(1) A savings association may share financial and credit information concerning its customers:
(a) With any company of which it directly or indirectly controls 50 percent or more of the voting shares; and
(b) With any parent company that directly or indirectly controls 50 percent or more of the voting shares of the savings association.
(2) Any company controlled by a savings association in the manner described in subsection (1) of this section and any parent company of the same savings association, as described in subsection (1) of this section, may share information concerning their customers with each other, with the savings association and with any other company so controlled by the same savings association.
(3) This section shall not be construed as otherwise permitting or limiting the sharing or disclosure of information.
(4) For purposes of this section, “customers” includes but is not limited to depositors, borrowers, credit card holders, lessees, purchasers under contracts and applicants for credit. [1985 c.798 §2]
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