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12 U.S.C. § 38 — The National Bank Act
submitted 152 years ago by ch. 343 to r/title-12-BANKS-AND-BANKING · 40 words · no verdicts yet
in plain englishAI-generated · not legal advice
This section gives an 1864 law its official short name. That law created a national currency backed by U.S. bonds and set rules for issuing and redeeming it. It is now officially called "The National Bank Act."
This section names an older law. The Act approved June 3, 1864 — titled "An Act to provide a national currency secured by a pledge of United States bonds, and to provide for the circulation and redemption thereof" — is officially known as "The National Bank Act."
the actual law source: uscode.house.gov ↗public domain
The Act entitled “An Act to provide a national currency secured by a pledge of United States bonds, and to provide for the circulation and redemption thereof,” approved June 3, 1864, shall be known as “The National Bank Act.”
Source credit: (June 20, 1874, ch. 343, § 1, 18 Stat. 123.)
history & why it existsrecord from the source credit
- 1874Enacted · Act of June 20, 1874, ch. 343 · 18 Stat. 123
A history note hasn’t been published yet. The record shows enactment by ch. 343 on 1874-06-20.
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