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§ 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.



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