Definitions.

CFR · 2024-01-01 · US · Title 12

For purposes of this part, the following definitions apply unless otherwise specified: (a) (b) (1) An insured depository institution (as defined in 12 U.S.C. 1813); or (2) A corporation the majority of the shares of which are owned by the United States or by any State. (c)(1) (i) Owns, controls, or has the power to vote 25 percent or more of any class of voting securities of the company or bank; (ii) Controls in any manner the election of a majority of the directors of the company or bank; or (iii) Has the power to exercise a controlling influence over the management or policies of the company or bank. (2) A person is presumed to have control, including the power to exercise a controlling influence over the management or policies, of a company or bank if: (i) The person is: (A) An executive officer or director of the company or bank; and (B) Directly or indirectly owns, controls, or has the power to vote more than 10 percent of any class of voting securities of the company or bank; or (ii)(A) The person directly or indirectly owns, controls, or has the power to vote more than 10 percent of any class of voting securities of the company or bank; and (B) No other person owns, controls, or has the power to vote a greater percentage of that class of voting securities. (3) An individual is not considered to have control, including the power to exercise a controlling influence over the management or policies, of a company or bank solely by virtue of the individual's position as an o

official document · source cfr-2024 · id 12:§ 215.2