Source: https://www.law.cornell.edu/uscode/text/31/3122?qt-us_code_tabs=3
Timestamp: 2016-02-07 22:16:03
Document Index: 91097189

Matched Legal Cases: ['§ 3122', '§ 3122', '§ 3122', '§ 18', '§ 8', '§ 1', '§ 8', '§ 5', '§ 14', '§ 7', '§ 2', '§ 4', 'art 306', 'art 357', 'art 370']

31 U.S. Code § 3122 - Banks and trust companies as depositaries | US Law | LII / Legal Information Institute
U.S. Code › Title 31 › Subtitle III › Chapter 31 › Subchapter II › § 3122 31 U.S. Code § 3122 - Banks and trust companies as depositaries
The Secretary of the Treasury may designate incorporated banks and trust companies as depositaries for any part of proceeds of an obligation issued under this chapter. The Secretary may prescribe the conditions under which deposits may be made under this section, including the interest rate on amounts deposited and security requirements.
The Secretary may designate a bank or trust company that is a depositary under subsection (a) of this section as a fiscal agent of the United States Government in selling and delivering bonds and certificates of indebtedness issued by the Government.
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 945.)
Revised Section Source (U.S. Code) Source (Statutes at Large) 3122(a)
31:753(d)(last sentence related to 31:771).
Sept. 24, 1917, ch. 56, 40 Stat. 288, § 18(d)(last sentence related to § 8); added Mar. 3, 1919, ch. 100, § 1, 40 Stat. 1309.
31:771.
Sept. 24, 1917, ch. 56, § 8, 40 Stat. 291; restated Apr. 4, 1918, ch. 44, § 5, 40 Stat. 504; Jan. 30, 1934, ch. 6, § 14(a)(2), 48 Stat. 343; Aug. 27, 1949, ch. 517, § 7(b), 63 Stat. 668; Sept. 21, 1966, Pub. L. 89–597, § 2(d), 80 Stat. 824.
3122(b)
31:772.
July 9, 1918, ch. 142, § 4, 40 Stat. 845.
In the section, the words “war-savings certificates” are omitted because the authority to issue them was ended by section 2(b)(3) of the Public Debt Act of 1941 (ch. 7, 55 Stat. 7).
In subsection (a), the words “in his discretion” are omitted as surplus. The word “obligation” is substituted for “bonds and certificates of indebtedness, Treasury bills” for consistency and to eliminate unnecessary words. The words “and arising from the payment of internal revenue taxes” are omitted as superseded by 26:6302(c). The word “conditions” is substituted for “terms and conditions” because it is inclusive. The words “upon and” are omitted as surplus.
In subsection (b), the words “The Secretary may designate a bank or trust company that is a depositary under subsection (a) of this section” are substituted for “Any incorporated bank or trust company designated as a depositary by the Secretary of the Treasury under the authority conferred by section 771 of this title, which gives security for such deposits as, and to amounts, by him prescribed, may, upon and subject to such terms and conditions as the Secretary of the Treasury may prescribe, act” to eliminate unnecessary words.
This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.31 CFR - Money and Finance: Treasury31 CFR Part 306 - GENERAL REGULATIONS GOVERNING U.S. SECURITIES31 CFR Part 357 - REGULATIONS GOVERNING BOOK-ENTRY TREASURY BONDS, NOTES AND BILLS HELD IN TREASURY/RESERVE AUTOMATED DEBT ENTRY SYSTEM (TRADES) AND LEGACY TREASURY DIRECT31 CFR Part 370 - ELECTRONIC TRANSACTIONS AND FUNDS TRANSFERS RELATING TO UNITED STATES SECURITIES