(a) âAssociationâ or âsavings associationâ means a mutual or stock savings association, savings and loan association or savings bank subject to the provisions of this division, but excluding a federal association. (b) âFederal associationâ means a savings and loan association or federal savings bank that is chartered by the Office of Thrift Supervision under Section 5 of the Home Ownersâ Loan Act of 1933 (12 U.S.C. Sec. 1464), as amended.
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