dreamproit/uscode huggingface dataset:
12 U.S.C. § 122a (BANKS AND BANKING)
§ 122a. Redeemed notes of unidentifiable issue; funds charged against
Federal Reserve bank notes redeemed by the Treasurer of the United States under section 121a of this title shall be charged against the balance of deposits for the retirement of Federal Reserve bank notes under the provisions of sections 122 and 445 1 of this title; and charges for Federal Reserve notes redeemed by the Treasurer of the United States under section 121a of this title shall be apportioned among the twelve Federal Reserve banks as determined by the Board of Governors of the Federal Reserve System.
(June 13, 1933, ch. 62, § 2, 48 Stat. 128; Pub. L. 89–427, § 4(b), May 20, 1966, 80 Stat. 161; Pub. L. 103–325, title VI, § 602(g)(8)(B), Sept. 23, 1994, 108 Stat. 2294.)
heading: Editorial Notes
heading: References in Text
text: Section 122 of this title, referred to in text, was repealed by Pub. L. 97–258, § 5(b), Sept. 13, 1982, 96 Stat. 1068.
Section 445 of this title, referred to in text, was repealed by act June 12, 1945, ch. 186, § 3, 59 Stat. 238.
heading: Amendments
text: 1994—Pub. L. 103–325 struck out “National-bank notes and” before “Federal Reserve bank notes redeemed” and “national-bank notes and” after “deposits for the retirement of”.
1966—Pub. L. 89–427 substituted provisions allowing the Board of Governors of the Federal Reserve System to determine the proper apportioning between the Federal Reserve banks of the charges for the redemption by the Treasurer of the United States of Federal Reserve notes that are unidentifiable as to bank of issue for provisions that set out the exact formula for determining the proper apportioning of charges using a proportion based upon the amount of Federal Reserve notes of each Federal Reserve bank in circulation in the 31st day of December of the year preceding the date of redemption, with the amount apportioned under the formula charged by the Treas­urer of the United States against deposit in the gold-redemption fund made by the bank or its Federal Reserve agent.
heading: Statutory Notes and Related Subsidiaries
heading: Transfer of Functions
text: For transfer of functions to Secretary of the Treasury, see note set out under section 55 of this title.
12 U.S.C. § 141 (BANKS AND BANKING)
§ 141. Omitted
heading: Editorial Notes
heading: Codification
text: Section, R.S. § 5191 (part); acts Dec. 23, 1913, ch. 6, § 2 (part), 38 Stat. 251; Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704, which set out a list of reserve and central reserve cities and permitted the Board of Governors of the Federal Reserve System to reclassify, add to, or terminate the designation of such cities, was apparently included in the 1926 ed. of the Code on the basis of authorities other than the source credits. Accordingly, and because the continuing accuracy of the table was doubtful, this section was omitted.
Some of the other provisions of R.S. § 5191 are classified to sections 142 and 143 of this title and some were not included in the Code.
For classification of other provisions of section 2 of act Dec. 23, 1913, see Codification note set out under section 222 of this title.
heading: Statutory Notes and Related Subsidiaries
heading: Central Reserve and Reserve Cities
text: Pub. L. 86–114, § 3(b), July 28, 1959, 73 Stat. 263, provided that:
“Effective three years after the date of the enactment of this Act [July 28, 1959]—
“(1) New York and Chicago are reclassified as reserve cities under the Federal Reserve Act;
“(2) the classification ‘central reserve city’ under the Federal Reserve Act, and the authority of the Board of Governors of the Federal Reserve System to classify or reclassify cities as ‘central reserve cities’ under such Act, are terminated;
“(3) section 5192 of the Revised Statutes of the United States (12 U.S.C., sec. 144) is amended by striking out ‘central reserve or’;
“(4) section 2 of the Act of March 3, 1887 (ch. 378; 24 Stat. 560) is repealed;
“(5) the last paragraph of section 2 of the Federal Reserve act (12 U.S.C., sec. 224) is amended by striking out ‘and central reserve cities’;
“(6) section 11(e) of the Federal Reserve Act (12 U.S.C., sec. 248e) is amended by striking out ‘and central reserve’ each place it appears;
“(7) the third paragraph (lettered (a)) of section 19 of the Federal Reserve Act (12 U.S.C., sec. 462) is amended by striking out ‘or central reserve’;
“(8) the fifth paragraph (lettered (c)) of such section 19 is repealed;
“(9) subparagraph (2) of the sixth paragraph of such section 19 (as added by the first section of this Act) is amended by striking out ‘and a member bank in a central reserve city may hold and maintain the reserve balances which are in effect under this section for member banks described in paragraph (a) or (b),’;
“(10) the seventh paragraph of such section 19 is amended by striking out clauses (1), (2), (3), and (4) and inserting in lieu thereof the following: ‘(1) by member banks in reserve cities, (2) by member banks not in reserve cities, or (3) by all member banks’; and
“(11) the seventh paragraph of such section is further amended by striking out ‘and central reserve cities’.”
