12 U.S.C. § 4007 — Effect on State law
submitted 39 years ago by Pub. L. 100-86 to r/title-12-BANKS-AND-BANKING · 177 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
Any law or regulation of any State* in effect on September 1, 1989, which requires that funds deposited or received for deposit in an account* at a depository institution* chartered by such State be made available for withdrawal in a shorter period of time than the period of time provided in this chapter or in regulations prescribed by the Board* under this chapter (as in effect on September 1, 1989) shall—
supersede the provisions of this chapter and any regulations by the Board to the extent such provisions relate to the time by which funds deposited or received for deposit in an account shall be available for withdrawal; and
apply to all federally insured depository institutions located within such State.
Except as provided in subsection (a), this chapter and regulations prescribed under this chapter shall supersede any provision of the law of any State, including the Uniform Commercial Code as in effect in such State, which is inconsistent with this chapter or such regulations.
Source credit: (Pub. L. 100–86, title VI, § 608, Aug. 10, 1987, 101 Stat. 647.)
- 1987Enacted · Pub. L. 100-86 · 101 Stat. 647
A history note hasn’t been published yet. The record shows enactment by Pub. L. 100-86 on 1987-08-10.
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