### Question
How does SAVINGS ASSOCIATIONS define covered savings association?


### Answer
Under *12 U.S.C. § 1464a*, **covered savings association** is defined as:

> a Federal savings association that makes an election that is approved under subsection (b)

#### Citation:
  - *12 U.S.C. § 1464a*
  - Heading: **CHAPTER 12-SAVINGS ASSOCIATIONS**