12 U.S.C. § 142 (BANKS AND BANKING)
§ 142. Banks in reserve cities; reserves
National banking associations located in reserve cities or central reserve cities shall maintain reserves provided for in section 462 of this title for banks so located.
(R.S. § 5191 (part); Dec. 23, 1913, ch. 6, §§ 19, 27, 38 Stat. 270, 274; Aug. 4, 1914, ch. 225, 38 Stat. 682; Aug. 15, 1914, ch. 252, 38 Stat. 691; June 21, 1917, ch. 32, § 10, 40 Stat. 239.)
heading: Editorial Notes
heading: References in Text
text: Section 462 of this title, referred to in text, was omitted from the Code. See section 461 of this title.
heading: Codification
text: R.S. § 5191 derived from act June 3, 1864, ch. 106, § 31, 13 Stat. 108, which was the National Bank Act, and act Mar. 1, 1872, ch. 22, 17 Stat. 32. See section 38 of this title.
Some of the other provisions of R.S. § 5191 were classified to section 141 of this title prior to its omission from the Code, some are classified to section 143 of this title, and some were not included in the Code.
heading: Statutory Notes and Related Subsidiaries
heading: Termination of Central Reserve Cities
text: Central reserve cities terminated, see section 3(b) of Pub. L. 86–114 set out as a note under former section 141 of this title.
12 U.S.C. § 143 (BANKS AND BANKING)
§ 143. Banks in Alaska and insular possessions; lawful money reserves
Every national banking association located in Alaska or in a dependency or insular possession or any part of the United States outside of the continental United States, and not a member of the Federal reserve system, shall at all times have on hand in lawful money of the United States an amount equal to at least 15 percent of the aggregate amount of its deposits in all respects. Whenever the lawful money of any such association shall fall below 15 percent of its deposits such association shall not increase its liabilities by making any new loans or discounts other than by discounting or purchasing bills of exchange payable at sight nor make any dividends of its profits until the required proportion between the aggregate amount of its deposits and its lawful money of the United States has been restored. And the Comptroller of the Currency shall notify any such association whose lawful money reserve shall be below the amount required to be kept on hand to make good such reserve, and if such association shall fail for thirty days thereafter so to make good its lawful money the Comptroller may, with the concurrence of the Secretary of the Treasury, appoint a receiver to wind up the business of the association as provided in section 192 of this title.
(R.S. § 5191 (part).)
heading: Editorial Notes
heading: Codification
text: R.S. § 5191 derived from act June 3, 1864, ch. 106, § 31, 13 Stat. 108, which was the National Bank Act, and act Mar. 1, 1872, ch. 22, 17 Stat. 32. See section 38 of this title.
Some of the other provisions of R.S. § 5191 were classified to section 141 of this title prior to its omission from the Code, some are classified to section 142 of this title, and some were not included in the Code.
heading: Statutory Notes and Related Subsidiaries
heading: Exception as to Transfer of Functions
text: Functions vested by any provision of law in Comptroller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under section 1 of this title.
12 U.S.C. § 144 (BANKS AND BANKING)
§ 144. Certain balances counted toward reserves in dependencies and insular possessions
Four-fifths of the reserve of 15 per centum which a national bank located in a dependency or insular possession or any part of the United States outside of the continental United States, and not a member of the Federal Reserve System, is required to keep, may consist of balances due such bank from associations approved by the Comptroller of the Currency and located in any one of the reserve cities as now or hereafter defined by law or designated by the Board of Governors of the Federal Reserve System.
