For the purposes of this article, the following terms shall have the following meanings:

(1) SERVICE PROVIDER. Any person, company, corporation, or other legal entity that provides a covered service listed in Section 5-3A-33 to a serviced bank.
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Terms Used In Alabama Code 5-3A-32

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • following: means next after. See Alabama Code 1-1-1
  • person: includes a corporation as well as a natural person. See Alabama Code 1-1-1
(2) SERVICED BANK. Every bank, bank holding company, bank service company, or any subsidiary or affiliate of a bank that is subject to the supervision of the superintendent pursuant to Section 5-3A-1, and for which covered services are performed by a service provider.
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