Service corporation

Service corporation means any entity that satisfies all of the requirements for service corporations in 12 U.S.C. 1464(c)(4)(B) and 559.3 of this part and that is designated by the investing savings association as a service corporation pursuant to 559.3 of this part. A service corporation must be organized under the laws of the state where the federal savings association's home office is located, may only be owned by savings associations with home offices in that state, and may engage in the activities identified in 559.3(e)(2) and 559.4 of this part.

Source

12 CFR § 559.2


Scoping language

For purposes of this part:

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