mutual holding company

mutual holding company
USA
A thrift holding company that is owned by shareholders but controlled by the depositors of the subsidiary thrift. A mutual holding company holds a majority of the voting stock of the subsidiary thrift, while the remaining 49.9% of the thrift's stock can be sold to outside investors. Mutual holding companies are authorized under the Savings and Loan Holding Company Act, 12 U.S.C. 1467a(o) and the implementing regulations are found at 12 C.F.R.pt. 575.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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