§ 1971. Definitions

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1970

   Bank Holding Company Act Amendments of 1970

   Pub. L. 91–607 title I § 106(a) · 84 Stat. 1760

   Enacted · 12 U.S.C. § 1971

   Pub. L. 91–607, title I, § 106(a), Dec. 31, 1970, 84 Stat. 1766

   Source evidence

   Code source credit
   Pub. L. 91–607, title I, § 106(a), Dec. 31, 1970, 84 Stat. 1766

   Enacted provision · exact public law section
   (a) As used in this section, the terms “bank”, “bank holding company”, “subsidiary”, and “Board” have the meaning ascribed Ante, p. 1760. to such terms in section 2 of the Bank Holding Company Act of 1956. For purposes of this section only, the term “company”, as used in section 2 of the Bank Holding Company Act of 1956, 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.

2. 1999

   Pub. L. 106–102 title I § 121(c) · 113 Stat. 1338

   Inserted · 12 U.S.C. § 1971

   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.”

   Source evidence

   Code amendment note
   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.”

   Enacted provision · exact public law section
   (c) Antitying.— Section 106(a) of the Bank Holding Company Act Amendments of 1970 (12 U.S.C. 1971) is amended by adding at the end the following: “For purposes of this section, a financial subsidiary of a national bank engaging in activities pursuant to section 5136A(a) of the Revised Statutes of the United States shall be deemed to be a subsidiary of a bank holding company, and not a subsidiary of a bank”.

   Effective date note
   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.

2 of 2 references resolved to an enrolled provision