; and (2) be subject to the same duties, restrictions, penalties, liabilities, conditions, and limitations that would apply to such a national bank. (d) Treatment of covered savings associations A covered savings association shall be treated as a Federal savings association for the purposes— (1) of governance of the covered savings association, including incorporation, bylaws, boards of directors, shareholders, and distribution of dividends; (2) of consolidation, merger, dissolution, conversion (including conversion to a stock bank or to another charter), conservatorship, and receivership; and (3) determined by regulation of the Comptroller. (e) Existing branches A covered savings association may continue to operate any branch or agency the covered savings association operated on the date on which an election under subsection (b) is approved. (f) Rulemaking The Comptroller shall issue rules to carry out this section— (1) that establish streamlined standards and procedures that clearly identify required documentation or timelines for an election under subsection (b); (2) that require a Federal savings association that makes an election under subsection (b) to identify specific assets and subsidiaries— (A) that do not conform to the requirements for assets and subsidiaries of a national bank; and (B) that are held by the Federal savings association on the date on which the Federal savings association submits a notice of such election; (3) that establish— (A) a transition process for bringing such assets and subsidiaries into conformance with the requirements for a national bank; and (B) procedures for allowing the Federal savings association to provide a justification for grandfathering such assets and subsidiaries after electing to operate as a covered savings association; (4) that establish standards and procedures to allow a covered savings association to terminate an election under subsection (b) after an appropriate period of time or to make a subsequent election