§ 1971. — Definitions.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC1971]
TITLE 12--BANKS AND BANKING
CHAPTER 22--TYING ARRANGEMENTS
Sec. 1971. Definitions
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.
(Pub. L. 91-607, title I, Sec. 106(a), Dec. 31, 1970, 84 Stat. 1766;
Pub. L. 106-102, title I, Sec. 121(c), Nov. 12, 1999, 113 Stat. 1380.)
Amendments
1999--Pub. L. 106-102 inserted 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. 106-102 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 title 7 section 2016.