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Code · U.S. Code · Title 26 - INTERNAL REVENUE CODE · CHAPTER 1— NORMAL TAXES AND SURTAXES · Subchapter H— Banking Institutions · § 581

§ 581. Definition of bank

195 words·~1 min read·/usc/title-26/section-581

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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.
(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.)
Connections11 cite this · traces to 1
9 references not yet in our index
  • Aug. 16, 1954, ch. 736
  • 68A Stat. 202
  • Pub. L. 87–722, § 5
  • 76 Stat. 670
  • Pub. L. 94–455, title XIX, § 1901(c)(5)
  • 90 Stat. 1803
  • Pub. L. 94–455
  • Pub. L. 87–722
  • 38 Stat. 262
Citation graph
cites case law
§ 581
Definition of bank
Stat.×10
C.F.R.×1
ActAug. 16, 1954, ch. 736
Stat.68A Stat. 202
Pub. L.Pub. L. 87–722, § 5
Stat.76 Stat. 670
Pub. L.Pub. L. 94–455, title XIX, § 1901(c)(5)
Cites 10 · showing 6Cited by 11 across 2 sources
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