Definitions.

CFR · 2024-01-01 · US · Title 12

For purposes of this part: (1) Directly or indirectly, or acting through one or more other persons, owns, controls, or has the power to vote twenty-five (25) percent or more of the outstanding shares of any class of voting securities of the other entity, including shares of common or preferred stock, general or limited partnership shares or interests, or similar interests that entitle the holder: (i) To vote for or to select directors, trustees, or partners (or individuals exercising similar functions) of that entity; or (ii) To vote on or to direct the conduct of the operations or other significant policies of that entity; (2) Controls in any manner the election of a majority of the directors, trustees, or general partners (or individuals exercising similar functions) of the other entity; or (3) Otherwise has the power to exercise, directly or indirectly, a controlling influence over the management or policies of the other entity through a management agreement, common directors or management officials, or by any other means. (1) In the case of an insured depository institution or a CDFI credit union, an appropriate Federal banking agency or appropriate State regulator, as applicable; or (2) In the case of an insurance company, an appropriate State regulator accredited by the NAIC. (1) The deposits of which are insured under the Federal Deposit Insurance Act (12 U.S.C. 1811 (2) The total assets of which, as of the date of a particular transaction, are less than the CFI asset

official document · source cfr-2024 · id 12:§ 1263.1