The following definitions apply
to this subpart:
(a) Appropriate Federal banking agency has the same meaning as in
12 U.S.C. 1813(q) and includes, with respect to agreements entered
into and conditions imposed prior to July 21, 2011, the Office of
Thrift Supervision.
(b) Dividend means:
(1) A distribution of cash or other property
to owners of a savings association made on account of their ownership,
but not any dividend consisting only of shares or rights to purchase
shares; or
(2) Any
transaction that the Board determines, by order or regulation, to
be in substance a dividend.
(c) Shares means common and preferred stock,
and any options, warrants, or other rights for the acquisition of
such stock. The term “share” also includes convertible securities
upon their conversion into common or preferred stock. The term does
not include convertible debt securities prior to their conversion
into common or preferred stock or other securities that are not equity
securities at the time of a dividend.
