Definition of savings associations and related terms
(1) Savings association The term “savings association” means— (A) any Federal savings association; (B) any State savings association; and (C) any corporation (other than a bank) that the Board of Directors and the Comptroller of the Currency jointly determine to be operating in substantially the same manner as a savings association.
(2) Federal savings association The term “Federal savings association” means any Federal savings association or Federal savings bank which is chartered under section 1464 of this title .
(3) State savings association The term “State savings association” means— (A) any building and loan association, savings and loan association, or homestead association; or (B) any cooperative bank (other than a cooperative bank which is a State bank as defined in subsection (a)(2)), which is organized and operating according to the laws of the State (as defined in subsection (a)(3)) in which it is chartered or organized.
(1)Savings association#
The term “savings association” means—
(A) any Federal savings association;
(B) any State savings association; and
(C) any corporation (other than a bank) that the Board of Directors and the Comptroller of the Currency jointly determine to be operating in substantially the same manner as a savings association.
(2)Federal savings association#
The term “Federal savings association” means any Federal savings association or Federal savings bank which is chartered under section 1464 of this title .
(3)State savings association#
The term “State savings association” means—
(A) any building and loan association, savings and loan association, or homestead association; or
(B) any cooperative bank (other than a cooperative bank which is a State bank as defined in subsection (a)(2)),
which is organized and operating according to the laws of the State (as defined in subsection (a)(3)) in which it is chartered or organized.