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12 U.S.C. § 30Change of name or location

submitted 140 years ago by ch. 73 to r/title-12-BANKS-AND-BANKING · 302 words · no verdicts yet

in plain englishAI-generated · not legal advice

A national bank can change its name if it keeps the word "National" in it, just by notifying the Comptroller of the Currency. It can also move its main office, though moving far or across state lines comes with more rules. A bank that converts from a federal savings association can still use "Federal" in its name if it stays insured.

(a) Name change: A national bank can change its name any time. It just has to send written notice to the Comptroller of the Currency. The new name must still include the word "National". (b) Location change: A national bank can move its main office to any of its authorized branches. This works as long as the new location is still within the same city, town, or village. To move outside those limits, the bank needs two things. First, shareholders who own two-thirds of the bank's stock must vote for it. Second, the Comptroller of the Currency must approve the move with a certificate. Even then, the new spot can be inside or outside the original city limits. But it can't be more than 30 miles beyond those limits. (c) Coordination with section 36 of this title: This applies when a national bank moves its main office from one state to another after May 31, 1997. If it does that, it can keep running its branches in the old state. But only to the extent that section 36(e)(2) of this title allows. (d) Retention of "Federal" in name of converted Federal savings association: (1) In general: This rule works even though subsection (a) says a bank's name must include "National". If a Federal savings association converts into a national bank or a state bank after November 12, 1999, it can keep the word "Federal" in its name. It just has to stay an insured depository institution. (2) Definitions: The terms "depository institution," "insured depository institution," "national bank," and "State bank" mean whatever section 1813 of this title says they mean.
the actual law source: uscode.house.gov ↗public domain
(a) Name change

Any national banking association, upon written notice to the Comptroller of the Currency, may change its name, except that such new name shall include the word “National”.

(b) Location change

Any national banking association, upon written notice to the Comptroller of the Currency, may change the location of its main office to any authorized branch location within the limits of the city, town, or village in which it is situated, or, with a vote of shareholders owning two-thirds of the stock of such association for a relocation outside such limits and upon receipt of a certificate of approval from the Comptroller of the Currency, to any other location within or outside the limits of the city, town, or village in which it is located, but not more than thirty miles beyond such limits.

(c) Coordination with section 36 of this title

In the case of a national bank which relocates the main office of such bank from 1 State to another State after May 31, 1997, the bank may retain and operate branches within the State from which the bank relocated such office only to the extent authorized in section 36(e)(2) of this title.

(d) Retention of “Federal” in name of converted Federal savings association
(1) In general

Notwithstanding subsection (a) or any other provision of law, any depository institution, the charter of which is converted from that of a Federal savings association to a national bank or a State bank after November 12, 1999, may retain the term “Federal” in the name of such institution if such institution remains an insured depository institution.

(2) Definitions

For purposes of this subsection, the terms “depository institution”, “insured depository institution”, “national bank”, and “State bank” have the meanings given those terms in section 1813 of this title.

Source credit: (May 1, 1886, ch. 73, § 2, 24 Stat. 18; Pub. L. 86–230, § 3, Sept. 8, 1959, 73 Stat. 457; Pub. L. 97–320, title IV, § 405(a), Oct. 15, 1982, 96 Stat. 1512; Pub. L. 97–457, § 19(a), Jan. 12, 1983, 96 Stat. 2509; Pub. L. 103–328, title I, § 102(b)(2), Sept. 29, 1994, 108 Stat. 2350; Pub. L. 106–102, title VII, § 723, Nov. 12, 1999, 113 Stat. 1471.)

history & why it existsrecord from the source credit
  • 1886Enacted · Act of May 1, 1886, ch. 73 · 24 Stat. 18
  • 1959Amended · Pub. L. 86-230 · 73 Stat. 457
  • 1982Amended · Pub. L. 97-320 · 96 Stat. 1512
  • 1983Amended · Pub. L. 97-457 · 96 Stat. 2509
  • 1994Amended · Pub. L. 103-328 · 108 Stat. 2350
  • 1999Amended · Pub. L. 106-102 · 113 Stat. 1471

A history note hasn’t been published yet. The record shows enactment by ch. 73 on 1886-05-01.

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