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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1841&num=0&edition=prelim). For purposes of this chapter only, the term “company”, as used in [section 1841 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1841&num=0&edition=prelim), 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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section24a/a&num=0&edition=prelim) shall be deemed to be a subsidiary of a bank holding company, and not a subsidiary of a bank.
File SHA-256: 1cbce0a03336cce1d62b27a9912c37d8f1bf3c4c33039deea9af349d3980c473. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. This page displays the selected federal record. Historical editions and unverified snapshots are not a statement of current law.
Authority boundary: historical or unconfirmed source not current law verified.
Stable record: federal_law:legal_authorities:record_usc_5fcfe2fe1eff076d4c62c9d2 Source file: Laws/federal/codes/united-states-code/title-12/section-1971-definitions--34eb4468e5.md Pages: Not recorded – Not recorded Passage SHA-256: e4f5557fa9a59255b0fa2ed137dc669db5318f06184f5facb65761734a65181d Retained source evidence SHA-256: 1cbce0a03336cce1d62b27a9912c37d8f1bf3c4c33039deea9af349d3980c473
Source location: Title 12, Chapter 22, § 1971; chapter-022-tying-arrangements.md
Stored source content
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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1841&num=0&edition=prelim). For purposes of this chapter only, the term “company”, as used in [section 1841 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1841&num=0&edition=prelim), 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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section24a/a&num=0&edition=prelim) shall be deemed to be a subsidiary of a bank holding company, and not a subsidiary of a bank.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
§ 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 per-
son, estate, trust, partnership, corporation, as-
sociation, 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 engag-
ing 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, § 106(a), Dec. 31, 1970, 84
Stat. 1766; Pub. L. 106–102, title I, § 121(c), Nov.
12, 1999, 113 Stat. 1380.)
Page 1277
TITLE 12—BANKS AND BANKING
§ 1972
Editorial Notes
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 hold-
ing company, and not a subsidiary of a bank.’’
Statutory Notes and Related Subsidiaries
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.
§ 1972. Certain tying arrangements prohibited;
correspondent accounts
(1) A bank shall not in any manner extend
credit, lease or sell property of any kind, or fur-
nish any service, or fix or vary the consideration
for any