Notes on 12 U.S.C. § 1861 : US Code - Notes

Search Notes on 12 U.S.C. § 1861 : US Code - Notes

(Pub. L. 87-856, Sec. 1, Oct. 23, 1962, 76 Stat. 1132; Pub. L. 97-
320, title VII, Sec. 709, Oct. 15, 1982, 96 Stat. 1540; Pub. L. 97-
457, Sec. 32(a), Jan. 12, 1983, 96 Stat. 2511; Pub. L. 104-208,
div. A, title II, Sec. 2613(a), (b), Sept. 30, 1996, 110 Stat. 3009-
476; Pub. L. 109-351, title VI, Sec. 602(b)(1), Oct. 13, 2006, 120
Stat. 1979.)
AMENDMENTS
2006 - Subsec. (b)(2)(A)(ii), (B)(ii). Pub. L. 109-351, Sec.
602(b)(1)(F), substituted "insured depository institutions" for
"insured banks".
Subsec. (b)(4). Pub. L. 109-351, Sec. 602(b)(1)(A), inserted ",
except when such term appears in connection with the term 'insured
depository institution'," after "means" and substituted "Director
of the Office of Thrift Supervision" for "Federal Home Loan Bank
Board".
Subsec. (b)(5). Pub. L. 109-351, Sec. 602(b)(1)(B), added par.
(5) and struck out former par. (5) which defined "insured bank".
Subsec. (b)(8). Pub. L. 109-351, Sec. 602(b)(1)(G), substituted
"means the insured depository institution" for "means the insured
bank", "insured depository institutions" for "insured banks" in two
places, and "the depository institution's appropriate" for "the
bank's appropriate".
Subsec. (b)(9). Pub. L. 109-351, Sec. 602(b)(1)(C)-(E), added
par. (9).
1996 - Subsec. (a). Pub. L. 104-208, Sec. 2613(a), inserted
heading and amended text of subsec. (a) generally. Prior to
amendment, text read as follows: "This chapter may be cited as the
'Bank Service Corporation Act'."
Subsec. (b)(2). Pub. L. 104-208, Sec. 2613(b)(1), amended par.
(2) generally. Prior to amendment, par. (2) read as follows: "the
term 'bank service corporation' means a corporation organized to
perform services authorized by this chapter, all of the capital
stock of which is owned by one or more insured banks;".
Subsec. (b)(6). Pub. L. 104-208, Sec. 2613(b)(2), substituted
"company" for "corporation" and struck out "and" after semicolon at
end.
Subsec. (b)(7). Pub. L. 104-208, Sec. 2613(b)(3), added par. (7).
Former par. (7) redesignated (8).
Subsec. (b)(8). Pub. L. 104-208, Sec. 2613(b)(4), substituted
"company" for "corporation" wherever appearing and "equity" for
"capital stock".
Pub. L. 104-208, Sec. 2613(b)(3), redesignated par. (7) as (8).
1983 - Subsec. (b)(4). Pub. L. 97-457 substituted "a" for "or
another" after "insured bank," and inserted reference to a
financial institution insured by State law and eligible to be
insured by certain Federal agencies.
1982 - Subsec. (a). Pub. L. 97-320 substituted provision that
this chapter may be cited as the "Bank Service Corporation Act" for
provision that term "Federal supervisory agency" meant the
Comptroller of the Currency, the Board of Governors of the Federal
Reserve System, or the Board of Directors of the Federal Deposit
Insurance Corporation.
Subsec. (b). Pub. L. 97-320 substituted definitions of
"appropriate Federal banking agency", "bank service corporation",
"Board", "depository institution", "insured bank", "invest", and
"principal investor" for provision that term "bank services" meant
services such as check and deposit sorting and posting, computation
and posting of interest and other credits and charges, preparation
and mailing of checks, statements, notices, and similar items, or
any other clerical, bookkeeping, accounting, statistical, or
similar functions performed for a bank.
Subsec. (c). Pub. L. 97-320 redesignated provisions of subsec.
(c) defining "bank service corporation" as (b)(2), and revised
definition.
Subsec. (d). Pub. L. 97-320 redesignated provisions of subsec.
(d) as (b)(6).
TRANSFER OF FUNCTIONS
Federal Savings and Loan Insurance Corporation abolished and
functions transferred, see sections 401 to 406 of Pub. L. 101-73,
set out as a note under section 1437 of this title.