mutual association

mutual association. A mutually owned, cooperative savings and loan association, with the deposits being shares of the association. • A mutual association is not allowed to issue stock and is usu. regulated by the Office of Thrift Supervision, an agency of the U.S. Treasury Department. See SAVINGS-AND-LOAN ASSOCIATION . [Cases: Building and Loan Associations

1. C.J.S. Building and Loan Associations, Savings and Loan Associations, and Credit Unions §§ 2–4.]

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词条贡献者

双语律师Shifang，知名法学院法律专业，擅长翻译各类与企业改组和重组相关的法律文件。