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12 U.S.C. § 286 — Transfers of stock; rules and regulations
submitted 113 years ago by ch. 6 to r/title-12-BANKS-AND-BANKING · 24 words · no verdicts yet
in plain englishAI-generated · not legal advice
This law gives the Federal Reserve's Board of Governors the power to write rules. Those rules govern how people transfer "said stock," as the law calls it.
This section is short. It gives one power to one body.
The Board of Governors of the Federal Reserve System may adopt and issue rules and regulations. These rules control how "said stock" — the stock referred to elsewhere in this law but not identified within this section itself — gets transferred from one holder to another. This section does not say what stock it means, so that term is not explained here.
the actual law source: uscode.house.gov ↗public domain
The Board of Governors of the Federal Reserve System is empowered to adopt and promulgate rules and regulations governing the transfers of said stock.
Source credit: (Dec. 23, 1913, ch. 6, § 2 (par.), 38 Stat. 253; Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704.)
history & why it existsrecord from the source credit
- 1913Enacted · Act of Dec. 23, 1913, ch. 6 · 38 Stat. 253
- 1935Amended · Act of Aug. 23, 1935, ch. 614 · 49 Stat. 704
A history note hasn’t been published yet. The record shows enactment by ch. 6 on 1913-12-23.
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