neighborhood development funding organization
Defined in 1 place of the United States Code.
The term “neighborhood development funding organization” means—
(A) a depository institution the accounts of which are insured pursuant to the Federal Deposit Insurance Act [12 U.S.C. 1811 et seq.] or the Federal Credit Union Act [12 U.S.C. 1751 et seq.], and any subsidiary (as such term is defined in section 3(w) of the Federal Deposit Insurance Act [12 U.S.C. 1813(w)]) thereof;
(B) a depository institution holding company and any subsidiary thereof (as such term is defined in section 3(w) of the Federal Deposit Insurance Act [12 U.S.C. 1813(w)]); or
(C) a company at least 75 percent of the common stock of which is owned by one or more insured depository institutions or depository institution holding companies.
Source
- 1994–present42 U.S.C. § 5318AThe Public Health and Welfare · John Heinz Neighborhood Development Program · for the purposes of this section