12 CFR § 101.7 - Reelection.

---
identifier: "/us/cfr/t12/s101.7"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 101.7 - Reelection."
title_number: 12
title_name: "Banks and Banking"
section_number: "101.7"
section_name: "Reelection."
chapter_name: "COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY"
part_number: "101"
part_name: "COVERED SAVINGS ASSOCIATIONS"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 93a, 1462a, 1463, 1464, 1464a, and 5412(b)(2)(B)."
regulatory_source: "84 FR 24005, May 24, 2019, unless otherwise noted."
cfr_part: "101"
---


# 101.7 Reelection.

(a) *Reelection.* A Federal savings association that has terminated its election to operate as a covered savings association may submit a notice to reelect to operate as a covered savings association, if at least five years have elapsed since the effective date of the termination. Upon determining that good cause exists, the OCC may permit a Federal savings association to reelect to operate as a covered savings association prior to the expiration of the five-year period.

(b) *Procedures and treatment.* A Federal savings association reelecting to operate as a covered savings association shall comply with, and shall be subject to, the provisions of this part as if it were making an election for the first time.