Get the free Application for Operating Subsidiary - occ

This document is an application submitted by the USAA Federal Savings Bank to establish an operating subsidiary for credit card operations under the supervision of the Office of Thrift Supervision.

How to fill out application for operating subsidiary

How to fill out Application for Operating Subsidiary

1. Begin by downloading the Application for Operating Subsidiary form from the official website.
2. Read the instructions provided at the top of the application form carefully.
3. Fill out the applicant's details including name, address, and contact information.
4. Provide the name of the proposed operating subsidiary and its intended purpose.
5. Include detailed information about the parent company, including its structure and business model.
6. Attach any required documentation such as financial statements, business plans, and licenses.
7. Review all the information for accuracy and completeness.
8. Sign the application form where indicated and date it.
9. Submit the completed application along with any attached documents to the appropriate regulatory body.

Who needs Application for Operating Subsidiary?

1. Businesses looking to expand their operations through a subsidiary.
2. Companies seeking to comply with regulatory requirements for subsidiary formation.
3. Investors wanting to establish a legal entity to operate in a different location.

People Also Ask about

What are financial subsidiaries?

A special type of subsidiary of a US depository institution that is permitted to engage in certain financial activities that its parent depository institution is not permitted to engage in directly. Financial subsidiaries were created under the liberalizing reforms of the Gramm-Leach-Bliley Act.

What is a subsidiary operation?

An operating subsidiary is a subsidiary of a corporation through which the parent company (which may or may not be a holding company) indirectly conducts some portion of its business.

What is the difference between a financial subsidiary and an operating subsidiary?

Financial Subsidiaries A financial subsidiary is any company that is controlled by one or more insured depository institutions, other than a subsidiary that is an operating subsidiary or statutory subsidiary, that engages in activities that are financial in nature or incidental to a financial activity.

What is a banking subsidiary?

A subsidiary bank is a type of foreign entity that is located and incorporated in a foreign country but is majority-owned by a parent corporation in a different nation. Subsidiary banks only have to operate under the laws and regulations of the host country.

Is an operating company a subsidiary?

In a typical holding company structure, the subsidiary companies do manufacture, sell, or otherwise conduct business. These are called operating companies. Other subsidiary companies hold real estate, intellectual properties, vehicles, equipment, or anything else of value that is used by the operating companies.

Can banks make equity investments?

National banks and FSAs may also make equity investments in other business entities that perform bank-permissible activities. National banks may make these investments through their other equity investment authority, and FSAs may do so through their pass-through investment authority.

What are the limits for public welfare investments?

Under 12 CFR 160.30, which covers the general lending and investment powers of FSAs, an FSA's aggregate community development loans and equity investments may not exceed 5 percent of its total assets. Within that limitation, an FSA's aggregate equity investments may not exceed 2 percent of its total assets.

What is the difference between subsidiaries and subsidiary?

A subsidiary may itself have subsidiaries, and these, in turn, may have subsidiaries of their own. A parent and all its subsidiaries together are called a corporate, although this term can also apply to cooperating companies and their subsidiaries with varying degrees of shared ownership.

For pdfFiller’s FAQs

What is Application for Operating Subsidiary?

The Application for Operating Subsidiary is a formal request submitted to regulatory authorities by a company that seeks to establish a subsidiary that will conduct business operations.

Who is required to file Application for Operating Subsidiary?

Companies intending to create an operating subsidiary for conducting business activities, particularly in regulated industries, are generally required to file this application.

How to fill out Application for Operating Subsidiary?

To fill out the Application for Operating Subsidiary, a business must provide detailed information about the proposed subsidiary, including its structure, operations, management, and financial plan, often following a specific format provided by the regulatory body.

What is the purpose of Application for Operating Subsidiary?

The purpose of the Application for Operating Subsidiary is to gain approval from regulatory authorities to establish a subsidiary that complies with legal and industry regulations while ensuring it can effectively operate within the market.

What information must be reported on Application for Operating Subsidiary?

The Application for Operating Subsidiary must typically report information including the name of the subsidiary, business address, ownership structure, proposed activities, management details, financial projections, and compliance with relevant regulations.