12 CFR 575.2 - Definitions.

§ 575.2 Definitions.
As used in this part, the following definitions apply, unless specified elsewhere in this part:
(a) The terms associate and tax-qualified employee stock benefit plan have the meanings set forth in § 563b.25 of this chapter.
(b) The terms acting in concert, affiliate, company, person, and savings association have the meanings set forth in § 574.2 of this chapter.
(c) The term acquiree association means any savings association, other than a resulting association, that:
(1) Is acquired by a mutual holding company as part of, and concurrently with, a mutual holding company reorganization; and
(2) Is in the mutual form immediately prior to such acquisition.
(d) The term control has the same meaning as specified in § 574.4 of this chapter.
(e) The term default means any adjudication or other official determination of a court of competent jurisdiction or other public authority pursuant to which a conservator, receiver, or other legal custodian is appointed for a mutual holding company or savings association subsidiary of a mutual holding company.
(f) The term insider means any officer or director of a company or of any affiliate of such company, and any person acting in concert with any such officer or director.
(g) The term member means any depositor or borrower of a mutual savings association that is entitled, under the charter of the savings association, to vote on matters affecting the association, and any depositor or borrower of a savings association subsidiary of a mutual holding company that is entitled, under the charter of the mutual holding company, to vote on matters affecting the mutual holding company.
(h) The term mutual holding company means a mutual holding company organized under this part, and unless otherwise indicated, a subsidiary holding company controlled by a mutual holding company, organized under this part.
(i) The term parent has the same meaning as the term parent company specified at § 583.15 of this chapter.
(j) The term Reorganization Notice means a notice of a proposed mutual holding company reorganization that is in the form and contains the information required by the OTS.
(k) The term Reorganization Plan means a plan to reorganize into the mutual holding company format containing the information required by § 575.6 of this part.
(l) The term reorganizing association means a mutual savings association that proposes to reorganize to become a mutual holding company pursuant to this part.
(m) The term resulting association means a savings association in the stock form that is organized as a subsidiary of a reorganizing association to receive the substantial part of the assets and liabilities (including all deposit accounts) of the reorganizing association upon consummation of the reorganization.
(n) The term stock means common or preferred stock, or any other type of equity security, including (without limitation) warrants or options to acquire common or preferred stock, or other securities that are convertible into common or preferred stock.
(o) The term Stock Issuance Plan means a plan, submitted pursuant to § 575.7 and containing the information required by § 575.8, providing for the issuance of stock by:
(1) A savings association subsidiary of a mutual holding company; or
(2) A subsidiary holding company.
(p) The term subsidiary has the meaning specified at § 583.23 of this chapter.
(q) The term subsidiary holding company means a federally chartered stock holding company, controlled by a mutual holding company, that owns the stock of a savings association whose depositors have membership rights in the parent mutual holding company.
[58 FR 44114, Aug. 19, 1993, as amended at 60 FR 66720, Dec. 26, 1995; 61 FR 60184, Nov. 27, 1996; 63 FR 11365, Mar. 9, 1998; 67 FR 52035, Aug. 9, 2002]

Title 12 published on 2014-01-01

no entries appear in the Federal Register after this date.

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