Here are more requirements that all of the various Directors, Vice Presidents and Presidents of the PABN/PRWT League of enterprises will need to reveal about themselves.
I'm not so sure....reading the following....
For the purposes of this certification, the term "Applicant" includes the party submitting the application; all controlling persons of the Applicant, as defined in 12 CFR Section 561.14, and persons who otherwise directly or indirectly exercise a controlling influence over the management or policies of the Applicant; affiliates and companies controlled by the Applicant.
I think the operative word in the above is control. Following the company pattern, the new thrift will probably be incorporated (in who knows what state) as it's own entity and PABN would be the parent company of said corporation. If this is the case, then the "thrift" does not control any of the other entities, in fact, they are all separate entities under the PABN umbrella. The controlling entity is the mother company, PABN.
If this was the course of action, then shouldn't PABN appoint a board of directors, to the mother company? [last I checked the names of officers that are listed are specific to the individual entities] A name that could/would be absent from the board of directors to the parent company would be Charlie, for reasons already stated. And then, at a later date, his name could be added to the roster, without repercussions under the following conditions...
With respect to an Applicant that is not a natural person, the time period covered by this paragraph is the period of time during which any person currently a controlling person of the Applicant, if any, was a controlling person, and during which any person currently a member of the Board of Directors or executive management of the applicant. With respect to natural persons, the time period covered is the period of time beginning with such person's majority ownership.
could not the "definition" of a natural person be one who was not involved during the application process?
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