minority bank
Defined in 1 place of the United States Code.
Minority bank.—The term "minority bank" means any depository institution described in clause (i), (ii), or (iii) of section 461(b)(1)(A) of this title—
(I) more than 50 percent of the ownership or control of which is held by one or more minority individuals; and
(II) more than 50 percent of the net profit or loss of which accrues to minority individuals.
Source
- 1994–201512 U.S.C. § 1823Banks and Banking · Corporation monies · in this section
The term “minority bank” means any depository institution described in clause (i), (ii), or (iii) of section 461(b)(1)(A) of this title—
(I) more than 50 percent of the ownership or control of which is held by one or more minority individuals; and
(II) more than 50 percent of the net profit or loss of which accrues to minority individuals.
Source
- 2013–present12 U.S.C. § 1823Banks and Banking · Corporation monies · in this section