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Ultra vires activities |
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Ultra vires activitiesCorporate actions and operations that are not sanctioned by corporate charter, sometimes leading to shareholder lawsuits.Ultra vires activities Similar MatchesGrandfathered activitiesGrandfathered activitiesNonbank activities, some of which would normally not be permissible for bank holding companies and foregin banks in the United States, but which were acquired or engaged in before a particular date. Such activities may be continued under the "grandfather" clauses of the Bank Holding Company Act and the International Banking Act. Directly Unproductive Profit-Seeking ActivitiesDirectly Unproductive Profit-Seeking ActivitiesActivities that have no direct productive purpose (neither increasing consumer utility nor contributing to production of a good or service that would increase utility) and are motivated by the desire to make profit, typically from market distortions created by government policies. Examples are rent seeking and revenue seeking. Term coined by Bhagwati (1982). Loss control activitiesLoss control activitiesActions that an insured person or company takes at the instigation of an insurance company in order to prevent accidents or losses. Activities of daily livingActivities of daily livingAn insurance term which refers to the basic things that people need to be able to do in order look after themselves - e.g. wash and feed themselves. People who are not able to carry out ADLs unaided may be eligible for long term care insurance. Permissiable nonbank activitiesPermissiable nonbank activitiesFinancial activities closely related to banking that may be engaged in by bank holding companies (BHCs), either directly or through nonbank subsidiaries. For example, a BHC might own finance companies or engage in mortgage banking. The Federal Reserve Board determines which activities are closely related to banking. Before making such activities permissible, the Board must determine that performance of the activities by bank holding companies is in the public interest. Further SuggestionsShort run operating activitiesDUP Activities |
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