§ 4807. — Time limit on agency consideration of completed applications.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC4807]
TITLE 12--BANKS AND BANKING
CHAPTER 48--FINANCIAL INSTITUTIONS REGULATORY IMPROVEMENT
Sec. 4807. Time limit on agency consideration of completed
applications
(a) In general
Each Federal banking agency shall take final action on any
application to the agency before the end of the 1-year period beginning
on the date on which a completed application is received by the agency.
(b) Waiver by applicant authorized
Any person submitting an application to a Federal banking agency may
waive the applicability of subsection (a) of this section with respect
to such application at any time.
(Pub. L. 103-325, title III, Sec. 343, Sept. 23, 1994, 108 Stat. 2238.)
