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12 U.S.C. § 40 — Virgin Islands; extension of National Bank Act
submitted 94 years ago by ch. 508 to r/title-12-BANKS-AND-BANKING · 42 words · no verdicts yet
in plain englishAI-generated · not legal advice
This law extends the National Bank Act to the U.S. Virgin Islands. National banking laws apply there the same as on the mainland, starting July 19, 1932.
This section is one sentence. Starting July 19, 1932, the National Bank Act and every other Act of Congress dealing with national banks apply to the Virgin Islands of the United States, except for any part of those laws that does not make sense to apply locally.
the actual law source: uscode.house.gov ↗public domain
The National Bank Act, as amended [12 U.S.C. 21 et seq.], and all other Acts of Congress relating to national banks, shall, insofar as not locally inapplicable after July 19, 1932, apply to the Virgin Islands of the United States.
Source credit: (July 19, 1932, ch. 508, 47 Stat. 703.)
history & why it existsrecord from the source credit
- 1932Enacted · Act of July 19, 1932, ch. 508 · 47 Stat. 703
A history note hasn’t been published yet. The record shows enactment by ch. 508 on 1932-07-19.
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