§ 3201. Definitions

Footnotes

1. 1 See References in Text note below.
2. 2 So in original. The period probably should be a semicolon.

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. 1978

   Depository Institution Management Interlocks Act

   Pub. L. 95–630 title II § 202 · 92 Stat. 3641

   Enacted · 12 U.S.C. § 3201

   Pub. L. 95–630, title II, § 202, Nov. 10, 1978, 92 Stat. 3672

   Source evidence

   Code source credit
   Pub. L. 95–630, title II, § 202, Nov. 10, 1978, 92 Stat. 3672

   Enacted provision · exact public law section
   Sec. 202. As used in this title— (1) the term “depository institution” means a commercial bank, a savings bank, a trust company, a savings and loan association, a building and loan association, a homestead association, a cooperative bank, an industrial bank, or a credit union; (2) the term “depository holding company” means a bank holding company as defined in section 2(a) of the Bank Holding 12 USC 1841. Company Act of 1956, a company which would be a bank holding company as defined in section 2(a) of the Bank Holding Company Act of 1956 but for the exemption contained in section 2(a)(5)(F) thereof, or a savings and loan holding company as defined in 12 USC 1730a. section 408(a)(1)(D) of the National Housing Act; (3) the characterization of any corporation (including depository institutions and depository holding companies), as an “affiliate of,” or as “affiliated” with any other corporation means that— (A) one of the corporations is a depository holding company and the other is a subsidiary thereof, or both corporations are subsidiaries of the same depository holding company, as the term “subsidiary” is defined in either section 2(d) of the Bank Holding Company Act of 1956 in the case of a bank holding company or section 408(a)(1)(H) of the National Housing Act in the case of a savings and loan holding company; or (B) more than 50 per centum of the voting stock of one corporation is beneficially owned in the aggregate by one or more persons who also beneficially own in the aggregate more than 50 per centum of the voting stock of the other corporation; or (C) one of the corporations is a trust company all of the stock of which, except for directors qualifying shares, was owned by one or more mutual savings banks on the date of enactment of this Act, and the other corporation is a mutual savings bank; or (D) one of the corporations is a bank, insured by the Federal Deposit Insurance Corporation and chartered under State law, the voting securities of which are held by other banks, as permitted by State law, and which bank is primarily engaged in providing banking services for other banks and not the public: Provided, however, That in no case shall the voting securities of such corporation lie held by any such other bank in excess of 5 per centum of the paid-in capital and 5 per centum of the surplus of such other hank; or (E) one of the corporations is a bank, chartered under State law and insured by the Federal Deposit Insurance Corporation, the voting securities of which are held only by per-sons who are officers of other banks, as permitted by State law, and which bank is primarily engaged in providing banking services for other banks and not the public: Provided, however, That in no case shall the voting securities or such corporation be held by such officers of other banks in excess of 6 per centum of the paid-in capital and 6 per centum of the surplus of such a bank. (4) the term “management official” means an employee or officer with management functions, a director (including an advisory or honorary director), a trustee of a business organization under the control of trustees, or any person who has a representative or nominee serving in any such capacity: Provided, That if a corporator, trustee, director, or other officer of a State chartered savings bank or cooperative bank is specifically authorized under the laws of the State in which said institution is located to serve as a trustee, director, or other officer of a State-chartered trust company which does not make real estate mortgage loans and does not accept savings deposits from natural persons, then, for the purposes of this title, such corporator, trustee, director, or other officer shall not, be deemed to be a management official of such trust company: And provided further, That if a management official of a State-chartered trust company which does not make real estate mortgage loans and does not accept savings deposits from natural persons is specifically authorized under the laws of the State in which said institution is located to serve as a corporator, trustee, director, or other officer of a State-chartered savings bank or cooperative bank, then, for the purposes of this title, such management official shall not be deemed to be a management official of any such savings bank or cooperative bank; and (5) the term “office” used with reference to a depository institution means either a principal office or a branch.

