(a) OTS action. Within 30 calendar days after the filing date of your application, OTS will take one of the following actions: ------------------------------------------------------------------------
(1) Notifies you, in writing, that your The applicable review period
application is complete * * *. will begin on the date that
OTS deems your application
complete.(2) Notifies you, in writing, that you You must submit the required
must submit addition information to additional information
complete your application * * *. under Sec. 516.220.(3) Notifies you, in writing, that your OTS will not process your
application is materially deficient * * *. application.(4) Takes no action * * *................. Your application is deemed
complete. The applicable
review period will begin on
the day the 30-day time
period expires.------------------------------------------------------------------------
(b) Waiver requests. If your application includes a request for waiver of an information requirement under Sec. 516.25(b), and OTS has not notified you that you must submit additional information under paragraph (a)(2) of this section, your request for waiver is granted.