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12 U.S.C. § 177a — Funds available for cost of transporting and redeeming national and Federal Reserve bank notes
submitted 86 years ago by ch. 841 to r/title-12-BANKS-AND-BANKING · 42 words · no verdicts yet
in plain englishAI-generated · not legal advice
This law says who pays to transport and redeem old bank notes. The Treasury Department covers these costs. The money comes from the Department's regular yearly budget.
When people bring national bank notes or Federal Reserve bank notes to the U.S. Treasurer to redeem them, someone has to pay the cost of transporting and redeeming those notes. This section says that cost is paid from the Department of the Treasury's regular annual appropriation — the money Congress gives the Treasury Department each year for its normal operations.
the actual law source: uscode.house.gov ↗public domain
The cost of transporting and redeeming outstanding national bank notes and Federal Reserve bank notes as may be presented to the Treasurer of the United States for redemption shall be paid from the regular annual appropriation for the Department of the Treasury.
Source credit: (Oct. 10, 1940, ch. 841, 54 Stat. 1093; Pub. L. 103–325, title VI, § 602(g)(10), Sept. 23, 1994, 108 Stat. 2294.)
history & why it existsrecord from the source credit
- 1940Enacted · Act of Oct. 10, 1940, ch. 841 · 54 Stat. 1093
- 1994Amended · Pub. L. 103-325 · 108 Stat. 2294
A history note hasn’t been published yet. The record shows enactment by ch. 841 on 1940-10-10.
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