SLHC Act definition

SLHC Act. Subsidiary means any corporation, 50% or more of the capital stock of which ---------- is owned, either directly or indirectly, by another entity, except any corporation the stock of which is held in the ordinary course of the lending activities of a bank.
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SLHC Act means the Savings and Loan Holding Company Act, as amended, 12 U.S.C. §1467a.
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Examples of SLHC Act in a sentence

  • NFC is a savings and loan holding company duly registered under the SLHC Act.

  • Marshalltown is registered as a savings and loan holding company with the OTS under the SLHC Act.

  • Except as set forth on Schedule 6.7 hereof, all of the activities and investments of the Company conform to the requirements applicable generally to unitary savings and loan holding companies under the S&LHC Act and the regulations of the Office of Thrift Supervision (the "OTS") adopted thereunder.

  • Each party hereto will use its best efforts to make all filings with, and to obtain consent of, all third parties and governmental authorities necessary or advisable to the consummation of the transactions contemplated by this Agreement, including applying to the OTS under the SLHC Act for approval to acquire the shares issuable hereunder.

  • Company is a bank holding company registered under the Bank Holding Company Act of 1956, as amended (the "BHC Act") and a savings and loan holding company under the Savings and Loan Holding Company Act (the "SLHC Act").

  • The Company has filed an Application to become a savings and loan holding company (the "Holding Company Application") pursuant to the Savings and Loan Holding Company Act, as amended (the "SLHC Act") with the OTS.

  • At the time of the approval of the Holding Company Application, including the Prospectus (including any amendment or supplement thereto), by the OTS and at all times subsequent thereto until the Closing Date, the Holding Company Application, including the Prospectus (including any amendment or supplement thereto), will comply in all material respects with the SLHC Act and related regulations, except to the extent waived in writing by the OTS.