executive officer

(ii)The term “company” does not include— (I)an insured depository institution (as defined insection 1813 of this title); or (II)a corporation the majority of the shares of which are owned by the United States or by any State. (B)A person controls a company or bank if that person, directly or indirectly, or acting through or in concert with 1 or more persons— (i)owns, controls, or has the power to vote 25 percent or more of any class of the company’s voting securities; (ii)controls in any manner the election of a majority of the company’s directors; or (iii)has the power to exercise a controlling influence over the company’s management or policies. (C)A person is an “executive officer” of a company or bank if that person participates or has authority to participate (other than as a director) in major policymaking functions of the company or bank. (D) (i)A member bank extends credit to a person by— (I)making or renewing any loan, granting a line of credit, or entering into any similar transaction as a result of which the person becomes obligated (directly or indirectly, or by any means whatsoever) to pay money or its equivalent to the bank; or (II)having credit exposure to the person arising from a derivative transaction (as defined insection 84(b) of this title), repurchase agreement, reverse repurchase agreement, securities lending transaction, or securities borrowing transaction between the member bank and the person. (ii)The Board may, by regulation, make exceptions to clause (i) for transactions that the Board determines pose minimal risk.


12 USC § 375b(9)(A)(ii)

Scoping language

For purposes of this section
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