Pub. L. 87-856, sec. 2 (as amended)

amount of investment in bank service company

Year: 2010Length: 99 wordsOfficial source
amount of investment in bank service company Sec. 2. [12 U.S.C. 1862] 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 5(c)(4)(B) of the Home Owners' Loan Act, 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.
Cross-references to the US Code
12 U.S.C. 1862
Pub. L. 87-856, sec. 2 (as amended): amount of investment in bank service company | Justis AI