12 USC § 1971 - Definitions

---
identifier: "/us/usc/t12/s1971"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 1971 - Definitions"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "1971"
section_name: "Definitions"
chapter_number: 22
chapter_name: "TYING ARRANGEMENTS"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(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.)"
---


# § 1971. Definitions

section 1841 of this titlesection 1841 of this titlesection 24a(a) of this title

As used in this chapter, the terms “bank”, “bank holding company”, “subsidiary”, and “Board” have the meaning ascribed to such terms in . For purposes of this chapter only, the term “company”, as used in , 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  shall be deemed to be a subsidiary of a bank holding company, and not a subsidiary of a bank.

---

**Source Credit**: (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.)

## Editorial Notes

### Amendments

1999— inserted at end “For purposes of this chapter, a financial subsidiary of a national bank engaging in activities pursuant to  shall be deemed to be a subsidiary of a bank holding company, and not a subsidiary of a bank.”

## Statutory Notes and Related Subsidiaries

### Effective Date of 1999 Amendment

Amendment by  effective 120 days after , see , set out as a note under .