§215b — Title 12 Banks and Banking | U.S. Code

Summary

Defines key words used in this part of the law. State bank — any bank, trust company, savings bank (not a mutual savings bank), or other deposit-taking bank that is formed under a State’s laws or that operates under the District of Columbia Code. State — includes the several States and Territories, the Commonwealth of Puerto Rico, the Virgin Islands, and the District of Columbia. Comptroller — the Comptroller of the Currency. Receiving association — the national bank that results when one or more national banks or one or more State banks in the same State merge into it.

Title 12, §215b

Banks and Banking — Source: USLM XML via OLRC

As used in this subchapter, the term—

(1)“State bank” means any bank, banking association, trust company, savings bank (other than a mutual savings bank), or other banking institution which is engaged in the business of receiving deposits and which is incorporated under the laws of any State, or which is operating under the Code of Law for the District of Columbia;

(2)“State” means the several States and Territories, the Commonwealth of Puerto Rico, the Virgin Islands, and the District of Columbia;

(3)“Comptroller” means the Comptroller of the Currency; and

(4)“Receiving association” means the national banking association into which one or more national banking associations or one or more State banks, located within the same State, merge.

Notes & Related Subsidiaries

Editorial Notes

Codification Provisions similar to those comprising this section were contained in section 5 of act Nov. 7, 1918, ch. 209, as added July 14, 1952, ch. 722, § 1, 66 Stat. 601 (formerly classified to section 34c of this title), prior to the complete amendment and renumbering of act Nov. 7, 1918, by Pub. L. 86–230.

Amendments

2006—Par. (1). Pub. L. 109–351 and 109–356 amended par. (1) identically, striking out “(except a national banking association located in the District of Columbia)” before semicolon at end.

§215b Definitions

Summary

Title 12, §215b

Notes & Related Subsidiaries

Editorial Notes

Amendments

Citations & Metadata