Voluntary Liquidation - Liquidation Plan

Office of the Comptroller of the Currency
OMB no. 1557-0014
Expiration date: See www.occ.gov

Voluntary Liquidation
Liquidation Plan
General Information and Instructions
Preparation and Use
This notice is used to comply with the submission of a liquidation plan pursuant to
12 CFR 5.48(e)(2).
All questions must be answered with complete and accurate information that is subject to
verification. If the answer is “none,” “not applicable,” or “unknown,” so state. Answers of
“unknown” should be explained.
The questions in the notice are not intended to limit the applicant’s presentation nor are the
questions intended to duplicate information supplied on another form or in an exhibit. For such
information, a cross reference to the information is acceptable. Any cross-reference must be
made to a specific cite or location in the documents, so the information can be found easily.
Supporting information for all relevant factors, setting forth the basis for the applicant’s
conclusions, should accompany the application. The regulatory agency may request additional
information.
This notice form collects information that the Office of the Comptroller of the Currency (OCC)
will need to evaluate a voluntary liquidation plan. The OCC must consider the applicable
regulatory requirements, when acting on the voluntary liquidation plan. For additional
information regarding the regulatory requirements, as well as processing procedures and
guidelines and any supplemental information that may be required, refer to the OCC’s procedural
guidelines in the Comptroller’s Licensing Manual. The applicant may contact the OCC directly
for specific instruction or visit the OCC’s Web site at www.occ.gov.
Submission
In addition to an original and the appropriate number of signed copies, submit an electronic copy
of the information, especially of the business plan’s financial projections, if applicable. For email submissions, contact the OCC for instructions and information about secure transmission of
confidential material.
Confidentiality
Any applicant desiring confidential treatment of specific portions of the notice must submit a
request in writing with the notice. The request must discuss the justification for the requested
treatment. The applicant’s reasons for requesting confidentiality should specifically demonstrate
the harm (for example, loss of competitive position, invasion of privacy) that would result from
public release of information (5 USC 552 or relevant state law). Information for which
confidential treatment is requested should be (1) specifically identified in the public portion of
1

the notice (by reference to the confidential section); (2) separately bound; and (3) labeled
“Confidential.” The applicant should follow the same procedure when requesting confidential
treatment for the subsequent filing of supplemental information to the notice. Contact the OCC
for any further questions regarding requests for confidential treatment.

2

Voluntary Liquidation
Liquidation Plan
Applicant
_____________________________________________________________________
Name
Charter no.
_____________________________________________________________________
Current street address
_____________________________________________________________________
City
County
State
Zip code

Parent Company Identifying Information (if applicable)
_____________________________________________________________________
Name
_____________________________________________________________________
Street
_____________________________________________________________________
City
State
Zip code
Contact Person
_____________________________________________________________________
Name
Title
_____________________________________________________________________
Employer
_____________________________________________________________________
Street
_____________________________________________________________________
City
State
Zip code
_____________________________________________________________________
Telephone no.
Fax no.
E-mail address
1. Overview
As indicated in the preliminary notice of voluntary liquidation dated (date of notice), the
applicant is proceeding with the voluntary liquidation.
2. After a national bank or federal savings association provides preliminary notice under
12 CFR 5.48(e)(1), if the bank or savings association decides to proceed with the liquidation,
it must submit a voluntary liquidation plan to the OCC. The national bank or federal savings
association must receive the OCC’s supervisory non-objection to the liquidation plan before
commencing liquidation.

3

In reviewing a proposed liquidation plan, the OCC will consider the following:
a. The purpose of the liquidation.
b. Its impact on the safety and soundness of the national bank or federal savings
association.
c. Its impact on the bank’s or savings association’s depositors, other creditors, and
customers.
For national banks, the OCC will review the liquidation plan for compliance with
12 USC 181 and 12 USC 182. For federal mutual savings associations, the OCC will also
consider the advisability of, and alternatives to, liquidation and the effect of liquidation on all
concerned.
3. Other information
a. Applicant certifies that, on the date of this letter, the institution’s total assets
exceed its total liabilities, including contingent liabilities.
b. Once the (board of directors/shareholders/members) have voted to liquidate, the
applicant will proceed to liquidate in accordance with 12 CFR 5.48.

4

OCC CERTIFICATION
I certify that the bank’s board of directors, shareholders or a designated official has
authorized the filing of this notice. I certify that the information contained in this notice has
been examined carefully and is true, correct, complete and current as of the date of this
submission.
I acknowledge that any misrepresentation or omission of a material fact with respect to this
notice, any attachments to it, and any other documents or information provided in connection
with this notice may be grounds for the OCC to require cessation of the proposed activity, and
may subject the undersigned to legal sanctions, including the criminal sanctions provided for in
Title 18 of the United States Code.
I acknowledge that the activities and communications by OCC employees in connection with the
filing do not constitute a contract, express or implied, or any other obligation binding upon the
OCC, the United States, any agency or entity of the United States, or any officer or employee of
the United States, and do not affect the ability of the OCC to exercise its supervisory, regulatory
and examination authorities under applicable law and regulations. I further acknowledge that the
foregoing may not be waived or modified by any employee or agent of the OCC or the United
States.

_______________________________________
President or other authorized officer
_______________________________________
Typed name
_______________________________________
Title
_______________________________________
Employer

5