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Section 20, therefore, prohibits BAC's proposed acquisition if Schwab is "engaged principally" in any of the activities listed therein.
Instead, he said, it was a "select emporium engaged principally in the exclusive manufacture, repair, service and sales of this recently developed, fashionable technological tool".
Moreover, the legislative history demonstrates that Congress enacted § 20 to prohibit the affiliation of commercial banks with entities that are engaged principally in activities such as underwriting.
A practical and brief review from the perspective of a clinician scientist engaged principally in the care and study of persons with mTBI therefore may be of use and value to other clinicians and scientists interested in these matters.
Held: The Board has authority under § 4(c)(8) of the BHC Act to authorize a bank holding company to acquire a non-banking affiliate engaged principally in retail securities brokerage.
The Board also concluded that the acquisition would not violate § 20 of the Glass-Steagall Act, which prohibits a bank (BAC's banking subsidiary here) from being affiliated with companies "engaged principally in the issue, flotation, underwriting, public sale, or distribution" of securities.
Similar(46)
In 2005, MANAFORT and another partner created Davis Manafort Partners, Inc. (DMP) to engage principally in political consulting.
In the "red 1930s", many young economists favoured Marxist views, even in Cambridge, and while Keynes was engaging principally with the right to try to persuade them of the merits of more progressive policy, the most vociferous criticism against him came from the left, who saw him as a supporter of capitalism.
The company, chartered in 1407, principally engaged in the export of finished cloth from the burgeoning English woolen industry.
That might seem to rule out auto dealers, which, after all, are principally engaged in selling cars and trucks.
"Some of the largest and most consequential failures were firms that were principally engaged in one business".
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