12 USC 2907 - Operation of branch facilities by minorities and women

U.S Code last checked for updates: May 19, 2024

§ 2907.

Operation of branch facilities by minorities and women

(a)

In general

(b)

Definitions

For purposes of this section—

(1)

Minority depository institution

The term “minority institution” 1

 So in original. Probably should be “minority depository institution”.

means a depository institution (as defined in section 1813(c) of this title)—

(A)

more than 50 percent of the ownership or control of which is held by 1 or more minority individuals; and

(B)

more than 50 percent of the net profit or loss of which accrues to 1 or more minority individuals.

(2)

Women’s depository institution

The term “women’s depository institution” means a depository institution (as defined in section 1813(c) of this title)—

(A)

more than 50 percent of the ownership or control of which is held by 1 or more women;

(B)

more than 50 percent of the net profit or loss of which accrues to 1 or more women; and

(C)

a significant percentage of senior management positions of which are held by women.

(3)

Minority

(Pub. L. 95–128, title VIII, § 808, as added Pub. L. 102–233, title IV, § 402(b), Dec. 12, 1991, 105 Stat. 1775; amended Pub. L. 102–550, title IX, § 909(2), Oct. 28, 1992, 106 Stat. 3874.)

cite as: 12 USC 2907