Does the FDIC require that a certain percentage of investors be bound by the terms of the Statement of Policy? If so, what is the requirement?
The Statement of Policy is designed, in part, to ensure that the ownership and management of insured depository institutions remain stable to provide guidance and continuity for safe and sound operation of the bank or thrift. To help accomplish this goal, Investors holding a minimum of one-third of the total voting equity shares or total equity shares of an acquired institution or its bank or thrift holding company must be bound by the terms of the Statement of Policy.
