H.R. 3615, the Mutual Bank Conversion Act: Hearing Before the Subcommittee on Financial Institutions Supervision, Regulation, and Deposit Insurance of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One Hundred Third Congress, Second Session, January 26, 1994, Volumen4

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Página 102 - ... under common control with, such end product manufacturer. (p) Control "Control", including the terms "controlling", "controlled by", and "under common control with", means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of any person, whether through the ownership of voting securities, by contract, or otherwise. (q) Plans and projects. "Plans and projects" means those research and nutrition education plans, studies or projects...
Página 102 - person" means an individual, a corporation, a partnership, an association, a joint-stock company, a trust, any unincorporated organization, or a government or political subdivision thereof. As used in this paragraph the term "trust...
Página 119 - This concludes my prepared remarks and I will be happy to answer any questions you or other committee members might have.
Página 54 - Its capital stock at a total price equal to the estimated pro forma market value of such...
Página 102 - ... conversion is completed or terminated. (Ll For the purpose of this rule: (1l The public offering shall be deemed to commence upon the filing with the superintendent of the preliminary offering circular for the public offering; and...
Página 35 - Gentlemen, welcome, thank you very much for coming this morning. We will put your entire statements in the record and if you would summarize it would give us a little more time for discussion.
Página 9 - Mr. Chairman, and members of the subcommittee, on behalf of the Federal Deposit Insurance Corporation, I appreciate this opportunity to testify regarding institutions that convert from mutual to stock ownership.
Página 114 - Traditional savings accounts still form over 25% of their liabilities, but savings banks now offer a wider variety of savings vehicles as well as checking accounts. Deposits at state-chartered savings banks are insured by the Bank Insurance Fund of the Federal Deposit Insurance Corporation (FDIC). State and federal regulations still restrict the powers of savings banks. Like other thrifts, however, savings banks in most states now have powers similar to those of commercial banks. Moreover, savings...
Página 101 - That the expenses incurred in the conversion shall be reasonable: (9l That the convening savings bank shall not loan funds or otherwise extend credit to any person to purchase the capital stock of the savings bank; (10l That the proxies heid with respect to voting rights in the savings bank will net be voted regarding the conversion.
Página 101 - ... by the convening savings bank in a direct community offering; (3) That a direct community offering by the converting savings bank shall give a preference to natural persons residing in the counties in which the savings bank has an office...

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