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12 C.F.R. § 516.290   What will happen if OTS does not approve or disapprove my application within two calendar years after the filing date?

Title 12: Banks and Banking
PART 516—APPLICATION PROCESSING PROCEDURES
Subpart E—OTS Review
Standard Treatment

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§ 516.290   What will happen if OTS does not approve or disapprove my application within two calendar years after the filing date?

(a) Withdrawal. If OTS has not approved or denied your pending application within two calendar years after the filing date under §516.45, OTS will notify you, in writing, that your application is deemed withdrawn unless OTS determines that you are actively pursuing a final OTS determination on your application. You are not actively pursuing a final OTS determination if you have failed to timely take an action required under this part, including filing required additional information, or OTS has suspended processing of your application under §516.260 based on circumstances that are, in whole or in part, within your control and you have failed to take reasonable steps to resolve these circumstances.

(b) Effective date. This section is effective July 1, 2001.