Mutual savings and loan association definition

Mutual savings and loan association means a savings and loan association that is not authorized by its articles of incorporation to issue capital stock.
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Mutual savings and loan association means an institution chartered or organized under the laws of this state as a savings and loan association without capital stock;
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Mutual savings and loan association means a savings and loan association or savings and loan bank without stock in which the borrowers and depositors are members of the savings and loan association or savings and loan bank and have voting rights as members of the association or bank;
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More Definitions of Mutual savings and loan association

Mutual savings and loan association means a savings and loan association for which the articles of incorporation do not authorize the issuance of common or preferred stock.
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Related to Mutual savings and loan association

  • Savings and loan association means an association established under Act No. 156 of the Public Acts of 1964, as amended, being sections 489.501 to 489.920 of the Michigan Compiled Laws, or a federal savings and loan association established under the laws of the United States having its main office in this state.

  • Judicial Council’s Master Account means the Judicial Council’s billing account to which the Contractor is authorized to charge specifically identified charges under this Agreement.

  • Mutual housing corporation means a corporation not-for-profit,

  • Business association means a nonpublic corporation, joint stock company, investment company, business trust, partnership, or association for business purposes of 2 or more individuals, whether or not for profit, including a banking organization, financial organization, insurance company, or utility.

  • financial service means a service of a financial nature, including insurance, and a service incidental or auxiliary to a service of a financial nature;