Associate Definition Example

Associate. When used to indicate a relationship with any Person means (i) a corporation or organization (other than the Association, a majority-owned subsidiary of the Association or the Holding Company) of which such Person is a senior officer or partner or is, directly or indirectly, the beneficial owner of 10% or more of any class of equity securities, (ii) any trust or other estate in which such Person has a substantial beneficial interest or as to which such Person serves as trustee or in a similar... fiduciary capacity, provided, however, that such terms shall not include any Tax-Qualified Employee Stock Benefit Plan or Non-Tax-Qualified Employee Stock Benefit Plan of the Holding Company or the Association in which such Person has a substantial beneficial interest or serves as a trustee or in a similar fiduciary capacity, and (iii) any Person who is related by blood or marriage to such Person and who lives in the same home as such Person or who is a director or senior officer of the Association or the Holding Company or any of the subsidiaries of the foregoing. View More