Owning an Interest Law and Legal Definition
According to 12 CFR 2.2 [Title 12 Banks and Banking; Chapter I Comptroller of the Currency, Department Of The Treasury; Part 2 Sales Of Credit Life Insurance], owning an interest includes:
"(1) Ownership through a spouse or minor child;
(2) Ownership through a broker, nominee, or other agent; or
(3) Ownership through any corporation, partnership, association, joint venture, or proprietorship, that is controlled by the director, officer, employee, or principal shareholder of the bank."
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