12 U.S.C. § 633 — Potential liability on foreign accounts
submitted 113 years ago by Pub. L. 103-325 to r/title-12-BANKS-AND-BANKING · 106 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
A member bank shall not be required to repay any deposit made at a foreign branch of the bank if the branch cannot repay the deposit due to—
an act of war, insurrection, or civil strife; or
an action by a foreign government or instrumentality (whether de jure or de facto) in the country in which the branch is located;
unless the member bank has expressly agreed in writing to repay the deposit under those circumstances.
The Board and the Comptroller of the Currency may jointly prescribe such regulations as they deem necessary to implement this section.
Source credit: (Dec. 23, 1913, ch. 6, § 25C, as added Pub. L. 103–325, title III, § 326(a), Sept. 23, 1994, 108 Stat. 2229.)
- 1913Enacted · Pub. L. 103-325 · 108 Stat. 2229
A history note hasn’t been published yet. The record shows enactment by Pub. L. 103-325 on 1913-12-23.
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