[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC1863]
TITLE 12--BANKS AND BANKING
CHAPTER 18--BANK SERVICE COMPANIES
Sec. 1863. Permissible bank service company activities for
depository institutions
Without regard to the provisions of sections 1864 and 1865 of this
title, an insured bank may invest in a bank service company that
performs, and a bank service company may perform, the following services
only for depository institutions: check and deposit sorting and posting,
computation and posting of interest and other credits and charges,
preparation and mailing of checks, statements, notices, and similar
items, or any other clerical, bookkeeping, accounting, statistical, or
similar functions performed for a depository institution.
(Pub. L. 87-856, Sec. 3, Oct. 23, 1962, 76 Stat. 1132; Pub. L. 97-320,
title VII, Sec. 709, Oct. 15, 1982, 96 Stat. 1541; Pub. L. 104-208, div.
A, title II, Sec. 2613(d), Sept. 30, 1996, 110 Stat. 3009-477.)
Amendments
1996--Pub. L. 104-208 substituted ``company'' for ``corporation''
wherever appearing in secti
