---
kind: "section"
citation: "12 U.S.C. § 1971"
title: "12"
title_heading: "Banks and Banking"
number: "1971"
heading: "Definitions"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/1971"
units:
  - "Chapter 22 — Tying Arrangements"
---

# §1971. Definitions


As used in this chapter, the terms “bank”, “bank holding company”, “subsidiary”, and “[Board](/usc/12/1861.md?p=b-3)” have the meaning ascribed to such terms in [section 1841 of this title](/usc/12/1841.md). For purposes of this chapter only, the term “company”, as used in [section 1841 of this title](/usc/12/1841.md), means any [person](/usc/12/5481.md?p=19), 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](/usc/12/1707.md?p=d). 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 [section 24a(a) of this title](/usc/12/24a.md?p=a) 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.)

## Notes

### Editorial Notes

### Amendments

1999—Pub. L. 106–102 inserted at end “For purposes of this chapter, a financial subsidiary of a national bank engaging in activities pursuant to section 24a(a) of this title 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 Pub. L. 106–102 effective 120 days after Nov. 12, 1999, see section 161 of Pub. L. 106–102, set out as a note under section 24 of this title.