§ 4924 Conversion Approval Application

• •If a bank wants to change its type (like from a small bank to a big bank), it has to ask for permission first.
• •The bank must send a special request to the person in charge (the commissioner).
• •This rule started in 1997.

A small local bank wants to become a big national bank.

The small bank must fill out a form and send it to the commissioner to ask if it’s okay to change.