### Question
How is the "cooperative bank" defined?


### Answer
The term **cooperative bank** is defined in *26 U.S.C. § 7701* as follows -

> an institution without capital stock organized and operated for mutual purposes and without profit, which—


(A) is subject by law to supervision and examination by State or Federal authority having supervision over such institutions, and


(B) meets the requirements of subparagraphs (B) and (C) of paragraph (19) of this subsection (relating to definition of domestic building and loan association)

#### Citation:
  - *26 U.S.C. § 7701*
  - Heading: **Subtitle F-Procedure and Administration > CHAPTER 79-DEFINITIONS**

