12 CFR §26.6

1. (a)Exemption. The OCC may by order issued following receipt of an application, exempt an interlock from the prohibitions in § 26.3 if the OCC finds that the interlock would not result in a monopoly or substantial lessening of competition and would not present safety and soundness concerns.
2. (b)Presumptions. In reviewing an application for an exemption under this section, the OCC will apply a rebuttable presumption that an interlock will not result in a monopoly or substantial lessening of competition if the depository organization seeking to add a management official:
   1. (1)Primarily serves low-and moderate-income areas;
   2. (2)Is controlled or managed by persons who are members of a minority group, or women;
   3. (3)Is a depository institution that has been chartered for less than two years; or
   4. (4)Is deemed to be in “troubled condition” as defined in 12 CFR 5.51(c)(7).
3. (c)Duration.
   1. (1)Unless a specific expiration period is provided in the OCC approval, an exemption permitted by paragraph (a) of this section may continue so long as it does not result in either:
      1. (i)A monopoly or substantial lessening of competition; or
      2. (ii)An unsafe or unsound condition.
   2. (2)If the OCC grants an interlock exemption in reliance upon a presumption under paragraph (b) of this section, the interlock may continue for three years, unless otherwise provided by the OCC in writing.