(R.S. § 5192; July 1, 1952, ch. 536, 66 Stat. 314; Pub. L. 86–70, § 7, June 25, 1959, 73 Stat. 142; Pub. L. 86–114, § 3(b)(3), July 28, 1959, 73 Stat. 263.)
heading: Editorial Notes
heading: Codification
text: R.S. § 5192 derived from act June 3, 1864, ch. 106, § 31, 13 Stat. 108, which was the National Bank Act. See section 38 of this title.
heading: Amendments
text: 1959—Pub. L. 86–114 struck out “central reserve or” before “reserve cities”.
Pub. L. 86–70 struck out “in Alaska or” before “in a dependency”.
1952—Act July 1, 1952, reduced the required amount of cash on hand from two-fifths to one-fifth of the required reserve of 15 per centum.
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date of 1959 Amendment
text: Amendment by Pub. L. 86–114 effective three years after July 28, 1959, see section 3(b) of Pub. L. 86–114, set out as a Central Reserve and Reserve Cities note under former section 141 of this title.
heading: Exception as to Transfer of Functions
text: Functions vested by any provision of law in Comptroller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under section 1 of this title.
12 U.S.C. § 162 (BANKS AND BANKING)
§ 162. Repealed. Pub. L. 86–671, § 6, July 14, 1960, 74 Stat. 552.
text: Section, act Feb. 26, 1881, ch. 82, 21 Stat. 352, prescribed the manner of verification of reports of condition of national banks. See section 1817 of this title.
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date of Repeal
text: Repeal effective Jan. 1, 1961, see section 7 of Pub. L. 86–671, set out as an Effective Date of 1960 Amendment note under section 1817 of this title.
12 U.S.C. § 177a (BANKS AND BANKING)
§ 177a. Funds available for cost of transporting and redeeming national and Federal Reserve bank notes
The cost of transporting and redeeming outstanding national bank notes and Federal Reserve bank notes as may be presented to the Treasurer of the United States for redemption shall be paid from the regular annual appropriation for the Department of the Treasury.
(Oct. 10, 1940, ch. 841, 54 Stat. 1093; Pub. L. 103–325, title VI, § 602(g)(10), Sept. 23, 1994, 108 Stat. 2294.)
heading: Editorial Notes
heading: Amendments
text: 1994—Pub. L. 103–325 amended section generally. Prior to amendment, section read as follows: “After the reimbursement to the Treasury from funds derived from assessments made pursuant to section 177 of this title, of all costs lawfully charged thereto for the fiscal year ending June 30, 1941, the balance of such funds shall be covered into the Treasury as miscellaneous receipts; and thereafter the cost of transporting and redeeming such outstanding national bank notes and Federal Reserve bank notes as may be presented to the Treasurer of the United States for redemption shall be paid from the regular annual appropriations for the Treasury Department.”
12 U.S.C. § 182 (BANKS AND BANKING)
§ 182. Notice of intent to dissolve
Whenever a vote is taken to go into liquidation it shall be the duty of the board of directors to cause notice of this fact to be certified, under the seal of the association, by its president or cashier, to the Comptroller of the Currency, and publication thereof to be made for a period of two months in every issue of a newspaper published in the city or town in which the association is located, or if no newspaper is there published, then in the newspaper published nearest thereto, that the association is closing up its affairs, and notifying its creditors to present their claims against the association for payment.
(R.S. § 5221; Aug. 9, 1955, ch. 626, 69 Stat. 546.)
heading: Editorial Notes
heading: Codification
text: R.S. § 5221 derived from act June 3, 1864, ch. 106, § 42, 13 Stat. 112, which was the National Bank Act. See section 38 of this title.
heading: Amendments
text: 1955—Act Aug. 9, 1955, struck out provisions relating to publication in a newspaper published in the City of New York, and notification to holders of national bank notes to present them for payment.
heading: Statutory Notes and Related Subsidiaries
heading: Exception as to Transfer of Functions
text: Functions vested by any provision of law in Comptroller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under section 1 of this title.
12 U.S.C. § 193 (BANKS AND BANKING)
§ 193. Notice to present claims
The Comptroller shall, upon appointing a receiver, cause notice to be given, by advertisement in such newspapers as he may direct, for three consecutive months, calling on all persons who may have claims against such association to present the same, and to make legal proof thereof.
