Rhode Island § 19-7-1 § 19-7-1. Definitions.

Rhode Island Statutes

§ 19-7-1 — § 19-7-1. Definitions.

Rhode Island § 19-7-1

Title 19Financial institutions

Ch. 19-7Interstate Banking, Interstate Branching and Bank Holding Company Mergers and Acquisitions

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Bluebook

R.I. Gen. Laws § 19-7-1 (2026).

Text

§ 19-7-1. Definitions.
(a) For the purposes of this chapter, the term or terms:
         
(1) "Bankâ€�, "bank-holding companyâ€�, "companyâ€�, "subsidiaryâ€�, and "controlâ€� have the meanings
            set forth in the federal Bank Holding Company Act of 1956, 12 U.S.C. § 1841 et seq., except that "bankâ€� 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.
         
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§ 19-7-1. Definitions.

(a) For the purposes of this chapter, the term or terms:

(1) "Bankâ€�, "bank-holding companyâ€�, "companyâ€�, "subsidiaryâ€�, and "controlâ€� have the meanings set forth in the federal Bank Holding Company Act of 1956, 12 U.S.C. § 1841 et seq., except that "bankâ€� 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 bankâ€� means a bank whose principal office is located in any other state.

(3) "Out-of-state bank-holding companyâ€� means a holding company for which the operations of its bank subsidiaries are principally conducted in any other state.

(4) "Rhode Island bank-holding companyâ€� 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 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.