12 U.S.C. § 122a — Redeemed notes of unidentifiable issue; funds charged against
submitted 93 years ago by ch. 62 to r/title-12-BANKS-AND-BANKING · 87 words · no verdicts yet
When the Treasurer redeems Federal Reserve bank notes whose issuing bank can't be identified, that cost gets charged against the fund set aside for retiring those notes under other named sections. The Board of Governors splits those charges among the twelve Federal Reserve banks.
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.
Source credit: (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.)
- 1933Enacted · Act of June 13, 1933, ch. 62 · 48 Stat. 128
- 1966Amended · Pub. L. 89-427 · 80 Stat. 161
- 1994Amended · Pub. L. 103-325 · 108 Stat. 2294
A history note hasn’t been published yet. The record shows enactment by ch. 62 on 1933-06-13.
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