Mutual Holding Company

Forms and Documents

Document Name	Status
Form Form 1523 Application for Approval of a Minority Stock Issuance by a Savings Association Subsidiary of a Mutual Holding Company Form and Instruction	New
Form Form 1522 Notice of Mutual Holding Company Reorganization Form and Instruction	Modified
Form1522_1523_201601_83c.pdf Justification for No Material/Nonsubstantive Change	2016-01-18

IC Document Collections

IC ID	Document Title	Status
219598	Application for Approval of a Minority Stock Issuance by a Savings Association Subsidiary of a Mutual Holding Company Form and Instruction	New
19915	Notice of Mutual Holding Company Reorganization Form and Instruction	Modified

ICR Details

OMB Control No: 7100-0340	ICR Reference No: 201601-7100-008
Status: Historical Inactive	Previous ICR Reference No: 201107-7100-009
Agency/Subagency: FRS	Agency Tracking No: Form 1522, Form 1523
Title: Mutual Holding Company
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Withdrawn and continue	Conclusion Date: 01/20/2016
	Date Received in OIRA: 01/19/2016
Terms of Clearance: Withdrawn at agency request.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2016	01/31/2016	01/31/2016
Responses	50	0	50
Time Burden (Hours)	4,132	0	4,132
Cost Burden (Dollars)	0	0	0

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Abstract: Any mutual savings association that wishes to reorganize to form a mutual holding company must submit a notice (Form 1522) to the Federal Reserve. The notice provides details of the reorganization plan, which is to be approved by the majority of the association’s board of directors and any acquired association. Details of the reorganization plan should contain a complete description of all significant terms of the proposed reorganization, shall attach and incorporate any Stock Issuance Plan proposed in connection with the reorganization plan and comply with other informational requirements specified in 12 C.F.R. § 239.6. Any savings association subsidiary or subsidiary holding company of a mutual holding company must file an application (Form 1523) for minority stock issuance. Minority stock issuances applications are required to provide the Federal Reserve with information to determine whether mutual holding companies and their subsidiaries are conducting insider abuse or unsafe and unsound practices.

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Authorizing Statute(s): US Code: 12 USC 1467a(o) Name of Law: Home Owners' Loan Act
   US Code: 12 USC 1467a(o)(7) Name of Law: Home Owners' Loan Act
   US Code: 12 USC 1467a(b)(2) Name of Law: Home Owners' Loan Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 20458	04/12/2011
30-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 36625	06/22/2011
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Notice of Mutual Holding Company Reorganization	Form 1522	Notice of Mutual Holding Company Reorganization
Application for Approval of a Minority Stock Issuance by a Savings Association Subsidiary of a Mutual Holding Company	Form 1523	Application for Approval of a Minority Stock Issuance by a Savings Association Subsidiary of a Mutual Holding Company

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Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The decrease in total annual hours is due to an update in the number of respondents and estimated burden per response.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 01/19/2016

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