Code of Alabama |
Match Context and Document information |
URL: | http://alisondb.legislature.state.al.us/alison/CodeOfAlabama /1975/5-11A-36.htm |
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Depth: | 0 singles |
Size: | 1,093 bytes |
Modified: | 1998-08-03 14:29:16 |
Categories: | -None- |
Title: | 5-11A-36 |
Description: | -None- |
Keywords: | -None- |
Meta data: | -None- |
Body: | Section 5-11A-36 "Related" defined. A transferor bank, trust company or trust department is "related" to a transferee bank, trust company or trust department if: (1) Such transferee controls the transferor; (2) Such transferor controls the transferee; (3) The same entity controls, directly or indirectly, the transferor and the transferee; (4) A majority of the directors of the transferor are directors of the transferee; or (5) A majority of the directors of the transferee are directors of the transferor. "Control" and "controls" as used herein shall mean the ownership of a majority of the voting shares of another bank, trust company or of the bank operating such trust department. (Acts 1989, No. 89-539, p. 1127, ยง7.) |