# 12 CFR § 239.1: Authority, purpose, and scope

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/ecfr-12-239.1

## Section

- **Citation:** 12 CFR § 239.1
- **Heading:** Authority, purpose, and scope
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** September 22, 2026
- **Source:** Publisher's official text
- **Location:** Title 12—Banks and Banking > CHAPTER II—FEDERAL RESERVE SYSTEM > SUBCHAPTER A—BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM > PART 239—MUTUAL HOLDING COMPANIES (REGULATION MM) > Subpart A—General Provisions

## Text

(a) Authority. This part is issued by the Board of Governors of the Federal Reserve System (“Board”) under section 10(g) and (o) of the Home Owners' Loan Act (“HOLA”).
(b) Purpose. The principal purposes of this part are to:
(1) Regulate the reorganization of mutual savings associations to mutual holding companies and the creation of subsidiary holding companies of mutual holding companies;
(2) Define and regulate the operations of mutual holding companies and subsidiary holding companies of mutual holding companies; and
(3) Set forth the procedures for securing approval for these transactions.
(c) Scope. Except as the Board may otherwise determine, the reorganization of mutual savings associations into mutual holding companies, any related stock issuances by subsidiary holding companies, and the conversion of mutual holding companies into stock form are exclusively governed by the provisions of this part, and no mutual savings association shall reorganize to a mutual holding company, no subsidiary holding company of a mutual holding company shall issue minority stock, and no mutual holding company shall convert into stock form without the prior written approval of the Board. The Board may grant a waiver in writing from any requirement of this part for good cause shown.

## Nearby sections

- [12 CFR § 239.1 § 239.1 Authority, purpose, and scope.](https://www.frixlaw.com/law-library/statutes/ecfr-12-239.1.md)
- [12 CFR § 239.2 § 239.2 Definitions.](https://www.frixlaw.com/law-library/statutes/ecfr-12-239.2.md)
- [12 CFR § 239.3 § 239.3 Mutual holding company reorganizations.](https://www.frixlaw.com/law-library/statutes/ecfr-12-239.3.md)
- [12 CFR § 239.4 § 239.4 Grounds for disapproval of reorganizations.](https://www.frixlaw.com/law-library/statutes/ecfr-12-239.4.md)
- [12 CFR § 239.5 § 239.5 Membership rights.](https://www.frixlaw.com/law-library/statutes/ecfr-12-239.5.md)
- [12 CFR § 239.6 § 239.6 Contents of Reorganization Plans.](https://www.frixlaw.com/law-library/statutes/ecfr-12-239.6.md)
- [12 CFR § 239.7 § 239.7 Acquisition and disposition of savings associations, savings and loan holding companies, and other corporations by mutual holding companies.](https://www.frixlaw.com/law-library/statutes/ecfr-12-239.7.md)
- [12 CFR § 239.8 § 239.8 Operating restrictions.](https://www.frixlaw.com/law-library/statutes/ecfr-12-239.8.md)
- [12 CFR § 239.9 § 239.9 Conversion or liquidation of mutual holding companies.](https://www.frixlaw.com/law-library/statutes/ecfr-12-239.9.md)
- [12 CFR § 239.10 § 239.10 Procedural requirements.](https://www.frixlaw.com/law-library/statutes/ecfr-12-239.10.md)
- [12 CFR § 239.11 § 239.11 Subsidiary holding companies.](https://www.frixlaw.com/law-library/statutes/ecfr-12-239.11.md)
- [12 CFR § 239.12 § 239.12 Communication between members of a mutual holding company.](https://www.frixlaw.com/law-library/statutes/ecfr-12-239.12.md)
- [12 CFR § 239.13 § 239.13 Charters.](https://www.frixlaw.com/law-library/statutes/ecfr-12-239.13.md)
- [12 CFR § 239.14 § 239.14 Charter amendments.](https://www.frixlaw.com/law-library/statutes/ecfr-12-239.14.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/ecfr-12-239.1. Check the current official text before relying on it. Not legal advice.