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U.S. Code as of:
01/19/04
Section 3202. Dual service of management official as management official of unaffiliated institution or holding company in same area, town, or village prohibited
A management official of a depository institution or a depository
holding company may not serve as a management official of any other
depository institution or depository holding company not affiliated
therewith if an office of one of the institutions or any depository
institution that is an affiliate of such institutions is located
within either -
(1) the same primary metropolitan statistical area, the same
metropolitan statistical area, or the same consolidated
metropolitan statistical area that is not comprised of designated
primary metropolitan statistical areas as defined by the Office
of Management and Budget, except in the case of depository
institutions with less than $20,000,000 in assets in which case
the provision of paragraph (2) shall apply, as that in which an
office of the other institution or any depository institution
that is an affiliate of such other institution is located, or
(2) the same city, town, or village as that in which an office
of the other institution or any depository institution that is an
affiliate of such other institution is located, or in any city,
town, or village contiguous or adjacent thereto.
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