A transferor bank, trust company or trust department is “related” to a transferee bank, trust company or trust department if:

1. (1) Such transferee controls the transferor;
2. (2) Such transferor controls the transferee;
3. (3) The same entity controls, directly or indirectly, the transferor and the transferee;
4. (4) A majority of the directors of the transferor are directors of the transferee; or

5. (5) A majority of the directors of the transferee are directors of the transferor.

   “Control” and “controls” as used herein shall mean the ownership of a majority of the voting shares of another bank, trust company or of the bank operating such trust department.

(Acts 1989, No. 89-539, p. 1127, §7.)