§ 6.1-194.96. (Repealed effective October 1, 2010) Definitions.
As used in this article and in Article 5 (§ 6.1-194.41 et seq.) of thischapter, unless a different meaning is required by the context, the followingwords or phrases shall have the following meanings:
"Acquire" means:
1. The merger or consolidation of one stock savings institution with anotherstock savings institution or of a savings institution holding company withanother savings institution holding company;
2. The acquisition by a savings institution holding company or savingsinstitution of direct or indirect ownership or control of voting shares ofanother savings institution holding company or a savings institution, if,after such acquisition, the savings institution holding company or savingsinstitution making the acquisition will directly or indirectly own or controlmore than twenty-five percent of any class of voting shares of the othersavings institution holding company or savings institution;
3. The direct or indirect acquisition by a savings institution holdingcompany or by a savings institution of all or substantially all of the assetsof another savings institution holding company or of another savingsinstitution; or
4. Any other action that would result in direct or indirect control by asavings institution holding company or by a savings institution of anothersavings institution holding company or another savings institution.
"Savings institution" shall have the same meaning as set forth in §6.1-194.2.
"Savings institution holding company" shall have the same meaning as setforth in subsection A of § 6.1-194.87.
"Principal place of business of a savings institution" shall be the statein which the largest amount of the deposits of the savings institution(excluding deposits acquired as a result of the kinds of transactionsdescribed in § 6.1-194.100) is located at the end of the last calendar year.
"Principal place of business of a savings institution holding company"shall be the state in which the largest amount of the deposits of the holdingcompany's subsidiaries (excluding deposits acquired as a result of the kindsof transactions described in § 6.1-194.100) is located as of the end of thelast calendar year.
"Out-of-state savings institution" means a savings institution:
1. That is organized under the laws of the United States or of one of thestates other than Virginia; and
2. Whose principal place of business is located in a state other thanVirginia.
"Out-of-state savings institution holding company" means a savingsinstitution holding company that has its principal place of business in astate other than Virginia.
"State" includes the District of Columbia.
"Subsidiary" with respect to a savings institution holding company means:
1. Any company twenty-five percent or more of whose voting shares (excludingshares owned by the United States or by any company wholly owned by theUnited States) is directly or indirectly owned or controlled by such savingsinstitution holding company, or is held by it with power to vote;
2. Any company the election of a majority of whose directors is controlled inany manner by such savings institution holding company; or
3. Any company with respect to the management or policies of which suchsavings institution holding company has the power, directly or indirectly, toexercise a controlling influence, as determined by the Commission, afternotice and opportunity for hearing.
"Virginia savings institution" means a savings institution that:
1. Is organized under the laws of this Commonwealth or of the United States;and
2. Has deposit-taking offices located only in this Commonwealth.
"Virginia savings institution holding company" means a savings institutionholding company:
1. That has its principal place of business in this Commonwealth;
2. Whose financial institution subsidiaries located outside Virginia hold notgreater than twenty percent of the total deposits held by all of itsfinancial institution subsidiaries; and
3. That is not controlled by a savings institution holding company other thana Virginia savings institution holding company.
§ 6.1-194.96. (Repealed effective October 1, 2010) Definitions.
As used in this article and in Article 5 (§ 6.1-194.41 et seq.) of thischapter, unless a different meaning is required by the context, the followingwords or phrases shall have the following meanings:
"Acquire" means:
1. The merger or consolidation of one stock savings institution with anotherstock savings institution or of a savings institution holding company withanother savings institution holding company;
2. The acquisition by a savings institution holding company or savingsinstitution of direct or indirect ownership or control of voting shares ofanother savings institution holding company or a savings institution, if,after such acquisition, the savings institution holding company or savingsinstitution making the acquisition will directly or indirectly own or controlmore than twenty-five percent of any class of voting shares of the othersavings institution holding company or savings institution;
3. The direct or indirect acquisition by a savings institution holdingcompany or by a savings institution of all or substantially all of the assetsof another savings institution holding company or of another savingsinstitution; or
4. Any other action that would result in direct or indirect control by asavings institution holding company or by a savings institution of anothersavings institution holding company or another savings institution.
"Savings institution" shall have the same meaning as set forth in §6.1-194.2.
"Savings institution holding company" shall have the same meaning as setforth in subsection A of § 6.1-194.87.
"Principal place of business of a savings institution" shall be the statein which the largest amount of the deposits of the savings institution(excluding deposits acquired as a result of the kinds of transactionsdescribed in § 6.1-194.100) is located at the end of the last calendar year.
