Savings and loan definition

Savings and loan means a corporation authorized to operate under chapter 534 or the federal Home Owner’s Loan Act of 1933, 12 U.S.C. § 1461 et seq., and includes a savings and loan association, a savings bank, or any branch of a savings and loan association or savings bank.
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Savings and loan means a corporation authorized to operate under chapter 534 or the federal Home Owner’s Loan Act of 1933, 12 U.S.C. § 1461 et seq., and includes a savings and loan association, a savings bank, or any branch of a savings and loan association or savings bank.h.g. “Superintendent” means the superintendent of banking of this state when the depository is a bank, and the superintendent of credit unions of this state when the depository is a credit union.i.h. “Uninsured public funds” means any amount of public funds of a public funds depositor on deposit in an account at a financial institution that exceeds the amount of public funds in that account that are insured by the federal deposit insurance corporation or the national credit union administration.Sec. 37. Section 12C.13, Code 2011, is amended to read as follows:12C.13 Deposit not membership.Notwithstanding chapter 534524, the deposit of public funds in a credit unionas defined in section 533.102 or an association defined in section 534.102a mutual corporation as defined in section 524.103 does not constitute being a shareholder, stockholder, or owner of a corporation in violation of Article VIII of the Constitution of the State of Iowa or any other provision of law.Sec. 38. Section 12C.20, subsections 1 and 4, Code 2011, are amended to read as follows:
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Examples of Savings and loan in a sentence

  • Savings and loan institutions are required to collateralize 100% of deposits in excess of FDIC limits.

  • Savings and loan holding companies do not include any trust (other than a pension, profit-sharing, stockholders’ voting, or business trust) which controls a savings association if such trust by its terms must terminate within 25 years or not later than 21 years and 10 months after the death of individuals living on the effective date of the trust, and (a) was in existence and in control of a savings association on June 26, 1967, or,(b) is a testamentary trust.

  • Savings and loan association," "association" or "loan and building association" means a financial institution organized under the prior laws of this State that is authorized to exercise the powers set forth in Part 4, subject to the conditions and limitations on the exercise of those powers as set forth in Part 4.[PL 1997, c.

  • Savings and loan associations, banks, and credit unions should enter the date their organization was chartered.

  • Savings and loan associations, banks, and credit unions should enter the state in which they were chartered.

  • Savings and loan holding companies should clearly specify the location of the incorporated material, including page, item, and/or paragraph number.

  • Savings and loan holding companies (SLHCs) do not include any trust (other than a pension, profit-sharing, stockholders’ voting, or business trust) which controls a savings association if such trust by its terms must terminate within 25 years or not later than 21 years and 10 months after the death of individuals living on the effective date of the trust, and (a) was in existence and in control of a savings association on June 26, 1967, or, (b) is a testamentary trust.

  • Savings and loan holding companies, however, are not subject to risk-based capital rules.

  • Savings and loan associa- tions and savings banks are included in this industry.

  • Savings and loan associations are allowed an income tax credit equal to the amount of supervisory fees paid to the savings and loan division of the Department of Commerce.

Related to Savings and loan

  • 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.

  • Savings and Loan Holding Company means a company registered as such with the Office of Thrift Supervision pursuant to 12 U.S.C. §1467a(b) and the regulations of the Office of Thrift Supervision promulgated thereunder.

  • Interfund loan means a loan of cash from one fund to another, subject to future repayment.

  • CD Loan means a Committed Loan which bears interest at a CD Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election.

  • Front-end Load means the Sales load which may be included in the offering price of the Units; provided however that different levels of Front-end Load may be applied to different investors, as determined by the Management Company. However aggregate of Front-end Load and Back-end Load should not exceed 3% of Net Asset Value.

  • Profit Sharing Account means any one of the accounts so designated and provided for in Section 6.01.

  • Sub-Servicing Account An account established by a Sub-Servicer which meets the requirements set forth in Section 3.08 and is otherwise acceptable to the Master Servicer.

  • Back-end Load means the charge deducted from the Net Asset Value in determining the Redemption Price; provided however that different levels of Back-end Load may be applied to different classes of Units, as specified in this document.

  • Servicer Account means any account established by Servicer in connection with the servicing of the Mortgage Loans.

  • Ineligible Institution has the meaning assigned to such term in Section 9.04(b).

  • Excess Funding Account shall have the meaning specified in Section 4.02.

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.

  • Master Account or “Judicial Council’s Master Account” shall mean the Judicial Council’s billing account to which the Contractor is authorized to charge specifically identified charges under this Agreement.

  • Related Account means an Account with respect to which a new credit account number has been issued by the applicable Account Owner or Servicer or the applicable Transferor under circumstances resulting from a lost or stolen credit card and not requiring standard application and credit evaluation procedures under the Credit Card Guidelines.

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Designated Bank Account means the relevant bank account designated by each Holder;

  • Savings Account means an account, which is based on Mudarabah and its profit shall be calculated based on the profit earned on any balance maintained above the minimum threshold or average threshold (as may be agreed upon with the Bank).

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Administration Account As defined in Section 7.02.

  • Holding Account means an account:

  • Book Capital Account means, for any Holder at any time, the Book Capital Account of the Holder for such day, determined in accordance with Section 8.1 hereof.

  • Transfer Account means the account established hereunder to which amounts transferred to this Plan from a direct plan-to-plan transfer in accordance with Section 4.7 are allocated.

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.