Savings Bank Holding Company [Banks & Banking] Law and Legal Definition

Pursuant to 12 USCS § 1841 (l) [Title 12. Banks and Banking; Chapter 17. Bank Holding Companies], the term savings bank holding company means “any company which controls one or more qualified savings banks if the aggregate total assets of such savings banks constitute, upon formation of the holding company and at all times thereafter, at least 70 percent of the total assets of such company.”