# 101.4 Treatment of covered savings associations.
(a) *In general*—(1) *National bank activities.* Except as provided in this section, a covered savings association may engage in any activity that is permissible for a similarly located national bank to engage in as part of, or incidental to, the business of banking, or explicitly authorized by statute for a national bank, subject to the same authorization, terms, and conditions that would apply to a similarly located national bank, as determined by the OCC for purposes of this part.
(2) *Treatment as a Federal savings association.* A covered savings association shall continue to comply with the provisions of law that apply to Federal savings associations for purposes of:
(i) Governance (including incorporation, bylaws, boards of directors, shareholders, members, and distribution of dividends);
(ii) Consolidation, merger, dissolution, conversion (including conversion to a stock bank or to another charter), conservatorship, and receivership;
(iii) Provisions of law applicable only to Federal mutual savings associations;
(iv) Offers and sales of securities at an office of a Federal savings association;
(v) Savings bank activities authorized by section 5(i)(4) of HOLA;
(vi) Issuance of subordinated debt securities and mandatorily redeemable preferred stock;
(vii) Increases in permanent capital of a Federal stock savings association;
(viii) Rules of practice and procedure in adjudicatory proceedings;
(ix) Rules for investigative proceedings and formal examination proceedings;
(x) Removals, suspensions, and prohibitions where a crime is charged or proven;
(xi) Security procedures;
(xii) Maintenance of records and recordkeeping and confirmation requirements for securities transactions;
(xiii) Accounting and disclosure standards;
(xiv) Nondiscrimination; and
(xv) Advertising.
(b) *Existing branches.* A covered savings association may continue to operate any branch or agency that the covered savings association operated on the effective date of the election.
(c) *Assets greater than $20 billion.* A covered savings association may continue to operate as a covered savings association if, after the effective date of the election, it has total consolidated assets greater than $20 billion.