Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 1075 - SAVINGS BANK ACT › Subpart J - SAVINGS BANK HOLDING COMPANIES › Section 1075.1105 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
"Acquiree savings bank" means any subsidiary savings bank,
				  other than a resulting savings bank, that is acquired by a mutual holding
				  company as part of, and concurrently with, a mutual holding company
				  reorganization and is in mutual form immediately prior to such
				  acquisition.
"Affiliate" means any company that controls, is controlled
				  by, or is under common control with a person.
"Assets" means the total assets of the savings bank minus
				  goodwill and any other intangible assets, including but not limited to,
				  purchased deposit base and branch network, and leasehold improvements net of
				  accumulated depreciation.
"Capital stock" includes permanent stock, guaranty stock,
				  permanent reserve stock, any similar certificate evidencing non-withdrawable
				  capital, preferred stock, or convertible preferred stock of a savings bank
				  created or acquired under this Subpart or of a subsidiary, institution or
				  holding company.
"Charter" includes articles of incorporation, articles of
				  reincorporation, or any similar instrument, as amended, effecting (either with
				  or without filing with any government agency) the organization or creation of
				  an incorporated or unincorporated person.
"Company" means a corporation or partnership, a savings bank,
				  a joint stock company, a trust or an unincorporated organization.
"Control" is defined as it is in Section 1007.35 of the
				  Act.
"Eligible account holder" means any person holding a
				  qualifying deposit as of a given date.
"Eligibility record date" shall mean the record date for
				  determining eligible account holders of an institution.
"Employee" does not include an organization director or an
				  officer.
"Equity security" means any stock or similar security or any
				  security convertible, with or without consideration, into such a security, or
				  carrying any warrant or right to subscribe to or purchase a security, or any
				  warrant or right.
"Member" means any person qualifying as a member of an
				  insured institution pursuant to its charter or bylaws.
"Mutual savings bank" means a mutual savings bank organized
				  and operating under the Act.
"Net worth" means the aggregate of capital stock accounts,
				  capital surplus and retained earnings accounts and all other reserve accounts
				  except valuation reserves and specific reserves that are in the nature of
				  valuation reserves.
"Person" means an individual, a company, or a government or
				  political subdivision.
"Pre-existing depository institution" means a subsidiary
				  depository institution that is not an acquiree savings bank, a resulting
				  savings bank or a savings bank in mutual form when acquired.
"Purchase" or "Buy" includes every contract to purchase, buy,
				  or otherwise acquire a security or interest in a security for value.
"Qualifying deposit" means a deposit determined pursuant to
				  Section
				  1075.1935
				  of this Part.
"Reorganizing savings bank" means a mutual savings bank that
				  proposes to reorganize to become a mutual holding company pursuant to this
				  Subpart.
"Resulting savings bank" means a savings bank in stock form
				  that is organized as a subsidiary of a reorganizing savings bank to receive the
				  substantial portion of the assets, all the insured deposits, and part or all of
				  the other liabilities of the reorganizing savings bank.
"Sale" or "Sell" includes every contract to sell or otherwise
				  dispose of a security or interest in a security for value; but these terms do
				  not include an exchange of securities in connection with a merger or
				  acquisition approved by the Director.
"Security" includes any stock, note, treasury stock, bond,
				  debenture, transferrable share, investment contract, voting trust certificate,
				  or, in general, any instrument commonly known as a "security"; or any
				  certificate of interest or participation in, temporary or interim certificate
				  for, receipt for, or warrant, or right to subscribe to or purchase any of the
				  foregoing.
"Stock" means common or preferred stock, or any other type of
				  equity, security, including (without limitation) warrants or options to acquire
				  common or preferred stock, or other securities that are convertible into common
				  or preferred stock.