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Microcap & Penny Stocks : PanAmerican BanCorp (PABN) -- Ignore unavailable to you. Want to Upgrade?

To: Russ Howard who wrote (37511)	6/4/1999 10:42:00 PM
From: jhild	Read Replies (1) \| Respond to of 43774

The oath that the Directors and Organizers of the Thrift must take: 2. Without limitation and recognizing that the following list is only a summary of certain of the regulations with which I am bound to comply, and that I likewise will comply equally with all other regulatory requirements imposed by the OTS and FDIC, I acknowledge that I am subject to the requirements of: Section 563.41 of the Regulations which provides that a savings association and its subsidiaries may engage in covered transactions with an affiliate only if the transaction is permitted under Section 23A of the Federal Reserve Act, and the additional restrictions set forth as follows: (1) the aggregate amount of covered transactions to any affiliate shall not exceed 10% of the savings association's capital stock and surplus; and shall not exceed 20% to all affiliates; (2) no loan or extension of credit may be made to any affiliate unless such affiliate is engaged in activities described in Section 10(c)(2)(F)(i) of the Home Owners' Loan Act; (3) a savings association and its subsidiaries may not purchase or invest in the securities of any affiliate other than with respect to shares of a subsidiary which, for the purposes of this section, shall include a bank and a savings association; (4) a savings association and its subsidiaries may not purchase low quality assets from an affiliate unless the association or subsidiary, pursuant to an independent credit evaluation, committed to purchase the asset prior to the time the asset was acquired by the affiliate, and (5) any covered transaction exempt under 563.41(d) and Section 23A(d) of the Federal Reserve Act, shall be on terms and conditions that are consistent with safe and sound banking practices. http://www.ots.treas.gov/docs/78001.pdf What this means is that there will be very little liquidity available to the affiliates of the PABN/PRWT family of enterprises as a result of their "banking activities". That is assuming of course that they actually can turn a profit on this aspectof the business.