§ 19-7-1

(a) For the purposes of this chapter, the term or terms: (1) 'Bank', 'bank-holding company', 'company', 'subsidiary', and 'control' have the meanings set forth in the federal Bank Holding Company Act of 1956, 12 U.S.C. § 1841 et seq., except that 'bank' shall also include financial institutions, as defined in this title, and other forms of federally-insured-deposit-taking institutions. Bank-holding companies shall include thrift-holding companies as set forth in the Home Owners’ Loan Act, 12 U.S.C. § 1461 et seq., whether organized with or without capital stock. (2) 'Out-of-state bank' means a bank whose principal office is located in any other state. (3) 'Out-of-state bank-holding company' means a holding company for which the operations of its bank subsidiaries are principally conducted in any other state. (4) 'Rhode Island bank-holding company' means a bank-holding company that controls a financial institution, provided that an out-of-state bank or bank-holding company that acquired control of one or more financial institutions shall not be deemed to be a Rhode Island bank-holding company, unless operations of its bank subsidiaries are principally

k-holding company that acquired control of one or more financial institutions shall not be deemed to be a Rhode Island bank-holding company, unless operations of its bank subsidiaries are principally conducted in this state. (b) For the purposes of this chapter, the state in which operations of a bank-holding company’s bank subsidiaries are principally conducted is the state in which total deposits of all of its bank subsidiaries are the largest. History of Section.P.L. 1995, ch. 82, § 45; P.L. 2017, ch. 451, § 22.