Qualified family partnership .—

The term “qualified family partnership” means a general or limited partnership that the Board determines—

(A) does not directly control any bank, except through a registered bank holding company;

(B) does not control more than 1 registered bank holding company;

(C) does not engage in any business activity, except indirectly through ownership of other business entities;

(D) has no investments other than those permitted for a bank holding company pursuant to section 1843(c) of this title ;

(E) is not obligated on any debt, either directly or as a guarantor;

(F) has partners, all of whom are either— (i) individuals related to each other by blood, marriage (including former marriage), or adoption; or (ii) trusts for the primary benefit of individuals related as described in clause (i); and

(G) has filed with the Board a statement that includes— (i) the basis for the eligibility of the partnership under subparagraph (F); (ii) a list of the existing activities and investments of the partnership; (iii) a commitment to comply with this paragraph; (iv) a commitment to comply with section 7 of the Federal Deposit Insurance Act [ 12 U.S.C. 1817 ] with respect to any acquisition of control of an insured depository institution occurring after September 30, 1996 ; and (v) a commitment to be subject, to the same extent as if the qualified family partnership were a bank holding company— (I) to examination by the Board to assure compliance with this paragraph; and (II) to section 8 of the Federal Deposit Insurance Act [ 12 U.S.C. 1818 ].