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NCNB CORP. v. BOARD OF GOVERNORS OF FED. RESERVE SYS.

No. 78-1363.

599 F.2d 609 (1979)

NCNB CORPORATION, Petitioner, v. The BOARD OF GOVERNORS OF the FEDERAL RESERVE SYSTEM, Respondent.

United States Court of Appeals, Fourth Circuit.

Decided June 15, 1979.

Attorney(s) appearing for the Case

Mark A. Weiss, Washington, D. C. (Mary C. Carter, Covington & Burling, Washington, D. C., on brief), for petitioner.

Freddi Lipstein, App. Staff, Civil Division, Dept. of Justice, Washington, D. C. (Barbara Allen Babcock, Asst. Atty. Gen., Ronald R. Glancz, Michael F. Hertz, App. Staff, Civil Division, Dept. of Justice, Neal L. Petersen, Gen. Counsel, J. Virgil Mattingly, Bronwen Mason, Bd. of Governors of the Federal Reserve System, Washington, D. C., on brief), for respondent.

Before WINTER and HALL, Circuit Judges, and KAUFMAN, District Judge.

WINTER, Circuit Judge:

NCNB Corporation (NCNB) petitions for review of an order of the Board of Governors of the Federal Reserve System (Board) refusing NCNB permission to retain ownership of its subsidiaries Superior Insurance Company (Superior Insurance) and Superior Claims Service, Inc. (Superior Claims). Permission was sought pursuant to § 4(c)(8) of the Bank Holding Company Act of 1956, as amended, 12 U.S.C. § 1843(c)(8), but it was denied upon the...

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