(a) No savings and loan holding company
may, directly or indirectly, or through one or more subsidiaries or
through one or more transactions, acquire control of an uninsured
institution or retain, for more than one year after the date any savings
association subsidiary becomes uninsured, control of such association.
(b) Control of mutual savings association. No savings and loan holding company or any subsidiary thereof, or
any director, officer, or employee of a savings and loan holding company
or subsidiary thereof, or person owning, controlling, or holding with
power to vote, or holding proxies representing, more than 25 percent
of the voting shares of such holding company or subsidiary, may hold,
solicit, or exercise any proxies in respect of any voting rights in
a mutual savings association.
