OCC Heightened Standards (12 CFR Part 30, Appendix D)
III. Standards for the board of directors – OCC Heightened Standards (12 CFR Part 30, Appendix D)

OCC Heightened Standards (12 CFR Part 30, Appendix D) III.D: III.D At least two independent directors

At least two directors should not have been an officer or employee of the parent or bank in the previous three years, should not be an immediate family member (Regulation Y, 12 CFR 225.41(b)(3)) of a person who is or was within three years an executive officer (Regulation O, 12 CFR 215.2(e)(1)), and should qualify as independent under a national securities exchange's listing standards to the OCC's satisfaction; Federal savings associations remain subject to their own board composition rules.

Maintained by Gerard BlokdykVerified against the published standard Control text last updated

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