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12 U.S.C. § 377 — Repealed. Pub. L. 106–102, title I, § 101(a), Nov. 12, 1999, 113 Stat. 1341
Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, acts June 16, 1933, ch. 89, § 20, 48 Stat. 188; Aug. 23, 1935, ch. 614, title II, § 203(a), title III, § 302, 49 Stat. 704, 707, prohibited member banks from affiliating with organizations dealing in securities and provided for penalties.
#### Effective Date of Repeal
Repeal effective 120 days after Nov. 12, 1999, see section 161 of Pub. L. 106–102, set out as an Effective Date of 1999 Amendment note under [section 24 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section24&num=0&edition=prelim).
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Source file: Laws/federal/codes/united-states-code/title-12/section-377-repealed-pub-l-106102-title-i-101-a-nov-12-1999-113-stat-1341--e4324680c1.md
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Source location: Title 12, Chapter 3, § 377; chapter-003-federal-reserve-system.md
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### Statutory Notes
Section, acts June 16, 1933, ch. 89, § 20, 48 Stat. 188; Aug. 23, 1935, ch. 614, title II, § 203(a), title III, § 302, 49 Stat. 704, 707, prohibited member banks from affiliating with organizations dealing in securities and provided for penalties.
#### Effective Date of Repeal
Repeal effective 120 days after Nov. 12, 1999, see section 161 of Pub. L. 106–102, set out as an Effective Date of 1999 Amendment note under [section 24 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section24&num=0&edition=prelim).
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Federal law — U.S. Code and appendices · legal_authorities
Upon duly making and filing articles of association and an organization certificate a national banking association shall become, as from the date of the execution of its organization certificate, a body corporate, and as such, and in the name designated in the organization certificate, it shall have power—
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Representations of deposit insurance**
(1) **Insured depository institutions**
(A) *In general* — Each insured depository institution shall display at each place of business maintained by that institution a sign or signs relating to the insurance of the deposits of the institution, in accordance with regulations to be prescribed by the Corporation.
(B) *Statement to be included* — Each sign required under subparagraph (A) shall include a statement that insured deposits are backed by the full faith and credit of the United States Government.
(2) **Regulations** — The Corporation shall prescribe regulations to carry out this subsection, including regulations governing the substance of signs required by paragraph (1) and the manner of display or use of such signs.
(3) **Penalties** — For each day that an insured depository institution continues to violate paragraph (1) or any regulation issued under paragraph (2), it shall be subject to a penalty of not more than $100, which the Corporation may recover for its use.
(4) **False advertising, misuse of FDIC names, and misrepresentation to indicate insured status**
(A) *Prohibition on false advertising and misuse of FDIC names* — No person may represent or imply that any deposit liability, obligation, certificate, or share is insured or guaranteed by the Corporation, if such deposit liability, obligation, certificate, or share is not insured or guaranteed by the Corporation—
(i) by using the terms “Federal Deposit”, “Federal Deposit Insurance”, “Federal Deposit Insurance Corporation”, any combination of such terms, or the abbreviation “FDIC” as part of the business name or firm name of any person, including any corporation, partnership, business trust, association, or other business entity; or
(ii)
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Federal law — U.S. Code and appendices · legal_authorities
Page 155
TITLE 12—BANKS AND BANKING
§ 378
Par. (5). Pub. L. 102–242, § 306(d)(1), added par. (5).
Par. (7). Pub. L. 102–242, § 306(e), added par. (7).
Par. (8). Pub. L. 102–242, § 306(f), struck out ‘‘bank
holding’’ before ‘‘company of which the member’’.
Par. (9)(E). Pub. L. 102–242, § 306(g), added subpar. (E).
Par. (9)(F). Pub. L. 102–242, § 306(h), struck out last
sentence of subpar. (F) which read as follows: ‘‘For pur-
poses of paragraph (4), if a member bank has its main
banking office in a city, town, or village with a popu-
lation of less than 30,000, the preceding sentence shall
apply with ‘18 percent’ substituted for ‘10 percent’.’’
1982—Par. (2). Pub. L. 97–320, § 422, substituted ‘‘an
amount prescribed in a regulation of the appropriate
Federal banking agency’’ for ‘‘$25,000’’.
Par. (6)(C) to (F). Pub. L. 97–320, § 410(e), redesignated
subpars. (D) to (G) as (C) to (F), respectively. Former
subpar. (C), relating to definition of term ‘‘extension of
credit’’, was struck out.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 2010 AMENDMENT
Pub. L. 111–203, title VI, § 614(b), July 21, 2010, 124
Stat. 1614, provided that: ‘‘The amendments made by
this section [amending this section] shall take effect 1
year after the transfer date.’’
[For definition of ‘‘transfer date’’ as used in section
614(b) of Pub. L. 111–203, set out above, see section 5301
of this title.]
EFFECTIVE DATE OF 1992 AMENDMENT
Amendment by section 1605(a)(10) of Pub. L. 102–550
effective as if included in the Federal Deposit Insur-
ance Corporation Improvement Act of 1991, Pub. L.
102–242, as of Dec. 19, 1991, see section 1609 of Pub. L.
102–550, set out as a note under section 191 of this title.
EFFECTIVE DATE OF 1991 AMENDMENT
Pub. L. 102–242, title III,
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