(R.S. § 5235.)
heading: Editorial Notes
heading: Codification
text: R.S. § 5235 derived from act June 3, 1864, ch. 106, § 50, 13 Stat. 114, which was part of the National Bank Act. See section 38 of this title.
heading: Statutory Notes and Related Subsidiaries
heading: Exception as to Transfer of Functions
text: Functions vested by any provision of law in Comptroller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under section 1 of this title.
heading: Application to District of Columbia
text: Provisions of this section were made applicable to banks, etc., in the District of Columbia by act Mar. 4, 1933, ch. 274, § 4, 47 Stat. 1567.
12 U.S.C. § 194 (BANKS AND BANKING)
§ 194. Dividends on adjusted claims; distribution of assets
From time to time, the comptroller shall make a ratable dividend of the money so paid over to him by such receiver on all such claims as may have been proved to his satisfaction or adjudicated in a court of competent jurisdiction, and, as the proceeds of the assets of such association are paid over to him, shall make further dividends on all claims previously proved or adjudicated; and the remainder of the proceeds, if any, shall be paid over to the shareholders of such association, or their legal representatives, in proportion to the stock by them respectively held.
(R.S. § 5236; Pub. L. 103–325, title VI, § 602(g)(12), Sept. 23, 1994, 108 Stat. 2294.)
heading: Editorial Notes
heading: Codification
text: R.S. § 5236 derived from act June 3, 1864, ch. 106, § 50, 13 Stat. 114, which was the National Bank Act. See section 38 of this title.
heading: Amendments
text: 1994—Pub. L. 103–325 struck out “, after full provision has been first made for refunding to the United States any deficiency in redeeming the notes of such association” after “From time to time”.
heading: Statutory Notes and Related Subsidiaries
heading: Exception as to Transfer of Functions
text: Functions vested by any provision of law in Comptroller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under section 1 of this title.
heading: Application to District of Columbia
text: Provisions of this section were made applicable to banks, etc. in the District of Columbia by act Mar. 4, 1933, ch. 274, § 4, 47 Stat. 1567.
12 U.S.C. § 196 (BANKS AND BANKING)
§ 196. Expenses
All expenses of any preliminary or other examinations into the condition of any association shall be paid by such association. All expenses of any receivership shall be paid out of the assets of such association before distribution of the proceeds thereof.
(R.S. § 5238; Pub. L. 103–325, title VI, § 602(g)(13), Sept. 23, 1994, 108 Stat. 2294.)
heading: Editorial Notes
heading: Codification
text: R.S. § 5238 derived from act June 3, 1864, ch. 106, § 51, 13 Stat. 115, which was the National Bank Act. See section 38 of this title.
heading: Amendments
text: 1994—Pub. L. 103–325 struck out at beginning “All fees for protesting the notes issued by any national banking association shall be paid by the person procuring the protest to be made, and such association shall be liable therefor; but no part of the bonds deposited by such association shall be applied to the payment of such fees.”
12 U.S.C. § 197a (BANKS AND BANKING)
§ 197a. Resumption of business by closed bank on consent of depositors
In any case in which, in the opinion of the Comptroller of the Currency, it would be to the advantage of the depositors and unsecured creditors of any national banking association whose business has been closed, for such association to resume business upon the retention by the association, for a reasonable period to be prescribed by the Comptroller, of all or any part of its deposits, the Comptroller is authorized, in his discretion, to permit the association to resume business if depositors and unsecured creditors of the association representing at least 75 per centum of its total deposit and unsecured credit liabilities consent in writing to such retention of deposits. Nothing in this section shall be construed to affect in any manner any powers of the Comptroller under the provisions of law in force on June 16, 1933, with respect to the reorganization of national banking associations.
(June 16, 1933, ch. 89, § 29, 48 Stat. 193.)
heading: Statutory Notes and Related Subsidiaries
heading: Exception as to Transfer of Functions
text: Functions vested by any provision of law in Comptroller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under section 1 of this title.
12 U.S.C. § 198 (BANKS AND BANKING)
§ 198. Purchase by receiver of property of bank; request to Comptroller
Whenever the receiver of any national bank duly appointed by the Comptroller of the Currency, and who shall have duly qualified and entered upon the discharge of his trust, shall find it in his opinion necessary, in order to fully protect and benefit his said trust, to the extent of any and all equities that such trust may have in any property, real or personal, by reason of any bond, mortgage, assignment, or other proper legal claim attaching thereto, and which said property is to be sold under any execution, decree of foreclosure, or proper order of any court of jurisdiction, he may certify the facts in the case, together with his opinion as to the value of the property to be sold, and the value of the equity his said trust may have in the same, to the Comptroller of the Currency, together with a request for the right and authority to use and employ so much of the money of said trust as may be necessary to purchase such property at such sale.
