Definitions.

CFR · 2024-01-01 · US · Title 12

For the purposes of this subpart: (a) An affiliate of an insured state nonmember bank means: (1) Any entity of which the insured state nonmember bank is a direct or indirect subsidiary or which otherwise controls the insured state nonmember bank; (2) Any organization which is a direct or indirect subsidiary of such entity or which is otherwise controlled by such entity; or (3) Any other organization that is a direct or indirect subsidiary of the insured state nonmember bank or is otherwise controlled by the insured state nonmember bank. (b) Control means the ability to control in any manner the election of a majority of an organization's directors or trustees; or the ability to exercise a controlling influence over the management and policies of an organization. An insured state nonmember bank is deemed to control an organization of which it is a general partner or its affiliate is a general partner. (c) Domestic means United States. (d) Eligible insured state nonmember bank means an eligible depository institution as defined in § 303.2(r) of this chapter. (e) Equity interest means any ownership interest or rights in an organization, whether through an equity security, contribution to capital, general or limited partnership interest, debt or warrants convertible into ownership interests or rights, loans providing profit participation, binding commitments to acquire any such items, or some other form of business transaction. (f) Equity security means voting or nonvoting shares

official document · source cfr-2024 · id 12:§ 347.102