TRANSACTIONS BETWEEN AFFILIATES. (1) The Bank may, directly or indirectly, pay money or its equivalent to or for the benefit of, or extend credit in any form to or for the benefit of, its affiliates, or transfer assets between the Bank and its affiliates, or enter into or engage in any transaction that obligates the Bank to do the same only after: (a) the Board has conducted an independent review of the action, which review is documented in writing; and, (b) the Board has determined in writing that it is advantageous for the Bank to engage in such action, and that the action complies with all applicable laws, rules, regulations, and Comptroller’s issuances, including, but not limited to 12 C.F.R. Part 223. (2) For purposes of this Article, “affiliate” shall have the meaning set forth in and 12 C.F.R. Part 223.
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Samples: Banking Compliance Agreement, Banking Compliance Agreement (Community Capital Bancshares Inc), Agreement Between Albany Bank and Trust, n.a. And the Comptroller of the Currency (Community Capital Bancshares Inc)
