bank service company
Defined in 1 place of the United States Code.
the term “bank service company” means—
(A) any corporation—
(i) which is organized to perform services authorized by this chapter; and
(ii) all of the capital stock of which is owned by 1 or more insured banks; and
(B) any limited liability company—
(i) which is organized to perform services authorized by this chapter; and
(ii) all of the members of which are 1 or more insured banks.
Source
- 1996–200612 U.S.C. § 1861Banks and Banking · Short title and definitions · in this section
the term “bank service company” means—
(A) any corporation—
(i) which is organized to perform services authorized by this chapter; 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 chapter; and
(ii) all of the members of which are 1 or more insured depository institutions.
Source
- 2006–present12 U.S.C. § 1861Banks and Banking · Short title and definitions · in this section