Code of Massachusetts Regulations
209 CMR - DIVISION OF BANKS AND LOAN AGENCIES
Title 209 CMR 33.00 - Conversion By Co-operative Banks And Savings Banks From Mutual To Stock Form
Section 33.33 - Definitions

Terms used in 209 CMR 33.32 through 33.41 which are defined in 209 CMR 33.02 or 209 CMR 33.22 shall have the definitions set forth therein, unless the context requires otherwise, and to the extent such definitions are not inconsistent with the definitions contained in this subpart. All other terms used in 209 CMR 33.32 through 33.41, shall be defined as follows, unless the context otherwise requires:

Amount. The term "amount", when used in regard to securities, means the principal amount if relating to evidences of indebtedness, the number of shares if relating to shares, and the number of units if relating to any other kind of security.

Applicant. An "applicant" is a mutual holding company as defined under 209 CMR 33.22 which has applied to convert to stock form pursuant to 209 CMR 33.32 through 33.41.

Capital Stock. The term "capital stock" refers to stock issued by a converting mutual holding company which complies with the requirements of 209 CMR 33.32 through 33.41 and includes any type of equity security permitted under M.G.L. c. 156B.

Eligible account holder. The term eligible account holder means any person holding a qualifying deposit in a resulting subsidiary banking institution or an acquiree subsidiary banking institution of the converting mutual holding company. This term shall not include any holder of stock in a subsidiary banking institution or a subsidiary holding company of the converting mutual holding company that does not hold a qualifying deposit in a resulting subsidiary banking institution or an acquiree subsidiary banking institution of the converting mutual holding company.