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12 U.S.C. § 215b — Definitions

submitted 108 years ago by Pub. L. 86-230 to r/title-12-BANKS-AND-BANKING · 120 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section defines four terms used throughout this subchapter: "State bank," "State," "Comptroller," and "receiving association." It sets which banks and territories count and clarifies what "receiving association" means in a merger.

(1) "State bank" means any bank, banking association, trust company, savings bank (other than a mutual savings bank), or other banking institution that takes deposits and is incorporated under a state's laws, or that operates under the District of Columbia's Code of Law. (2) "State" means the several states and territories, plus the Commonwealth of Puerto Rico, the Virgin Islands, and the District of Columbia. (3) "Comptroller" means the Comptroller of the Currency. (4) "Receiving association" means the national banking association that one or more national banking associations or state banks — located in the same state — merge into.
the actual law source: uscode.house.gov ↗public domain

As used in this subchapter, the term—

(1)

“State bank” means any bank, banking association, trust company, savings bank (other than a mutual savings bank), or other banking institution which is engaged in the business of receiving deposits and which is incorporated under the laws of any State, or which is operating under the Code of Law for the District of Columbia;

(2)

“State” means the several States and Territories, the Commonwealth of Puerto Rico, the Virgin Islands, and the District of Columbia;

(3)

“Comptroller” means the Comptroller of the Currency; and

(4)

“Receiving association” means the national banking association into which one or more national banking associations or one or more State banks, located within the same State, merge.

Source credit: (Nov. 7, 1918, ch. 209, § 7, formerly § 3, as added Pub. L. 86–230, § 20, Sept. 8, 1959, 73 Stat. 465; renumbered § 5, Pub. L. 103–328, title I, § 102(b)(4)(B), Sept. 29, 1994, 108 Stat. 2351; renumbered § 7, Pub. L. 106–569, title XII, § 1204(1), Dec. 27, 2000, 114 Stat. 3033; amended Pub. L. 109–351, title VII, § 725(e), Oct. 13, 2006, 120 Stat. 2002; Pub. L. 109–356, title I, § 123(e), Oct. 16, 2006, 120 Stat. 2029.)

history & why it existsrecord from the source credit
  • 1918Enacted · Pub. L. 86-230 · 73 Stat. 465
  • 1994Amended · Pub. L. 103-328 · 108 Stat. 2351
  • 2000Amended · Pub. L. 106-569 · 114 Stat. 3033
  • 2006Amended · Pub. L. 109-351 · 120 Stat. 2002
  • 2006Amended · Pub. L. 109-356 · 120 Stat. 2029

A history note hasn’t been published yet. The record shows enactment by Pub. L. 86-230 on 1918-11-07.

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