§ 19-7-1 Definitions. – (a) For the purposes of this chapter, the term or terms:
(1) "Bank," "bank holding company," "company," "subsidiary,"and "control" have the meanings set forth in the Federal Bank Holding CompanyAct of 1956, 12 U.S.C. § 1841 et seq., except that "bank" also includesfinancial institutions, as defined in this title, and other forms of federallyinsured deposit-taking institutions and bank holding companies include thriftholding companies as set forth in the Home Owners' Loan Act, 12 U.S.C. §1461 et seq., whether organized with or without capital stock.
(2) "Out-of-state bank" means a bank whose principal officeis located in any other state.
(3) "Out-of-state bank holding company" means a holdingcompany for which the operations of its bank subsidiaries are principallyconducted in any other state.
(4) "Rhode Island bank holding company" means a bank holdingcompany that controls a financial institution, provided that an out-of-statebank or bank holding company that acquired control of one or more financialinstitutions shall not be deemed to be a Rhode Island bank holding company,unless operations of its bank subsidiaries are principally conducted in thisstate.
(b) For the purposes of this chapter, the state in whichoperations of a bank holding company's bank subsidiaries are principallyconducted is the state in which total deposits of all of its bank subsidiariesare the largest.
§ 19-7-1 Definitions. – (a) For the purposes of this chapter, the term or terms:
(1) "Bank," "bank holding company," "company," "subsidiary,"and "control" have the meanings set forth in the Federal Bank Holding CompanyAct of 1956, 12 U.S.C. § 1841 et seq., except that "bank" also includesfinancial institutions, as defined in this title, and other forms of federallyinsured deposit-taking institutions and bank holding companies include thriftholding companies as set forth in the Home Owners' Loan Act, 12 U.S.C. §1461 et seq., whether organized with or without capital stock.
(2) "Out-of-state bank" means a bank whose principal officeis located in any other state.
(3) "Out-of-state bank holding company" means a holdingcompany for which the operations of its bank subsidiaries are principallyconducted in any other state.
(4) "Rhode Island bank holding company" means a bank holdingcompany that controls a financial institution, provided that an out-of-statebank or bank holding company that acquired control of one or more financialinstitutions shall not be deemed to be a Rhode Island bank holding company,unless operations of its bank subsidiaries are principally conducted in thisstate.
(b) For the purposes of this chapter, the state in whichoperations of a bank holding company's bank subsidiaries are principallyconducted is the state in which total deposits of all of its bank subsidiariesare the largest.
§ 19-7-1 Definitions. – (a) For the purposes of this chapter, the term or terms:
(1) "Bank," "bank holding company," "company," "subsidiary,"and "control" have the meanings set forth in the Federal Bank Holding CompanyAct of 1956, 12 U.S.C. § 1841 et seq., except that "bank" also includesfinancial institutions, as defined in this title, and other forms of federallyinsured deposit-taking institutions and bank holding companies include thriftholding companies as set forth in the Home Owners' Loan Act, 12 U.S.C. §1461 et seq., whether organized with or without capital stock.
(2) "Out-of-state bank" means a bank whose principal officeis located in any other state.
(3) "Out-of-state bank holding company" means a holdingcompany for which the operations of its bank subsidiaries are principallyconducted in any other state.
(4) "Rhode Island bank holding company" means a bank holdingcompany that controls a financial institution, provided that an out-of-statebank or bank holding company that acquired control of one or more financialinstitutions shall not be deemed to be a Rhode Island bank holding company,unless operations of its bank subsidiaries are principally conducted in thisstate.
(b) For the purposes of this chapter, the state in whichoperations of a bank holding company's bank subsidiaries are principallyconducted is the state in which total deposits of all of its bank subsidiariesare the largest.
