Definition amendment expands statutory coverage to include banks and specified banking categories, removing the prior banking exclusion. Amendment of section 2 removes the banking-company exclusion in clause (4)(a) and deletes a reference to amounts treated under subsection (2) of section ... Summary
Definition amendment expands statutory coverage to include banks and specified banking categories, removing the prior banking exclusion.
Amendment of section 2 removes the banking-company exclusion in clause (4)(a) and deletes a reference to amounts treated under subsection (2) of section 34; it also inserts additional banking categories in clause (8), expressly including certain corresponding new banks and co operative banks within the statute's definition.
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