12 U.S.C. § 374 — Acting as agent for nonmember bank in getting discounts from reserve bank
submitted 113 years ago by ch. 6 to r/title-12-BANKS-AND-BANKING · 44 words · no verdicts yet
A member bank cannot act as a go-between for a nonmember bank trying to get discounts from a Federal Reserve bank, unless the Federal Reserve Board allows it.
No member bank shall act as the medium or agent of a nonmember bank in applying for or receiving discounts from a Federal reserve bank under the provisions of this chapter, except by permission of the Board of Governors of the Federal Reserve System.
Source credit: (Dec. 23, 1913, ch. 6, § 19(e), formerly § 19 (par. 8), 38 Stat. 270; June 21, 1917, ch. 32, § 10, 40 Stat. 239; Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704; renumbered § 19(e), Pub. L. 89–597, § 2(b), Sept. 21, 1966, 80 Stat. 824.)
- 1913Enacted · Act of Dec. 23, 1913, ch. 6 · 38 Stat. 270
- 1917Amended · Act of June 21, 1917, ch. 32 · 40 Stat. 239
- 1935Amended · Act of Aug. 23, 1935, ch. 614 · 49 Stat. 704
- 1966Amended · Pub. L. 89-597 · 80 Stat. 824
A history note hasn’t been published yet. The record shows enactment by ch. 6 on 1913-12-23.
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