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12 U.S.C. § 522 — Federal Reserve branch bank buildings
Federal law — U.S. Code and appendices · legal_authorities
No Federal Reserve bank may authorize the acquisition or construction of any branch building, or enter into any contract or other obligation for the acquisition or construction of any branch building, without the approval of the Board.
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Source file: Laws/federal/codes/united-states-code/title-12/section-522-federal-reserve-branch-bank-buildings--2c2a35483f.md
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Source location: Title 12, Chapter 3, § 522; chapter-003-federal-reserve-system.md
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No Federal Reserve bank may authorize the acquisition or construction of any branch building, or enter into any contract or other obligation for the acquisition or construction of any branch building, without the approval of the Board.
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Federal law — U.S. Code and appendices · legal_authorities
The Board of Governors of the Federal Reserve System (hereinafter referred to as the “Board”) shall be composed of seven members, to be appointed by the President, by and with the advice and consent of the Senate, after August 23, 1935, for terms of fourteen years except as hereinafter provided, but each appointive member of the Federal Reserve Board in office on such date shall continue to serve as a member of the Board until February 1, 1936, and the Secretary of the Treasury and the Comptroller of the Currency shall continue to serve as members of the Board until February 1, 1936. In selecting the members of the Board, not more than one of whom shall be selected from any one Federal Reserve district, the President shall have due regard to a fair representation of the financial, agricultural, industrial, and commercial interests, and geographical divisions of the country. In selecting members of the Board, the President shall appoint at least 1 member with demonstrated primary experience working in or supervising community banks having less than $10,000,000,000 in total assets. The members of the Board shall devote their entire time to the business of the Board and shall each receive basic compensation at the rate of $15,000 per annum, payable monthly, together with actual necessary traveling expenses.
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Federal law — U.S. Code and appendices · legal_authorities
The short title of the Act of December 23, 1913, ch. 6, 38 Stat. 251, shall be the “Federal Reserve Act.”
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Federal law — U.S. Code and appendices · legal_authorities
Page 180
TITLE 12—BANKS AND BANKING
§ 506
L. 95–630 set out as an Effective Date of 1978 Amend-
ment note under section 93 of this title.
§ 506. Notice after separation from service
The resignation, termination of employment
or participation, or separation of an institution-
affiliated party (within the meaning of section
1813(u) of this title) with respect to a member
bank (including a separation caused by the clos-
ing of such a bank) shall not affect the jurisdic-
tion and authority of the Board to issue any no-
tice and proceed under this section against any
such party, if such notice is served before the
end of the 6-year period beginning on the date
such party ceased to be such a party with re-
spect to such bank (whether such date occurs be-
fore, on, or after August 9, 1989).
(Dec. 23, 1913, ch. 6, § 19(m), as added Pub. L.
101–73, title IX, § 905(g), Aug. 9, 1989, 103 Stat.
461.)
Editorial Notes
REFERENCES IN TEXT
This section, referred to in text, means section 19 of
act Dec. 23, 1913, which is classified to sections 142, 371b,
371b–1, 374, 374a, 461, 463 to 466, 505, and 506 of this title.
SUBCHAPTER XVII—RESERVE-BANK
BRANCHES
§ 521. Reserve-bank branches; establishment; di-
rectors; discontinuance of branches; ap-
proval for erection of branch bank building
The Board of Governors of the Federal Reserve
System may permit or require any Federal re-
serve bank to establish branch banks within the
Federal reserve district in which it is located or
within the district of any Federal reserve bank
which may have been suspended. Such branches,
subject to such rules and regulations as the
Board of Governors of the Federal Reserve Sys-
tem may prescribe, shall be operated under the
supervision of a board of directors to consist of
not more th
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 522
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