Banks and Banking. Part159:Subordinate organizations. Section159.3:What are the characteristics of,and what requirements apply to, subordinate organizations of Federal savings associations?
A Federal savings association (‘‘you’’) that meets the requirements of this section, as detailed in the following chart, may establish, or obtain an interest in an operating subsidiary or a service corporation. For ease of reference, this section cross-references other regulations in this chapter affecting operating subsidiaries and service corporations. You should refer to those regulations for the details of how they apply. The chart also discusses the regulations that may apply to lower-tier entities in which you have an indirect ownership interest through your operating subsidiary or service corporation. The chart follows: