Page:United States Statutes at Large Volume 110 Part 4.djvu/640

 110 STAT. 3009-477 PUBLIC LAW 104-208—SEPT. 30, 1996 "(ii) all of the capital stock of which is owned by 1 or more insured banks; and "(B) any limited liability company— "(i) which is organized to perform services authorized by this Act; and "(ii) all of the members of which are 1 or more insured banks."; (2) in paragraph (6)— (A) by striking "corporation" and inserting "company"; and (B) by striking "and" after the semicolon; (3) by redesignating paragraph (7) as paragraph (8) and inserting after paragraph (6) the following new paragraph: "(7) the term 'limited liability company' means any company, partnership, trust, or similar business entity organized under the law of a State (as defined in section 3 of the Federal Deposit Insurance Act) which provides that a member or manager of such company is not personally liable for a debt, obligation, or liability of the company solely by reason of being, or acting as, a member or manager of such company; and"; and (4) in paragraph (8) (as so redesignated)— (A) by striking "corporation" each place such term appears and inserting "company"; and (B) by striking "capital stock" and inserting "equity". (c) AMENDMENTS TO SECTION 2. —Section 2 of the Bank Service Corporation Act (12 U.S.C. 1862) is amended— (1) by striking "corporation" and inserting "company"; (2) by striking "corporations" and inserting "companies"; and (3) in the heading for such section, by striking "CORPORA- TION" and inserting "COMPANY". (d) AMENDMENTS TO SECTION 3. —Section 3 of the Bank Service Corporation Act (12 U.S.C. 1863) is amended— (1) by striking "corporation" each place such term appears and inserting "company"; and (2) in the heading for such section, by striking "CORPORA- TION" and inserting "COMPANY". (e) AMENDMENTS TO SECTION 4.—Section 4 of the Bank Service Corporation Act (12 U.S.C. 1864) is amended— (1) by striking "corporation" each place such term appears and inserting "company"; (2) in subsection (b), by inserting "or members" after "shareholders" each place such term appears; (3) in subsections (c) and (d), by inserting "or member" after "shareholder" each place such term appears; (4) in subsection {e}— (A) by inserting "or members" after "national bank and State bank shareholders"; (B) by striking "its national bank shareholder or shareholders" and inserting "any shareholder or member of the company which is a national bank"; (C) by striking "its State bank shareholder or shareholders" and inserting "any shareholder or member of the company which is a State bank"; (D) by striking "such State bank or banks" and inserting "any such State bank"; and

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