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12 U.S.C. § 199Approval of request

submitted 140 years ago by ch. 28 to r/title-12-BANKS-AND-BANKING · 93 words · no verdicts yet

in plain englishAI-generated · not legal advice

A request must first be approved by the Comptroller of the Currency. The Comptroller sends it, with facts and a funding recommendation, to the Secretary of the Treasury. If the Secretary also approves, the Comptroller allows the request and notifies the Treasurer of the United States.

This section describes what happens after a certain "request" (described in an earlier part of the law not included here) is submitted. First, the Comptroller of the Currency must approve the request. If approved, the Comptroller sends it — along with a "certificate of facts" about the case and a recommendation on how much money should be used — to the Secretary of the Treasury. If the Secretary of the Treasury also approves it, the Comptroller of the Currency then formally allows the request. Finally, the Comptroller must file a notice of this approval, along with copies of the request, the certificate of facts, and the endorsements of approval from both officials, with the Treasurer of the United States.
the actual law source: uscode.house.gov ↗public domain

Such request, if approved by the Comptroller of the Currency, shall be, together with the certificate of facts in the case, and his recommendation as to the amount of money which, in his judgment, should be so used and employed, submitted to the Secretary of the Treasury, and if the same shall likewise be approved by him, the request shall be by the Comptroller of the Currency allowed, and notice thereof, with copies of the request, certificate of facts, and indorsement of approvals, shall be filed with the Treasurer of the United States.

Source credit: (Mar. 29, 1886, ch. 28, § 2, 24 Stat. 8.)

history & why it existsrecord from the source credit
  • 1886Enacted · Act of Mar. 29, 1886, ch. 28 · 24 Stat. 8

A history note hasn’t been published yet. The record shows enactment by ch. 28 on 1886-03-29.

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