12 U.S.C. § 420 — Control and direction of plates and dies; expense of issue and retirement of notes paid by banks
submitted 113 years ago by ch. 6 to r/title-12-BANKS-AND-BANKING · 94 words · no verdicts yet
The Secretary of the Treasury keeps control over the plates and dies used to print currency. Federal Reserve banks must pay the costs of making, issuing, and retiring these notes. The Federal Reserve Board includes these costs when billing the Federal Reserve banks.
The plates and dies to be procured by the Secretary of the Treasury for the printing of such circulating notes shall remain under his control and direction, and the expenses necessarily incurred in executing the laws relating to the procuring of such notes, and all other expenses incidental to their issue and retirement, shall be paid by the Federal reserve banks, and the Board of Governors of the Federal Reserve System shall include in its estimate of expenses levied against the Federal reserve banks a sufficient amount to cover the expenses herein provided for.
Source credit: (Dec. 23, 1913, ch. 6, § 16 (par.), 38 Stat. 267; Pub. L. 103–325, title VI, § 602(g)(5), Sept. 23, 1994, 108 Stat. 2293.)
- 1913Enacted · Act of Dec. 23, 1913, ch. 6 · 38 Stat. 267
- 1994Amended · Pub. L. 103-325 · 108 Stat. 2293
A history note hasn’t been published yet. The record shows enactment by ch. 6 on 1913-12-23.
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