12 U.S.C. § 221a : US Code - Section 221A: Additional definitions

Search 12 U.S.C. § 221a : US Code - Section 221A: Additional definitions

As used in this chapter -
(a) The terms "banks", "national bank", "national banking
association", "member bank", "board", "district", and "reserve
bank" shall have the meanings assigned to them in section 221 of
this title.
(b) Except where otherwise specifically provided, the term
"affiliate" shall include any corporation, business trust,
association, or other similar organization -
(1) Of which a member bank, directly or indirectly, owns or
controls either a majority of the voting shares or more than 50
per centum of the number of shares voted for the election of its
directors, trustees, or other persons exercising similar
functions at the preceding election, or controls in any manner
the election of a majority of its directors, trustees, or other
persons exercising similar functions; or
(2) Of which control is held, directly or indirectly, through
stock ownership or in any other manner, by the shareholders of a
member bank who own or control either a majority of the shares of
such bank or more than 50 per centum of the number of shares
voted for the election of directors of such bank at the preceding
election, or by trustees for the benefit of the shareholders of
any such bank; or
(3) Of which a majority of its directors, trustees, or other
persons exercising similar functions are directors of any one
member bank; or
(4) Which owns or controls, directly or indirectly, either a
majority of the shares of capital stock of a member bank or more
than 50 per centum of the number of shares voted for the election
of directors of a member bank at the preceding election, or
controls in any manner the election of a majority of the
directors of a member bank, or for the benefit of whose
shareholders or members all or substantially all the capital
stock of a member bank is held by trustees.