Title 12 — Banks and BankingRelease 119-73
§202 Definitions
Title 12 › Chapter CHAPTER 2— - NATIONAL BANKS › Subchapter SUBCHAPTER XIV— - BANK CONSERVATION ACT › § 202
Summary
Defines three terms used here. "Bank" — a federal‑chartered bank supervised by the Comptroller. "Voluntary dissolution and liquidation" — a section 181 sale that takes over insured deposits and sells the bank. "State" — any State, Territory, U.S. possession, and the Canal Zone.
Full Legal Text
Title 12, §202
Banks and Banking — Source: USLM XML via OLRC
As used in this subchapter, the term “bank” means any national banking association or any other financial institution chartered or licensed under Federal law and subject to the supervision of the Comptroller of the Currency; the term “voluntary dissolution and liquidation” means a transaction pursuant to section 181 of this title that involves the assumption of the bank’s insured deposit liabilities and the sale of the bank, or of control of the bank, as a going concern; and the term “State” means any State, Territory, or possession of the United States, and the Canal Zone.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
References in Text
For definition of Canal Zone, referred to in text, see section 3602(b) of Title 22, Foreign Relations and Intercourse.
Amendments
2006—Pub. L. 109–351 and 109–356 amended section identically, substituting “means any national” for “means (1) any national” and striking out “, and (2) any bank or trust company located in the District of Columbia and operating under the supervision of the Comptroller of the Currency” before first semicolon. 1989—Pub. L. 101–73, § 801(1), in cl. (1), extended term “bank” to include any financial institution chartered or licensed under Federal law and subject to supervision of Comptroller of the Currency. Pub. L. 101–73, § 801(2), in cl. (2), inserted definition of term “voluntary dissolution and liquidation”.
Reference
Citations & Metadata
Citation
12 U.S.C. § 202
Title 12 — Banks and Banking
Last Updated
Apr 6, 2026
Release point: 119-73