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U.S. Code as of:
01/19/04
Section 3201. Definitions
As used in this chapter -
(1) the term "depository institution" means a commercial bank,
a savings bank, a trust company, a savings and loan association,
a building and loan association, a homestead association, a
cooperative bank, an industrial bank, or a credit union;
(2) the term "depository holding company" means a bank holding
company as defined in section 1841(a) of this title, a company
which would be a bank holding company as defined in section
1841(a) of this title but for the exemption contained in
subsection (a)(5)(F) thereof, or a savings and loan holding
company as defined in section 1730a(a)(1)(D) (!1) of this title;
(3) the characterization of any corporation (including
depository institutions and depository holding companies), as an
"affiliate of," or as "affiliated" with any other corporation
means that -
(A) one of the corporations is a depository holding company
and the other is a subsidiary thereof, or both corporations are
subsidiaries of the same depository holding company, as the
term "subsidiary" is defined in either section 1841(d) of this
title in the case of a bank holding company or section
1730a(a)(1)(H) (!1) of this title in the case of a savings and
loan holding company; or
(B) more than 25 percent of the voting stock of one
corporation is beneficially owned in the aggregate by one or
more persons who also beneficially own in the aggregate more
than 25 percent of the voting stock of the other corporation;
or
(C) one of the corporations is a trust company all of the
stock of which, except for directors qualifying shares, was
owned by one or more mutual savings banks on November 10, 1978,
and the other corporation is a mutual savings bank; or
(D) one of the corporations is a bank, insured by the Federal
Deposit Insurance Corporation and chartered under State law,
and is a bankers' bank, described in Paragraph Seventh of
section 24 of this title; or
(E) one of the corporations is a bank, chartered under State
law and insured by the Federal Deposit Insurance Corporation,
the voting securities of which are held only by persons who are
officers of other banks, as permitted by State law, and which
bank is primarily engaged in providing banking services for
other banks and not the public: Provided, however, That in no
case shall the voting securities of such corporation be held by
such officers of other banks in excess of 6 per centum of the
paid-in capital and 6 per centum of the surplus of such a
bank.(!2)
(4) the term "management official" means an employee or officer
with management functions, a director (including an advisory or
honorary director, except in the case of a depository institution
with total assets of less than $100,000,000), a trustee of a
business organization under the control of trustees, or any
person who has a representative or nominee serving in any such
capacity: Provided, That if a corporator, trustee, director, or
other officer of a State-chartered savings bank or cooperative
bank is specifically authorized under the laws of the State in
which said institution is located to serve as a trustee,
director, or other officer of a State-chartered trust company
which does not make real estate mortgage loans and does not
accept savings deposits from natural persons, then, for the
purposes of this chapter, such corporator, trustee, director, or
other officer shall not be deemed to be a management official of
such trust company: And provided further, That if a management
official of a State-chartered trust company which does not make
real estate mortgage loans and does not accept savings deposits
from natural persons is specifically authorized under the laws of
the State in which said institution is located to serve as a
corporator, trustee, director, or other officer of a
State-chartered savings bank or cooperative bank, then, for the
purposes of this chapter, such management official shall not be
deemed to be a management official of any such savings bank or
cooperative bank;
(5) the term "office" used with reference to a depository
institution means either a principal office or a branch; and
(6) the term "appropriate Federal depository institutions
regulatory agency" means, with respect to any depository
institution or depository holding company, the agency referred to
in section 3207 of this title in connection with such institution
or company.
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