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12 U.S.C. § 1971Definitions

submitted 56 years ago by Pub. L. 91-607 to r/title-12-BANKS-AND-BANKING · 135 words · no verdicts yet

in plain englishAI-generated · not legal advice

A translation hasn’t been published for this section yet. The official text below is complete and authoritative.

the actual law source: uscode.house.gov ↗public domain

As used in this chapter, the terms “bank”, “bank holding company”, “subsidiary”, and “Board” have the meaning ascribed to such terms in section 1841 of this title. For purposes of this chapter only, the term “company”, as used in section 1841 of this title, means any person, estate, trust, partnership, corporation, association, or similar organization, but does not include any corporation the majority of the shares of which are owned by the United States or by any State. The term “trust service” means any service customarily performed by a bank trust department. For purposes of this chapter, a financial subsidiary of a national bank engaging in activities pursuant to section 24a(a) of this title shall be deemed to be a subsidiary of a bank holding company, and not a subsidiary of a bank.

Source credit: (Pub. L. 91–607, title I, § 106(a), Dec. 31, 1970, 84 Stat. 1766; Pub. L. 106–102, title I, § 121(c), Nov. 12, 1999, 113 Stat. 1380.)

history & why it existsrecord from the source credit
  • 1970Enacted · Pub. L. 91-607 · 84 Stat. 1766
  • 1999Amended · Pub. L. 106-102 · 113 Stat. 1380

A history note hasn’t been published yet. The record shows enactment by Pub. L. 91-607 on 1970-12-31.

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