restricted bank director stock
(2) Restricted bank director stock For purposes of this subsection, the term “restricted bank director stock” means stock in a bank (as defined in section 581) or a depository institution holding company (as defined in section 3(w)(1) of the Federal Deposit Insurance Act ( 12 U.S.C. 1813(w)(1) )), if such stock— (A) is required to be held by an individual under applicable Federal or State law in order to permit such individual to serve as a director, and (B) is subject to an agreement with such bank or company (or a corporation which controls (within the meaning of section 368(c) ) such bank or company) pursuant to which the holder is required to sell back such stock (at the same price as the individual acquired such stock) upon ceasing to hold the office of director.