“Subsidiaries,” with respect to a specified bank holding company, means:
(a) Any company 10 percent or more of whose voting securities are directly or indirectly owned or controlled by such bank holding company;
(b) Any company a majority of whose directors are controlled in any manner by such holding company;
(c) Any company 10 percent or more of whose voting securities are held by trustees or nontrustees for the benefit of the stockholders, shareholders, or members of such holding company; or
(d) Any company 10 percent or more of the legal or beneficial ownership of which is directly or indirectly owned or controlled by such holding company.
(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)
Last modified: October 25, 2018