FEDERAL · 26 U.S.C. · Chapter 1
Definition of bank
Current through Pub. L. 119-102
For purposes of sections 582 and 584, the term "bank" means a bank or trust company incorporated and doing business under the laws of the United States (including laws relating to the District of Columbia) or of any State, a substantial part of the business of which consists of receiving deposits and making loans and discounts, or of exercising fiduciary powers similar to those permitted to national banks under authority of the Comptroller of the Currency, and which is subject by law to supervision and examination by State or Federal authority having supervision over banking institutions. Such term also means a domestic building and loan association.
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Related
In Re Richardson
216 B.R. 206 (S.D. Ohio, 1997)
Wheeler v. United States
459 F. Supp. 2d 399 (W.D. Pennsylvania, 2006)
MoneyGram International, Inc. v. Commissioner
664 F. App'x 386 (Fifth Circuit, 2016)
Commonwealth v. Hill
55 Va. Cir. 155 (Fairfax County Circuit Court, 2001)
Fink v. United States
578 F. Supp. 617 (E.D. Missouri, 1983)
Synovus Bank v. SCDOR
(Court of Appeals of South Carolina, 2024)
Source Credit
History
(Aug. 16, 1954, ch. 736, 68A Stat. 202; Pub. L. 87–722, §5, Sept. 28, 1962, 76 Stat. 670; Pub. L. 94–455, title XIX, §1901(c)(5), Oct. 4, 1976, 90 Stat. 1803.)
Editorial Notes
Editorial Notes
Amendments
1976—Pub. L. 94–455 substituted "or of any State" for "of any State, or of any Territory" after "District of Columbia)" and struck out ", Territorial," after "examination by State".
1962—Pub. L. 87–722 substituted "authority of the Comptroller of the Currency" for "section 11(k) of the Federal Reserve Act (38 Stat. 262; 12 U.S.C. 248(k))".
Amendments
1976—Pub. L. 94–455 substituted "or of any State" for "of any State, or of any Territory" after "District of Columbia)" and struck out ", Territorial," after "examination by State".
1962—Pub. L. 87–722 substituted "authority of the Comptroller of the Currency" for "section 11(k) of the Federal Reserve Act (38 Stat. 262; 12 U.S.C. 248(k))".