Qualified Affiliate Law and Legal Definition

According to 12 CFR 362.10 [Title 12 -- Banks and Banking; Chapter III -- Federal Deposit Insurance Corporation; Subchapter B -- Regulations and Statements of General Policy; Part 362 -- Activities of Insured State Banks and Insured Savings Associations; Subpart C -- Activities of Insured State Savings Associations], qualified affiliate means, “in the case of a stock insured state savings association, an affiliate other than a subsidiary or an insured depository institution. In the case of a mutual savings association, "qualified affiliate" means a subsidiary other than an insured depository institution provided that all of the savings association's investments in, and extensions of credit to, the subsidiary are deducted from the savings association's capital.”