(Mar. 29, 1886, ch. 28, § 1, 24 Stat. 8.)
heading: Statutory Notes and Related Subsidiaries
heading: Exception as to Transfer of Functions
text: Functions vested by any provision of law in Comptroller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under section 1 of this title.
heading: Application to District of Columbia
text: Provisions of this section were made applicable to banks, etc., in the District of Columbia by act Mar. 4, 1933, ch. 274, § 4, 47 Stat. 1567.
12 U.S.C. § 199 (BANKS AND BANKING)
§ 199. Approval of request
Such request, if approved by the Comptroller of the Currency, shall be, together with the certificate of facts in the case, and his recommendation as to the amount of money which, in his judgment, should be so used and employed, submitted to the Secretary of the Treasury, and if the same shall likewise be approved by him, the request shall be by the Comptroller of the Currency allowed, and notice thereof, with copies of the request, certificate of facts, and indorsement of approvals, shall be filed with the Treasurer of the United States.
(Mar. 29, 1886, ch. 28, § 2, 24 Stat. 8.)
heading: Statutory Notes and Related Subsidiaries
heading: Transfer of Functions
text: For transfer of functions to Secretary of the Treasury, see note set out under section 55 of this title.
heading: Application to District of Columbia
text: Provisions of this section were made applicable to banks, etc., in the District of Columbia by act Mar. 4, 1933, ch. 274, § 4, 47 Stat. 1567.
12 U.S.C. § 200 (BANKS AND BANKING)
§ 200. Payment
Whenever any such request shall be allowed as hereinbefore provided, the said Comptroller of the Currency shall be, and is, empowered to draw upon and from such funds of any such trust as may be deposited with the Treasurer of the United States for the benefit of the bank in interest, to the amount as may be recommended and allowed and for the purpose for which such allowance was made: Provided, however, That all payments to be made for or on account of the purchase of any such property and under any such allowance shall be made by the Comptroller of the Currency direct, with the approval of the Secretary of the Treasury, for such purpose only and in such manner as he may determine and order.
(Mar. 29, 1886, ch. 28, § 3, 24 Stat. 8.)
heading: Statutory Notes and Related Subsidiaries
heading: Transfer of Functions
text: For transfer of functions to Secretary of the Treasury, see note set out under section 55 of this title.
heading: Application to District of Columbia
text: Provisions of this section were made applicable to banks, etc., in the District of Columbia by act Mar. 4, 1933, ch. 274, § 4, 47 Stat. 1567.
12 U.S.C. § 202 (BANKS AND BANKING)
§ 202. Definitions
As used in this subchapter, the term “bank” means any national banking association or any other financial institution chartered or licensed under Federal law and subject to the supervision of the Comptroller of the Currency; the term “voluntary dissolution and liquidation” means a transaction pursuant to section 181 of this title that involves the assumption of the bank’s insured deposit liabilities and the sale of the bank, or of control of the bank, as a going concern; and the term “State” means any State, Territory, or possession of the United States, and the Canal Zone.
(Mar. 9, 1933, ch. 1, title II, § 202, 48 Stat. 2; Pub. L. 101–73, title VIII, § 801, Aug. 9, 1989, 103 Stat. 441; Pub. L. 109–351, title VII, § 725(b), Oct. 13, 2006, 120 Stat. 2001; Pub. L. 109–356, title I, § 123(b), Oct. 16, 2006, 120 Stat. 2028.)
heading: Editorial Notes
heading: References in Text
text: For definition of Canal Zone, referred to in text, see section 3602(b) of Title 22, Foreign Relations and Intercourse.
heading: Amendments
text: 2006—Pub. L. 109–351 and 109–356 amended section identically, substituting “means any national” for “means (1) any national” and striking out “, and (2) any bank or trust company located in the District of Columbia and operating under the supervision of the Comptroller of the Currency” before first semicolon.
1989—Pub. L. 101–73, § 801(1), in cl. (1), extended term “bank” to include any financial institution chartered or licensed under Federal law and subject to supervision of Comptroller of the Currency.
Pub. L. 101–73, § 801(2), in cl. (2), inserted definition of term “voluntary dissolution and liquidation”.