Section 5100.6 Of Article 2. General Definitions From California Financial Code >> Division 2. >> Chapter 1. >> Article 2.
5100.6
. "Affiliate" of a savings association, unless otherwise
defined, includes any corporation, business trust, unincorporated
association or other similar organization which meets the criteria of
subdivision (a), (b), or (c), as follows:
(a) The savings association directly or indirectly, owns or
controls either a majority of the voting shares or more than 50 per
centum of the number of shares voted for the election of its
directors, trustees, or other persons exercising similar functions at
the preceding election, or controls in any manner the election of a
majority of its directors, trustees, or other persons exercising
similar functions.
(b) Control thereof is held, directly or indirectly through stock
ownership or in any other manner, by the shareholders of a savings
association who own or control either a majority of the shares of the
savings association or more than 50 per centum of the number of
shares voted for the election of directors of that savings
association at the preceding election, or by trustees for the benefit
of the shareholders of any savings association.
(c) A majority of its directors, trustees, or other persons
exercising similar functions are directors of any one savings
association.