12 U.S. Code § 1971 - Definitions

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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

(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.)
Amendments

1999—Pub. L. 106–102inserted at end “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.”
Effective Date of 1999 Amendment

Amendment by Pub. L. 106–102effective 120 days after Nov. 12, 1999, see section 161 ofPub. L. 106–102, set out as a note under section 24 of this title.

The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.

The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013

An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.

12 USCDescription of ChangeSession YearPublic LawStatutes at Large

 

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