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12 U.S.C. § 142 — Banks in reserve cities; reserves

submitted 113 years ago by Congress to r/title-12-BANKS-AND-BANKING · 26 words · no verdicts yet

in plain englishAI-generated · not legal advice

National banks located in reserve cities or central reserve cities must keep the same reserves that section 462 of this title requires for banks in those cities.

National banking associations located in reserve cities or central reserve cities must maintain the reserves that section 462 of this title requires for banks located there.
the actual law source: uscode.house.gov ↗public domain

National banking associations located in reserve cities or central reserve cities shall maintain reserves provided for in section 462 of this title for banks so located.

Source credit: (R.S. § 5191 (part); Dec. 23, 1913, ch. 6, §§ 19, 27, 38 Stat. 270, 274; Aug. 4, 1914, ch. 225, 38 Stat. 682; Aug. 15, 1914, ch. 252, 38 Stat. 691; June 21, 1917, ch. 32, § 10, 40 Stat. 239.)

history & why it existsrecord from the source credit
  • 1913Enacted · Act of Dec. 23, 1913, ch. 6 · 38 Stat. 270, 274
  • 1914Amended · Act of Aug. 4, 1914, ch. 225 · 38 Stat. 682
  • 1914Amended · Act of Aug. 15, 1914, ch. 252 · 38 Stat. 691
  • 1917Amended · Act of June 21, 1917, ch. 32 · 40 Stat. 239

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