Savings Association Sample Clauses
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Savings Association. The Buyer (a) is a savings association, building and loan association, cooperative bank, homestead association or similar institution, which is supervised and examined by a State or Federal authority having supervision over any such institutions or is a foreign savings and loan association or equivalent institution and (b) has an audited net worth of at least $25,000,000 as demonstrated in its latest annual financial statements.
Savings Association. For purposes of this part, the term ‘‘savings associa- tion’’ includes any savings association, and any service corporation that is wholly owned by one or more savings association, that engages in the busi- ness of providing credit to consumers.