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12 U.S.C. § 1952 — Reports on ownership and control
Federal law — U.S. Code and appendices · legal_authorities
Where the Secretary determines that the making of appropriate reports by uninsured banks or uninsured institutions of any type with respect to their ownership, control, and managements and any changes therein has a high degree of usefulness in criminal, tax, or regulatory investigations or proceedings, he may by regulation require such banks or institutions to make such reports as he determines in respect of such ownership, control, and managements and changes therein.
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Source file: Laws/federal/codes/united-states-code/title-12/section-1952-reports-on-ownership-and-control--bb331a4820.md
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Source location: Title 12, Chapter 21, § 1952; chapter-021-financial-recordkeeping.md
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Where the Secretary determines that the making of appropriate reports by uninsured banks or uninsured institutions of any type with respect to their ownership, control, and managements and any changes therein has a high degree of usefulness in criminal, tax, or regulatory investigations or proceedings, he may by regulation require such banks or institutions to make such reports as he determines in respect of such ownership, control, and managements and changes therein.
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** The Congress finds that certain records maintained by businesses engaged in the functions described in [section 1953(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1953/b&num=0&edition=prelim) have a high degree of usefulness in criminal, tax, and regulatory investigations and proceedings. The Congress further finds that the power to require reports of changes in the ownership, control, and managements of types of financial institutions referred to in [section 1952 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1952&num=0&edition=prelim) may be necessary for the same purpose.
**(b)** It is the purpose of this chapter to require the maintenance of appropriate types of records and the making of appropriate reports by such businesses in the United States where such records or reports have a high degree of usefulness in criminal, tax, or regulatory investigations or proceedings.
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Federal law — U.S. Code and appendices · legal_authorities
Page 1273
TITLE 12—BANKS AND BANKING
§ 1953
Sec.
1952.
Reports on ownership and control.
1953.
Recordkeeping and procedures.
1954.
Injunctions.
1955.
Civil penalties.
1956.
Criminal penalty.
1957.
Additional criminal penalty in certain cases.
1958.
Compliance.
1959.
Administrative procedure.
1960.
Safe harbor with respect to keep open direc-
tives.
§ 1951. Congressional findings and declaration of
purpose
(a) The Congress finds that certain records
maintained by businesses engaged in the func-
tions described in section 1953(b) of this title
have a high degree of usefulness in criminal,
tax, and regulatory investigations and pro-
ceedings. The Congress further finds that the
power to require reports of changes in the own-
ership, control, and managements of types of fi-
nancial institutions referred to in section 1952 of
this title may be necessary for the same pur-
pose.
(b) It is the purpose of this chapter to require
the maintenance of appropriate types of records
and the making of appropriate reports by such
businesses in the United States where such
records or reports have a high degree of useful-
ness in criminal, tax, or regulatory investiga-
tions or proceedings.
(Pub. L. 91–508, title I, § 121, Oct. 26, 1970, 84 Stat.
1116.)
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE
Pub. L. 91–508, title IV, § 401(a), (b), Oct. 26, 1970, 84
Stat. 1125, provided that:
‘‘(a) Except as otherwise provided in this section, ti-
tles I, II, and III of this Act and the amendments made
thereby [enacting this chapter and sections 1730d and
1829b of this title and section 1051 et seq. of former
Title 31, Money and Finance, amending section 78g of
Title 15, Commerce and Trade, and enacting provisions
set out as notes under section 78g
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1952
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