minority

(12) Acquisition of minority bank by minority bank holding company without regard to asset size.— (A) In general .— For the purpose of ensuring continued minority control of a minority-controlled bank, paragraphs (2) and (3) shall apply with respect to the acquisition of a minority-controlled bank by an out-of-State minority-controlled depository institution or depository institution holding company without regard to the fact that the total assets of such minority-controlled bank are less than $500,000,000. (B) Definitions .— For purposes of this paragraph: (i) Minority bank .— The term “minority bank” means any depository institution described in clause (i), (ii), or (iii) of section 461(b)(1)(A) of this title — (I) more than 50 percent of the ownership or control of which is held by one or more minority individuals; and (II) more than 50 percent of the net profit or loss of which accrues to minority individuals. (ii) Minority .— The term “minority” means any Black American, Native American, Hispanic American, or Asian American.

Source

12 USC § 1823(f)(12)


Scoping language

For purposes of this paragraph
Is this correct? or