(a) Community. A management official of a depository organization may not serve at the same time as a management official of an unaffiliated depository organization if the depository organizations in question (or a depository institution affiliate thereof) have offices in
the same community.
(b) RMSA. A management official of a depository organization may not
serve at the same time as a management official of an unaffiliated depository organization if the depository organizations in question (or a depository institution affiliate thereof) have offices in the same RMSA and each depository organization has total assets of $50 million or more.
(c) Major assets. A management official of a depository organization
with total assets exceeding $1 billion (or any affiliate thereof) may
not serve at the same time as a management official of an unaffiliated
depository organization with total assets exceeding $500 million (or any
affiliate thereof), regardless of the location of the two depository
organizations.
[61 FR 40302, Aug. 2, 1996, as amended at 64 FR 51679, Sept. 24, 1999 and at 72 FR 1276, Jan. 11, 2007]
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