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§ 1866. —  Services to nonstockholders or nonmembers. - US § 1866. —  Services to nonstockholders or nonmembers. - US Code : CHAN ROBLES VIRTUAL LAW LIBRARY

[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
  January 24, 2002 and December 19, 2002]
[CITE: 12USC1866]

 
                       TITLE 12--BANKS AND BANKING
 
                   CHAPTER 18--BANK SERVICE COMPANIES
 
Sec. 1866. Services to nonstockholders or nonmembers

    No bank service company shall unreasonably discriminate in the 
provision of any services authorized under this chapter to any 
depository institution that does not own stock in or is not a member of 
the service company on the basis of the fact that such depository 
institution is in competition with an institution that owns stock in or 
is a member of the bank service company, except that--
        (1) it shall not be considered unreasonable discrimination for a 
    bank service company to provide services to a nonstockholding or 
    nonmember institution only at a price that fully reflects all of the 
    costs of offering those services, including the cost of capital and 
    a reasonable return thereon; and
        (2) a bank service company may refuse to provide services to a 
    nonstockholding or nonmember institution if comparable services are 
    available from another source at competitive overall costs, or if 
    the providing of services would be beyond the practical capacity of 
    the service company.

(Pub. L. 87-856, Sec. 6, Oct. 23, 1962, as added Pub. L. 97-320, title 
VII, Sec. 709, Oct. 15, 1982, 96 Stat. 1543; amended Pub. L. 104-208, 
div. A, title II, Sec. 2613(g), Sept. 30, 1996, 110 Stat. 3009-478.)


                               Amendments

    1996--Pub. L. 104-208, Sec. 2613(g)(1)-(4), (6), in section 
catchline, inserted ``or nonmembers'' after ``nonstockholders'', and in 
introductory provisions of text, substituted ``company'' for 
``corporation'' wherever appearing and ``such depository institution'' 
for ``the nonstockholding institution'' and inserted ``or is not a 
member of'' after ``does not own stock in'' and ``or is a member of'' 
after ``that owns stock in''.
    Pars. (1), (2). Pub. L. 104-208, Sec. 2613(g)(1), (5), substituted 
``company'' for ``corporation'' wherever appearing and inserted ``or 
nonmember'' after ``nonstockholding''.




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