1760 It fl A ^^°^" r^ * u s e 1855.
PUBLIC LAW 91-607-DEC. 31, 1970
^^^^ carrying out the purposes of such Act of September 30, 1950, or ^j^.g j ^ ^ ^ EFFECTIVE DATE
SEC. 304. This Act shall take effect immediately upon its enactment, except that sections 226(b), 237, 241, 252(a), and 254 shall take effect as of August 1, 1969, and sections 231,232, and 233 shall take effect as of April 1, 1970. Approved December 31, 1970.
Public Law 91-607 December 31, 1970 —[H. R. 6778]
c^"^n" Act"^ Amendments of
AN ACT rj^Q amend the Bank Holding Company Act of 1956, and for other purposes.
Be it enacted by the Senate and House of Representatives of the r'n//^efi? States of America in Congress assembled, That this Act may be citcd as the "Bank Holding Company Act Amendments of 1970".
TITLE I—BANK H O L D I N G C O M P A N I E S o*r?an."°^'^'"^ 80 Stat. 236.
SEC. 101. (R) Section 2(a) of the Bank Holding Company Act of 1956 (12 U.S.C. 1841(a)) is amended to read as follows: "SEC. 2. (a)(1) Except as provided in paragraph (5) of this subsection, 'bank holding company' means any company which has control over any bank or over any company that is or becomes a bank holding company by virtue of this Act. " (2) Any company has control over a bank or over any company if— " (A) the company directly or indirectly or acting through one or more other persons owns, controls, or has power to vote 25 per centum or more of any class of voting securities of the bank or company; " (B) the company controls in any manner the election of a majority of the directors or trustees of the bank or company; or