operate
verb

to be in force

Examples
  • The new terms of service will operate from January 1st.

  • The rules operate on inland postal services only.

"...the company gets valuable restaurant locations which will be converted to the family-style restaurant chain that it operates and franchises throughout most parts of the US" [Fortune]

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regional bank
sole proprietorship
Chicago Board Options Exchange (CBOE)
Chicago Mercantile Exchange (CME)
merchant bank
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basis swap
written resolution
credit reference agency
corporate
voluntary liquidation