§ 1850. — Acquisition of subsidiary and tying arrangement: Federal Reserve Board proceedings; application for authorization; competitor as party in interest and person aggrieved; judicial review.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC1850]
TITLE 12--BANKS AND BANKING
CHAPTER 17--BANK HOLDING COMPANIES
Sec. 1850. Acquisition of subsidiary and tying arrangement:
Federal Reserve Board proceedings; application for
authorization; competitor as party in interest and person
aggrieved; judicial review
With respect to any proceeding before the Federal Reserve Board
wherein an applicant seeks authority to acquire a subsidiary which is a
bank under section 1842 of this title or to engage in an activity
otherwise prohibited under chapter 22 of this title, a party who would
become a competitor of the applicant or subsidiary thereof by virtue of
the applicant's or its subsidiary's acquisition, entry into the business
involved, or activity, shall have the right to be a party in interest in
the proceeding and, in the event of an adverse order of the Board, shall
have the right as an aggrieved party to obtain judicial review thereof
as provided in section 1848 of this title or as otherwise provided by
law.
(Pub. L. 91-607, title I, Sec. 105, Dec. 31, 1970, 84 Stat. 1766; Pub.
L. 106-102, title I, Sec. 102(b)(1), Nov. 12, 1999, 113 Stat. 1341.)
Codification
Section was enacted as part of the Bank Holding Company Act
Amendments of 1970, and not as part of the Bank Holding Company Act of
1956 which comprises this chapter.
Amendments
1999--Pub. L. 106-102 struck out ``, to engage directly or
indirectly in a nonbanking activity pursuant to section 1843 of this
title,'' after ``section 1842 of this title''.
Effective Date of 1999 Amendment
Amendment by Pub. L. 106-102 effective 120 days after Nov. 12, 1999,
see section 161 of Pub. L. 106-102, set out as a note under section 24
of this title.
Section Referred to in Other Sections
This section is referred to in sections 1841, 3106 of this title.
