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U.S. Code as of:
01/19/04
Section 1863. Permissible bank service company activities for depository institutions
Without regard to the provisions of sections 1864 and 1865 of
this title, an insured bank may invest in a bank service company
that performs, and a bank service company may perform, the
following services only for depository institutions: check and
deposit sorting and posting, computation and posting of interest
and other credits and charges, preparation and mailing of checks,
statements, notices, and similar items, or any other clerical,
bookkeeping, accounting, statistical, or similar functions
performed for a depository institution.
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