Source: https://www.law.cornell.edu/uscode/text/12/1862?quicktabs_8=1
Timestamp: 2015-03-06 22:30:18
Document Index: 189467996

Matched Legal Cases: ['§ 1862', '§ 1862', '§ 1862', '§ 2', '§ 709', '§ 2613', '§ 602']

12 U.S. Code § 1862 - Amount of investment in bank service company | LII / Legal Information Institute
U.S. Code › Title 12 › Chapter 18 › § 1862 12 U.S. Code § 1862 - Amount of investment in bank service company
Notwithstanding any limitation or prohibition otherwise imposed by any provision of law exclusively relating to banks or savings associations, other than the limitation on the amount of investment by a Federal savings association contained in section 1464
(c)(4)(B) of this title, an insured depository institution may invest not more than 10 per centum of paid-in and unimpaired capital and unimpaired surplus in a bank service company. No insured depository institution shall invest more than 5 per centum of its total assets in bank service companies.
(Pub. L. 87–856, § 2,Oct. 23, 1962, 76 Stat. 1132; Pub. L. 97–320, title VII, § 709,Oct. 15, 1982, 96 Stat. 1541; Pub. L. 104–208, div. A, title II, § 2613(c),Sept. 30, 1996, 110 Stat. 3009–477; Pub. L. 109–351, title VI, § 602(a), (b)(2),Oct. 13, 2006, 120 Stat. 1978, 1979.)
2006—Pub. L. 109–351inserted “or savings associations, other than the limitation on the amount of investment by a Federal savings association contained in section 1464
(c)(4)(B) of this title” after “relating to banks” and substituted “insured depository institution” for “insured bank” in two places.
1996—Pub. L. 104–208substituted “company” for “corporation” in section catchline and “company” and “companies” for “corporation” and “corporations”, respectively, in text.
1982—Pub. L. 97–320substituted provisions relating to the maximum permissible amount of investment in a bank service corporation by an insured bank for provisions which read as follows: