State savings definition
Examples of State savings in a sentence
The term ‘‘State depository institution’’ means any State bank, any State savings as- sociation, and any insured branch which is not a Federal branch.
No advisory board fees should exceed the director fees paid by the resulting State savings association.
The term ‘‘State bank supervisor’’ means any officer, agency, or other entity of any State which has primary regulatory author- ity over State banks or State savings asso- ciations in such State.
Advisory board fees that are in excess of 115 percent of the director fees paid by the disappearing State savings asso- ciation prior to commencement of ne- gotiations regarding the transaction give rise to presumptions of unreasonableness and sale of control unless sufficient evidence to rebut such presumptions is submitted.
A State savings association may issue and commit to issue letters of credit within the scope of applicable laws or rules of practice recognized by law.
The transaction will be particularly scrutinized where any of such persons is to receive a material increase in compensation above that paid by the disappearing State savings association prior to the commencement of negotia- tions regarding the proposed trans- action.
No advisory board fees should be paid to salaried of- ficers or employees of the resulting State savings association.
Each State savings association should reex- amine its underwriting standards at least annually in order to ensure equal opportunity.
A State savings association is required to file a SAR no later than 30 calendar days after the date of initial detection of facts that may constitute a basis for filing a SAR.
No State savings asso- ciation may use or rely upon an ap- praisal of a dwelling which the State savings association knows, or reason- ably should know, is discriminatory on the basis of the age or location of the dwelling, or is discriminatory per se or in effect under the Fair Housing Act of 1968 or the Equal Credit Opportunity Act.