Section 5-14A-2 Definitions.
Section 5-14A-2
Definitions.
For the purposes of this chapter, the following words and phrases shall have the following meanings unless the context indicates otherwise:
(1) ACQUIRE:
a. The merger or consolidation of one savings institution with another savings institution, or a savings and loan holding company with another savings and loan holding company;
b. The acquisition of the direct or indirect ownership or control of voting shares of a savings institution or savings and loan holding company if, after the acquisition, the acquiring savings institution or savings and loan holding company will directly or indirectly own or control more than five percent of any class of voting shares of the acquired savings institution or savings and loan holding company;
c. The direct or indirect acquisition of all or substantially all of the assets of a savings institution or savings and loan holding company; and
d. The taking of any other action that would result in the direct or indirect control of a savings institution or savings and loan holding company;
(2) BRANCH OFFICE. Any office at which a savings institution accepts deposits. The term branch office does not include:
a. Unmanned automatic teller machines, point-of-sale terminals, or similar unmanned electronic banking facilities at which deposits may be accepted;
b. Offices located outside the United States; and
c. Loan production offices, representative offices, service corporation offices, or other offices at which deposits are not accepted;
(3) COMMISSIONER. The Savings and Loan Commissioner;
(4) COMPANY. That which is set forth in the Federal Savings and Loan Holding Company Act, 12 U.S.C. §1730a(a)(1)(C), as amended;
(5) CONTROL. That which is set forth in the Federal Savings and Loan Holding Company Act, 12 U.S.C. §1730a(a)(2), as amended;
(6) DEPOSITS. All demand, time, and savings deposits, without regard to the location of the depositor; provided, however, that "deposits" shall not include any deposits by savings institutions. For purposes of this chapter, determination of deposits shall be made with reference to regulatory reports of condition or similar reports made by or to state and federal regulatory authorities;
(7) FEDERAL SAVINGS INSTITUTION. A savings institution chartered by the Federal Home Loan Bank Board pursuant to the Home Owners' Loan Act of 1933, U.S.C. §1464, as amended;
(8) PRINCIPAL PLACE OF BUSINESS OF A SAVINGS INSTITUTION. The state in which the home office of the savings institution is located. For the purposes of this chapter, the principal place of business of a savings and loan holding company is the state in which its home office is located.
(9) SAVINGS AND LOAN HOLDING COMPANY. Any company which directly or indirectly controls a savings institution or controls any other company which is a savings and loan holding company;
(10) SAVINGS INSTITUTION. A mutual or capital stock savings and loan association, building and loan association or savings bank chartered under the laws of any one of the states or by the Federal Home Loan Bank Board, pursuant to the Home Owners' Loan Act of 1933, 12 U.S.C. §1464, as amended, and insured by the Federal Savings and Loan Insurance Corporation (F.S.L.I.C.);
(11) SERVICE CORPORATION. Any corporation, the majority of the capital stock of which is owned by one or more savings institutions and which engages, directly or indirectly, in any activities which may be engaged in by a service corporation in which a savings institution may invest under the laws of the states or under the laws of the United States;
(12) SOUTHERN REGION SAVINGS INSTITUTION. A savings institution other than an Alabama savings institution organized under the laws of one of the southern region states or under the laws of the United States and that:
a. Has its principal place of business only in a southern region state other than Alabama;
b. Which if controlled by an organization, the organization is either a southern region savings institution or a southern region savings and loan holding company; and
c. More than 80 percent of its total deposits, other than deposits located in branch offices acquired pursuant to Section 123 of the Garn-St. Germain Depository Institutions Act of 1982 [12 U.S.C. §1730a(m)] or comparable state law, are in its branch offices located in one or more of the southern region states;
(13) SOUTHERN REGION SAVINGS AND LOAN HOLDING COMPANY. A savings and loan holding company that:
a. Has its principal place of business in a southern region state other than the State of Alabama;
b. Has total deposits of its southern region savings institutions' subsidiaries and Alabama savings institutions' subsidiaries that exceed 80 percent of the total deposits of all savings institutions' subsidiaries of the savings and loan holding company other than those savings institutions' subsidiaries held pursuant to Section 123 of the Garn-St. Germain Depository Institutions Act of 1982 [12 U.S.C. §1730a(m)] or comparable state law;
(14) SOUTHERN REGION STATES. The States of Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, West Virginia and the District of Columbia;
(15) STATE. Any state of the United States and the District of Columbia;
(16) STATE SAVINGS INSTITUTION. An association organized under the laws of one of the states;
(17) SUBSIDIARY. That which is set forth in the National Housing Act, 12 U.S.C. §1730a(a)(1)(H), as amended;
(18) ALABAMA SAVINGS INSTITUTION. A savings institution organized under the laws of the State of Alabama or under the laws of the United States and that:
a. Has its principal place of business in the State of Alabama;
b. Which if controlled by an organization, the organization is either an Alabama savings institution, southern region savings institution, Alabama savings and loan holding company, or a southern region savings and loan holding company; and
c. More than 80 percent of its total deposits other than deposits located in branch offices acquired pursuant to Section 123 of the Garn-St. Germain Depository Institutions Act of 1982 [12 U.S.C. §1730a(m)] or comparable state law, are in its branch offices located in one or more of the southern region states; and
(19) ALABAMA SAVINGS AND LOAN HOLDING COMPANY. A savings and loan holding company that:
a. Has its principal place of business in the State of Alabama;
b. Has total deposits of its southern region savings institutions' subsidiaries and Alabama savings institutions' subsidiaries that exceed 80 percent of the total deposits of all savings institutions' subsidiaries of the savings and loan holding company other than those savings institutions' subsidiaries held pursuant to Section 123 of the Garn-St. Germain Depository Institutions Act of 1982 [12 U.S.C. §1730a(m)] or comparable state law.
(Acts 1987, No. 87-152, p. 207, §2.)