“Control” means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract, or otherwise. However, “control,” when used with respect to acquiring control of or controlling a bank, has the meaning set forth in Financial Code Section 700(b).

Note: Authority cited: Section 215, Financial Code. Reference: Division 1, Financial Code.

History

1. Amendment filed 10-15-81 as an emergency; effective upon filing (Register 81, No. 44). A Certificate of Compliance must be transmitted to OAL within 120 days or emergency language will be repealed on 2-12-82.

2. Certificate of Compliance transmitted to OAL 2-11-82 and filed 3-12-82 (Register 82, No. 11).