2. 1988

   Pub. L. 100–650 § 2 · 102 Stat. 3819

   Substituted · 12 U.S.C. § 3201(3)(B)

   Pub. L. 100–650, § 2, substituted “25 percent” for “50 per centum” in two places

   Source evidence

   Code amendment note
   Par. (3)(B). Pub. L. 100–650, § 2, substituted “25 percent” for “50 per centum” in two places.

   Enacted provision · exact public law section
   SEC. 2. AFFILIATION THRESHOLD. Section 202(3)(B) of the Depository Institution Management Inter-locks Act (12 U.S.C. 3201(3)(B)) is amended by striking “50 per centum” each place such term appears and inserting in lieu thereof “25 percent”.

3. 1988

   Pub. L. 100–650 § 3 · 102 Stat. 3819

   Substituted · 12 U.S.C. § 3201(4)

   Pub. L. 100–650, § 3, substituted “(including an advisory or honorary director, except in the case of a depository institution with total assets of less than $100,000,000)” for “(including an advisory or honorary director)”

   Source evidence

   Code amendment note
   Par. (4). Pub. L. 100–650, § 3, substituted “(including an advisory or honorary director, except in the case of a depository institution with total assets of less than $100,000,000)” for “(including an advisory or honorary director)”.

   Enacted provision · exact public law section
   SEC. 3. EXCLUSION OF CERTAIN ADVISORY AND HONORARY DIRECTORS. Section 202(4) of the Depository Institution Management Inter-locks Act (12 U.S.C. 3201(41) is amended by striking out “(including an advisory or honorary director)” and inserting in lieu thereof “(including an advisory or honorary director, except in the case of a depository institution with total assets of less than $100,000,000)”.

4. 1988

   Pub. L. 100–650 § 5(b)(1) · 102 Stat. 3819

   Added · 12 U.S.C. § 3201(6)

   Pub. L. 100–650, § 5(b)(1), added par. (6)

   Source evidence

   Code amendment note
   Par. (6). Pub. L. 100–650, § 5(b)(1), added par. (6).

   Enacted provision · exact public law section
   (1) In general.— Section 202 of the Depository Institution Management Interlocks Act (12 U.S.C. 3202) is amended— (A) by adding at the end thereof the following new paragraph: “(6) the term ’appropriate Federal depository institutions regulatory agency’ means, with respect to any depository institution or depository holding company, the agency referred to in section 209 in connection with such institution or company.”; (B) by striking out “and” at the end of paragraph (4); and (C) by striking out the period at the end of paragraph (5) and inserting in lieu thereof “; and”.

5. 1994

   Riegle Community Development and Regulatory Improvement Act of 1994

   Pub. L. 103–325 title III § 322(c)(2) · 108 Stat. 2160

   Substituted · 12 U.S.C. § 3201(3)(D)

   Pub. L. 103–325 substituted “and is a bankers’ bank, described in Paragraph Seventh of section 24 of this title; or” for “the voting securities of which are held by other banks, as permitted by State law, and which bank is primarily engaged in providing banking services for other banks and not the public: Provided, however, That in no case shall the voting securities of such corporation be held by any such other bank in excess of 5 per centum of the paid-in capital and 5 per centum of the surplus of such other bank; or”

   Source evidence

   Code amendment note
   Par. (3)(D). Pub. L. 103–325 substituted “and is a bankers’ bank, described in Paragraph Seventh of section 24 of this title; or” for “the voting securities of which are held by other banks, as permitted by State law, and which bank is primarily engaged in providing banking services for other banks and not the public: Provided, however, That in no case shall the voting securities of such corporation be held by any such other bank in excess of 5 per centum of the paid-in capital and 5 per centum of the surplus of such other bank; or”.

   Enacted provision · exact public law section
   (2) Management interlocks act.— Section 202(3)(D) of the Depository Institution Management Interlocks Act (12 U.S.C. 3201(3)(D)) is amended by striking “the voting securities” the first place such term appears and all that follows through the end of the subparagraph and inserting “and is a bankers’ bank, described in Paragraph Seventh of section 5136 of the Revised Statutes; or”.

5 of 5 references resolved to an enrolled provision