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12 U.S.C. § 325 — Examinations

submitted 113 years ago by ch. 6 to r/title-12-BANKS-AND-BANKING · 47 words · no verdicts yet

in plain englishAI-generated · not legal advice

Banks that join the Federal Reserve must accept examinations. The Board of Governors or the regional Reserve Bank directs these examinations.

As a condition of Federal Reserve membership, these banks must also submit to examinations. The Board of Governors of the Federal Reserve System, or the Federal Reserve bank, directs these examinations. The examiners must be selected or approved by the Board of Governors.
the actual law source: uscode.house.gov ↗public domain

As a condition of membership such banks shall likewise be subject to examinations made by direction of the Board of Governors of the Federal Reserve System or of the Federal reserve bank by examiners selected or approved by the Board of Governors of the Federal Reserve System.

Source credit: (Dec. 23, 1913, ch. 6, § 9 (par.), as added June 21, 1917, ch. 32, § 3, 40 Stat. 233; amended 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 · 40 Stat. 233
  • 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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