{"identifier":"/us/usc/t7/s27","title":7,"num":"\u00a7\u202f27.","heading":"Definitions","text":"\u00a7\u202f27.\nDefinitions\n(a)\nBank\nIn sections 27 to 27f of this title, the term \u201cbank\u201d means\u2014\n(1) any depository institution (as defined in\nsection 1813(c) of title 12\n(2) any foreign bank or branch or agency of a foreign bank (each as defined in\nsection 3101 of title 12\n(3) any Federal or State credit union (as defined in\nsection 1752 of title 12\n(4) any corporation organized under section 25A of the Federal Reserve Act [\n12 U.S.C. 611\n(5) any corporation operating under section 25 of the Federal Reserve Act [\n12 U.S.C. 601\n(6) any trust company; or\n(7) any subsidiary of any entity described in paragraph\n1\n1 So in original. Probably should be \u201cparagraphs\u201d.\nsection 78c of title 15\nsection 1a of this title\n(b)\nIdentified banking product\nIn sections 27 to 27f of this title, the term \u201cidentified banking product\u201d shall have the same meaning as in paragraphs (1) through (5) of section 206(a) of the Gramm-Leach-Bliley Act, except that in applying such section for purposes of sections 27 to 27f of this title\u2014\n(1) the term \u201cbank\u201d shall have the meaning given in subsection (a) of this section; and\n(2) the term \u201cqualified investor\u201d means eligible contract participant (as defined in\nsection 1a of this title\nDecember 21, 2000\n(c)\nHybrid instrument\nIn sections 27 to 27f of this title, the term \u201chybrid instrument\u201d means an identified banking product not excluded by\nsection 27a of this title\nsection 1a of this title","url":"https://projectusc.org/usc/t7/s27.html","content":[{"t":"sec","id":"/us/usc/t7/s27","children":[{"t":"num","text":"\u00a7\u202f27."},{"t":"heading","text":"Definitions"},{"t":"subsec","id":"/us/usc/t7/s27/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"Bank"},{"t":"chapeau","text":"In sections 27 to 27f of this title, the term \u201cbank\u201d means\u2014"},{"t":"para","id":"/us/usc/t7/s27/a/1","children":[{"t":"num","text":"(1)"},{"t":"content","text":" any depository institution (as defined in ","children":[{"t":"ref","text":"section 1813(c) of title 12","href":"/us/usc/t12/s1813/c","tail":");"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t7/s27/a/2","children":[{"t":"num","text":"(2)"},{"t":"content","text":" any foreign bank or branch or agency of a foreign bank (each as defined in ","children":[{"t":"ref","text":"section 3101 of title 12","href":"/us/usc/t12/s3101","tail":");"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t7/s27/a/3","children":[{"t":"num","text":"(3)"},{"t":"content","text":" any Federal or State credit union (as defined in ","children":[{"t":"ref","text":"section 1752 of title 12","href":"/us/usc/t12/s1752","tail":");"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t7/s27/a/4","children":[{"t":"num","text":"(4)"},{"t":"content","text":" any corporation organized under section 25A of the Federal Reserve Act [","children":[{"t":"ref","text":"12 U.S.C. 611","href":"/us/usc/t12/s611","tail":" et seq.];"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t7/s27/a/5","children":[{"t":"num","text":"(5)"},{"t":"content","text":" any corporation operating under section 25 of the Federal Reserve Act [","children":[{"t":"ref","text":"12 U.S.C. 601","href":"/us/usc/t12/s601","tail":" et seq.];"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t7/s27/a/6","children":[{"t":"num","text":"(6)"},{"t":"content","text":" any trust company; or","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t7/s27/a/7","children":[{"t":"num","text":"(7)"},{"t":"content","text":" any subsidiary of any entity described in paragraph\u202f","children":[{"t":"ref","text":"1"},{"t":"num","text":"1","tail":"\u202fSo in original. Probably should be \u201cparagraphs\u201d."},{"t":"text","text":"\u202fSo in original. Probably should be \u201cparagraphs\u201d.","tail":" (1) through (6) of this subsection, if the subsidiary is regulated as if the subsidiary were part of the entity and is not a broker or dealer (as such terms are defined in "},{"t":"ref","text":"section 78c of title 15","href":"/us/usc/t15/s78c","tail":") or a futures commission merchant (as defined in "},{"t":"ref","text":"section 1a of this title","href":"/us/usc/t7/s1a","tail":")."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t7/s27/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Identified banking product"},{"t":"chapeau","text":"In sections 27 to 27f of this title, the term \u201cidentified banking product\u201d shall have the same meaning as in paragraphs (1) through (5) of section 206(a) of the Gramm-Leach-Bliley Act, except that in applying such section for purposes of sections 27 to 27f of this title\u2014"},{"t":"para","id":"/us/usc/t7/s27/b/1","children":[{"t":"num","text":"(1)"},{"t":"content","text":" the term \u201cbank\u201d shall have the meaning given in subsection (a) of this section; and","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t7/s27/b/2","children":[{"t":"num","text":"(2)"},{"t":"content","text":" the term \u201cqualified investor\u201d means eligible contract participant (as defined in ","children":[{"t":"ref","text":"section 1a of this title","href":"/us/usc/t7/s1a","tail":", as in effect on "},{"t":"text","text":"December 21, 2000","tail":")."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t7/s27/c","children":[{"t":"num","text":"(c)"},{"t":"heading","text":"Hybrid instrument"},{"t":"content","children":[{"t":"p","text":"In sections 27 to 27f of this title, the term \u201chybrid instrument\u201d means an identified banking product not excluded by ","children":[{"t":"ref","text":"section 27a of this title","href":"/us/usc/t7/s27a","tail":", offered by a bank, having one or more payments indexed to the value, level, or rate of, or providing for the delivery of, one or more commodities (as defined in "},{"t":"ref","text":"section 1a of this title","href":"/us/usc/t7/s1a","tail":")."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}