An Act to amend section 9 of the Federal Reserve Act, as amended, and section 5155 of the Revised Statutes, as amended, and for other purposes
PL 82-543 (S.2938), enacted 07/14/1952

66 S T A T . ] 
PUBLIC LAW 544-JULY 15, 1952 
633 
Public Law 543 
CHAPTER 753 
AN ACT 
To amend section 9 of the Federal Reserve Act, as amended, and section 5155 of 
the Revised Statutes, as amended, and for other purposes. 
July IS, 1952 
[S. 2938] 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled^ That the eleventh 
paragraph of section 9 of the Federal Keserve Act, as amended (U. S. 
C , title 12, sec. 329), is amended to read as follows: 
"No applying bank shall be admitted to membership unless it pos-
sesses capital stock and surplus which, in the judgment of the Board 
of Governors of the Federal Reserve System, are adequate in relation 
to the character and condition of its assets and to its existing and 
prospective deposit liabilities and other corporate responsibilities: 
Provided^ That no bank engaged in the business of receiving deposits 
other than trust funds, which does not possess capital stock and surplus 
in an amount ec[ual to that which would be required for the establish-
ment of a national banking association in the place in which it is 
located, shall be admitted to membership unless it is, or has been, 
approved for deposit insurance under the Federal Deposit Insurance 
Act. 
The capital stock of a State member bank shall not be reduced 
except with the prior consent of the Board." 
SEC. 2. (a) The third paragraph of section 9 of the Federal Reserve 
Act, as amended (U. S. C, title 12, sec. 321, third paragraph), is fur-
ther amended by adding at the end thereof a new sentence reading as 
follows: "The approval of the Board shall likewise be obtained before 
any State member bank may establish any new branch within the 
limits of any such city, town, or village (except within the District 
of Columbia)." 
(b) Subsection (c) of section 5155 of the Revised Statutes, as 
amended (U. S. C, title 12, sec. 36 (c)), is further amended by chang-
ing the last sentence of such subsection to read as follows: "Except 
as provided in the immediately preceding sentence, no such associ-
ation shall establish a branch outside of the city, town, or village in 
which it is situated unless it has a combined capital stock and surplus 
equal to the combined amount of capital stock and surplus, if any, 
required by the law of the State in which such association is situ-
ated for the establishment of such branches by State banks, or, if the 
law of such State requires only a minimum capital stock for the estab-
lishment of such branches by State banks, unless such association has 
not less than an equal amount of capital stock." 
Approved July 15, 1952. 
F e d e r a l R« 
serve System. 
38 Stat. 259. 
Member banks. 
Public Law 544 
CHAPTER 754 
AN ACT 
To provide for the conveyance to the town of Dedliam, Maine, of a certain 
strip of land situated in such town and used as a road right-of-way. 
July 15, 1952 
[H. R. 2190] 
Be it enacted hy the Senate and Hou^e of Representatives 
of the 
United States of America in Congress assembled, That the Secretary 
of the Interior is authorized and directed to donate and convey to the 
town of Dedham, Maine, all right, title, and interest of the United 
States in and to a strip of land situated in such town and used as a road 
right-of-way. 
Such land is more particularly described as follows: 
A strip of land three rods in width, a line drawn through the 
middle of which is as follows: Beginning north forty degrees east 
eight and one-half rods from shore of Green Lake at a stone on 
Dedham, Maine. 
Conveyance.