principal shareholder
Defined in 1 place of the United States Code.
The term “principal shareholder”—
(i) means any person that directly or indirectly, or acting through or in concert with one or more persons, owns, controls, or has the power to vote more than 10 percent of any class of voting securities of a member bank or company; and
(ii) does not include a company of which a member bank is a subsidiary.
Source
- 1994–present12 U.S.C. § 375BBanks and Banking · Extensions of credit to executive officers, directors, and principal shareholders of member banks · for purposes of this section