Bank Service Company Law and Legal Definition
According to 12 USCS § 1861 (2), the term bank service company means--
“(A) any corporation--
(i) which is organized to perform services authorized by this Act [12 USCS §§ 1861 et seq.]; and
(ii) all of the capital stock of which is owned by 1 or more insured depository institutions; and
(B) any limited liability company--
(i) which is organized to perform services authorized by this Act [12 USCS §§ 1861 et seq.]; and
(ii) all of the members of which are 1 or more insured depository institutions.”
Legal Definition list
Related Legal Terms
- Absent Uniformed Services Voter
- Abstraction [Banking]
- Acceptable Identification of Goods and Services Manual
- Acceptable Quality Level [Agricultural Marketing Service]
- Acceptance [Agricultural Marketing Service]
- Acceptance of Service Agreement
- Accommodation Maker(Banking)
- Accompanying Relative [Immigration]
- Accompanying Spouse and Dependents
- Accompanying the Armed Forces outside the United States
