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This document summarizes a court case regarding a petition by NCNB Corporation to the Board of Governors of the Federal Reserve System seeking permission to retain ownership of two subsidiaries, Superior Insurance Company and Superior Claims Service, under section 4(c)(8) of the Bank Holding Company Act. The Board denied the petition, finding NCNB failed to demonstrate the activities were closely related to banking. NCNB argued the application should be granted due to the Board failing to act within the req

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Scribd Government Docs

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