Mutual Institution definition

Mutual Institution means a savings institution, other than a credit union, that is organized in a nonstock business form. All depositors in a mutual institution have a share in the ownership of the institution, according to the amounts of their deposits.
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Mutual Institution means a mutual savings bank, federal mutual savings bank, mutual savings and loan association or federal mutual savings and loan association;
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Examples of Mutual Institution in a sentence

  • Mutual Institution Rights Your funds may be placed in a Deposit Account at a Destination Institution that is in the mutual form of organization.

  • These institutions apply the corresponding prudential supervision rules and are overseen by the competent supervisory commission (commission des contrôles), either by the Insurance Supervisory Commission (Commission de Contrôle des Assurances) or by the Provident and Mutual Institution Supervisory Commission (Commission de Contrôle des Institutions de Prévoyance et des Mutuelles).

  • Second, there are also a small number of supplementary or “supra-complementary” retirement insurance institutions, which are likewise supervised by the Provident and Mutual Institution Supervisory Commission.

  • It is possible that the Mutual Institution also may send notice of its intention to convert to a stock institution, and provide for priority, nontransferable subscription rights for depositor members of the Mutual Institution to purchase stock in the conversion.

  • Mutual Institution Rights Your funds may be placed in a CD at a Destination Institution that is in the mutual form of organization.

  • Producer is properly licensed (and appointed where and when required) to transact business in accordance with the insurance laws, rules and regulations of each state in which Producer transacts business.

  • Because your CD will be identified on the books of the Mutual Institution in the name of the sub-custodian and not in your name, you will not be entitled to exercise any subscription right to purchase the stock, or to vote on the conversion.

  • Our Reasons for the Corporate Change As a Mutual Institution: - There is no authority to issue capital stock and thus no access to this market source of equity capital.

Related to Mutual Institution

  • Custodial Institution means any Entity that holds, as a substantial portion of its business, financial assets for the account of others. An entity holds financial assets for the account of others as a substantial portion of its business if the entity’s gross income attributable to the holding of financial assets and related financial services equals or exceeds 20 percent of the entity’s gross income during the shorter of: (i) the three-year period that ends on December 31 (or the final day of a non-calendar year accounting period) prior to the year in which the determination is being made; or (ii) the period during which the entity has been in existence.

  • Medical institution means an organization in which several medical disciplines are practiced.

  • Educational institution means a University or any educational institution recognized by the State Government, a University or other competent authority;

  • Host Institution means the body or institution or administering organisation named in the Letter of Award as the “Host Institution” as the body responsible for undertaking and managing the Research;

  • Participating Financial Institution means a Financial Institution that has been approved by the Authority to enroll Qualified Loans in the Program and has agreed to all terms and conditions set forth in the Law and this Article and as may be required by any applicable federal law providing matching funding.

  • State educational institution means an institution enumerated in Article 12, Section 11 of the constitution of New Mexico;

  • Postsecondary educational institution means a degree- or certificate-granting public or private college or university, junior college, or community college that is located in this state. The term includes the governing body of the postsecondary educational institution.

  • State institution means a mental health institute, as defined in s. 51.01 (12), a center for the developmentally disabled, as defined in s. 51.01 (3), or a secure mental health facility at which persons are committed under s. 980.06.

  • UK Financial Institution means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

  • Correctional institution means a state prison, prison facility, or other prison institution, correctional camp, community corrections center, correctional farm, state reformatory, or probation recovery camp, owned, operated, leased, supervised, or contracted for by this state.

  • EEA Financial Institution means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent.

  • Private institution (“sefydliad preifat”) means an institution which is not publicly funded;

  • educational institutions means schools and suchlike institutions;

  • Home Institution means the institution where the student is currently enrolled as a degree seeking student and may be eligible for financial aid at the same institution.

  • Reporting Financial Institution means a Reporting Finnish Financial Institution or a Reporting U.S. Financial Institution, as the context requires.

  • foreign financial institution means an institution registered as a foreign financial institution with the Ministry of Finance in the Mexican Banking and Financial Institutions, Pensions, Retirement and Foreign Investment Funds Registry for purposes of Article 195, Section I of the Mexican Income Tax Law.

  • Licensed financial institution means a financial institution issued a license under this act.

  • Eligible Financial Institution means, as of the date of any assignment as contemplated in Section 8.07(a)(i), a commercial bank or financial institution (i) with a credit rating on its long-term senior unsecured debt of either (a) “AA-” or better from S&P or (b) “Aa3” or better from Xxxxx’x; and (ii) having shareholders' equity of not less than $5,000,000,000.

  • your financial institution means the financial institution nominated by you on the DDR at which the account is maintained.

  • Eligible educational institution means that term as defined in section 529 of the internal revenue code or a college, university, community college, or junior college described in section 4, 5, or 6 of article VIII of the state constitution of 1963 or established under section 7 of article VIII of the state constitution of 1963.

  • banking institution means a bank, bank and trust company, trust company, savings bank, private bank, or a national banking association, organized and doing business under the provisions of any law of this state, or of any other state of the United States, or under the provisions of any law of the United States of America.

  • the institution means the institution which the Corporation is established to conduct and any institution for the time being conducted by the Corporation in exercise of its powers under the Further and Higher Education Act 1992;

  • Financial Institutions has the meaning set forth in the preamble in this Agreement.

  • Financial institution means a Custodial Institution, a Depository Institution, an Investment Entity, or a Specified Insurance Company.

  • Nonparticipating Financial Institution means a nonparticipating FFI, as that term is defined in relevant U.S. Treasury Regulations, but does not include a [FATCA Partner] Financial Institution or other Partner Jurisdiction Financial Institution other than a Financial Institution identified as a Nonparticipating Financial Institution pursuant to paragraph 2 of Article 5.

  • Designated Financial Institution shall have the meaning specified in Section 14.12(a).