[Code of Federal Regulations]
[Title 26, Volume 7]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.581-3]

[Page 309]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 1_INCOME TAXES--Table of Contents
 
Sec. 1.581-3  Definition of bank prior to September 28, 1962.

    Prior to September 28, 1962, 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), of any State, or of any Territory, 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 section 11(k) of the 
Federal Reserve Act (38 Stat. 262; 12 U.S.C. 248(k)), and which is 
subject by law to supervision and examination by State, Territorial, or 
Federal authority having supervision over banking institutions. Such 
term also means a domestic building and loan association.

[T.D. 6651, 28 FR 4950, May 17, 1963]