Examples of Subsidiary Bank in a sentence
None of the Subsidiary Bank Shares have been issued in violation of any shareholder’s preemptive rights.
Borrower shall not itself, nor shall it cause, permit or allow any Subsidiary to cause or allow the percentage of Subsidiary Bank Shares owned directly or indirectly by Borrower to diminish as a percentage of the outstanding capital stock of Subsidiary Bank.
The deposits of each Subsidiary Bank of the Borrower are insured by the FDIC and no act has occurred which would adversely affect the status of such Subsidiary Bank as an FDIC insured bank.
The deposit accounts of Subsidiary Bank are insured by the FDIC to the fullest extent permitted by applicable law.
Subsequently in 1959, the State Bank of India (Subsidiary Bank) Act was passed, enabling the SBI to take over eight former state-associate banks as its subsidiaries.