33.24.350 - Acquisition of control of association -- Definitions.

Acquisition of control of association — Definitions.

Unless the context requires otherwise, the definitions in this section apply throughout this chapter.

     (1) "Subsidiary" of a person or other entity means any person or other entity which is controlled by such person or other entity.

     (2) "Control" means directly or indirectly or acting in concert with one or more other persons or entities, or through one or more subsidiaries, owning, controlling, or holding with the power to vote twenty-five percent or more of the voting rights of an association.

     (3) "Acquiring party" means the person or other entity acquiring control of a savings and loan association.

[1982 c 3 § 53; 1973 c 130 § 1.]

Notes: Severability -- 1982 c 3: See note following RCW 33.04.002.

Severability -- 1973 c 130: "If any provision of this 1973 amendatory act, or its application to any person or circumstance is held invalid, the remainder of the act, or the application of the provision to other persons or circumstances is not affected." [1973 c 130 § 32.]