"Principal place of business of a savings institution holding company"shall be the state in which the largest amount of the deposits of the holdingcompany's subsidiaries (excluding deposits acquired as a result of the kindsof transactions described in § 6.1-194.100) is located as of the end of thelast calendar year.
"Out-of-state savings institution" means a savings institution:
1. That is organized under the laws of the United States or of one of thestates other than Virginia; and
2. Whose principal place of business is located in a state other thanVirginia.
"Out-of-state savings institution holding company" means a savingsinstitution holding company that has its principal place of business in astate other than Virginia.
"State" includes the District of Columbia.
"Subsidiary" with respect to a savings institution holding company means:
1. Any company twenty-five percent or more of whose voting shares (excludingshares owned by the United States or by any company wholly owned by theUnited States) is directly or indirectly owned or controlled by such savingsinstitution holding company, or is held by it with power to vote;
2. Any company the election of a majority of whose directors is controlled inany manner by such savings institution holding company; or
3. Any company with respect to the management or policies of which suchsavings institution holding company has the power, directly or indirectly, toexercise a controlling influence, as determined by the Commission, afternotice and opportunity for hearing.
"Virginia savings institution" means a savings institution that:
1. Is organized under the laws of this Commonwealth or of the United States;and
2. Has deposit-taking offices located only in this Commonwealth.
"Virginia savings institution holding company" means a savings institutionholding company:
1. That has its principal place of business in this Commonwealth;
2. Whose financial institution subsidiaries located outside Virginia hold notgreater than twenty percent of the total deposits held by all of itsfinancial institution subsidiaries; and
3. That is not controlled by a savings institution holding company other thana Virginia savings institution holding company.
§ 6.1-194.96. (Repealed effective October 1, 2010) Definitions.
As used in this article and in Article 5 (§ 6.1-194.41 et seq.) of thischapter, unless a different meaning is required by the context, the followingwords or phrases shall have the following meanings:
"Acquire" means:
1. The merger or consolidation of one stock savings institution with anotherstock savings institution or of a savings institution holding company withanother savings institution holding company;
2. The acquisition by a savings institution holding company or savingsinstitution of direct or indirect ownership or control of voting shares ofanother savings institution holding company or a savings institution, if,after such acquisition, the savings institution holding company or savingsinstitution making the acquisition will directly or indirectly own or controlmore than twenty-five percent of any class of voting shares of the othersavings institution holding company or savings institution;
3. The direct or indirect acquisition by a savings institution holdingcompany or by a savings institution of all or substantially all of the assetsof another savings institution holding company or of another savingsinstitution; or
4. Any other action that would result in direct or indirect control by asavings institution holding company or by a savings institution of anothersavings institution holding company or another savings institution.
"Savings institution" shall have the same meaning as set forth in §6.1-194.2.
"Savings institution holding company" shall have the same meaning as setforth in subsection A of § 6.1-194.87.
"Principal place of business of a savings institution" shall be the statein which the largest amount of the deposits of the savings institution(excluding deposits acquired as a result of the kinds of transactionsdescribed in § 6.1-194.100) is located at the end of the last calendar year.
"Principal place of business of a savings institution holding company"shall be the state in which the largest amount of the deposits of the holdingcompany's subsidiaries (excluding deposits acquired as a result of the kindsof transactions described in § 6.1-194.100) is located as of the end of thelast calendar year.
"Out-of-state savings institution" means a savings institution:
1. That is organized under the laws of the United States or of one of thestates other than Virginia; and
2. Whose principal place of business is located in a state other thanVirginia.
"Out-of-state savings institution holding company" means a savingsinstitution holding company that has its principal place of business in astate other than Virginia.
"State" includes the District of Columbia.
"Subsidiary" with respect to a savings institution holding company means:
1. Any company twenty-five percent or more of whose voting shares (excludingshares owned by the United States or by any company wholly owned by theUnited States) is directly or indirectly owned or controlled by such savingsinstitution holding company, or is held by it with power to vote;
2. Any company the election of a majority of whose directors is controlled inany manner by such savings institution holding company; or
3. Any company with respect to the management or policies of which suchsavings institution holding company has the power, directly or indirectly, toexercise a controlling influence, as determined by the Commission, afternotice and opportunity for hearing.
"Virginia savings institution" means a savings institution that:
1. Is organized under the laws of this Commonwealth or of the United States;and
2. Has deposit-taking offices located only in this Commonwealth.
"Virginia savings institution holding company" means a savings institutionholding company:
1. That has its principal place of business in this Commonwealth;
2. Whose financial institution subsidiaries located outside Virginia hold notgreater than twenty percent of the total deposits held by all of itsfinancial institution subsidiaries; and
3. That is not controlled by a savings institution holding company other thana Virginia savings institution holding company.
