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12 U.S.C. § 37 — Associations governed by chapter
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Rules in chapters 2, 3, and 4 of the old Revised Statutes cover "national banking associations." This section says those rules, when written without extra limits, apply to any association formed to do banking business under any Act of Congress.
Certain older banking rules — found in chapters 2, 3, and 4 of title 62 of the Revised Statutes — are written to apply to "national banking associations" or just "associations." Whenever those rules use that language without adding any restriction, this section extends them to cover every association organized to carry on the business of banking under any Act of Congress, not only ones formed under the original national banking laws.
the actual law source: uscode.house.gov ↗public domain
The provisions of chapters 2, 3, and 4 of title 62 of the Revised Statutes, which are expressed without restrictive words, as applying to “national banking associations,” or to “associations,” apply to all associations organized to carry on the business of banking under any Act of Congress.
Source credit: (R.S. § 5157.)
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