_246.md)
- [12 C.F.R. § 303.247 (2026) § 303.247   Continue or resume status as an insured institution following termination under section 8 of the FDI Act.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_247.md)
- [12 C.F.R. § 303.248 (2026) § 303.248   Truth in Lending Act—Relief from reimbursement.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_248.md)
- [12 C.F.R. § 303.249 (2026) § 303.249   Management official interlocks.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_249.md)
- [12 C.F.R. § 303.250 (2026) § 303.250   Modification of conditions.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_250.md)
- [12 C.F.R. § 303.251 (2026) § 303.251   Extension of time.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_251.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_246. Check the current official text before relying on it. Not legal advice.