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12 C.F.R. § 326.2   Designation of security officer.

Title 12 - Banks and Banking

Title 12: Banks and Banking
PART 326—MINIMUM SECURITY DEVICES AND PROCEDURES AND BANK SECRECY ACT 1 COMPLIANCE
Subpart A—Minimum Security Procedures

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§ 326.2   Designation of security officer.

Upon the issuance of federal deposit insurance, the board of directors of each insured nonmember bank² shall designate a security officer who shall have the authority, subject to the approval of the board of directors, to develop, within a reasonable time, but no later than 180 days, and to administer a written security program for each banking office.

² The term board of directors includes the managing official of an insured branch of a foreign bank for purposes of 12 CFR 326.0–326.4.

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