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Federal law — U.S. Code and appendices · legal_authorities
No Federal reserve bank shall commence business with a subscribed capital less than $4,000,000.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 281
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Stable record: federal_law:legal_authorities:record_usc_966998f9a7222429b642ca70
Source file: Laws/federal/codes/united-states-code/title-12/section-281-capital--aa1ea5128b.md
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Passage SHA-256: 5c49e341c3587d2af8ef86f422b267f48a5074e045926966bf94c33d69cdab9d
Source location: Title 12, Chapter 3, § 281; chapter-003-federal-reserve-system.md
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Federal law — U.S. Code and appendices · legal_authorities
The organization of reserve districts and Federal reserve cities shall not be construed as changing the present status of reserve cities except in so far as this chapter changes the amount of reserves that may be carried with approved reserve agents located therein.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 224
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Federal law — U.S. Code and appendices · legal_authorities
The continental United States, excluding Alaska, shall be divided into not less than eight nor more than twelve districts. Such districts may be readjusted and new districts may from time to time be created by the Board of Governors of the Federal Reserve System, not to exceed twelve in all: Provided, That the districts shall be apportioned with due regard to the convenience and customary course of business and shall not necessarily be coterminous with any State or States. Such districts shall be known as Federal reserve districts and may be designated by number. When the State of Alaska or Hawaii is hereafter admitted to the Union the Federal Reserve 11 Capitalized as in original. districts shall be readjusted by the Board of Governors of the Federal Reserve System in such manner as to include such State. Every national bank in any State shall, upon commencing business or within ninety days after admission into the Union of the State in which it is located, become a member bank of the Federal Reserve System by subscribing and paying for stock in the Federal Reserve bank of its district in accordance with the provisions of this chapter and shall thereupon be an insured bank under the Federal Deposit Insurance Act [[12 U.S.C. 1811](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1811&num=0&edition=prelim) et seq.], and failure to do so shall subject such bank to the penalty provided by [section 501a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section501a&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 222
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Federal law — U.S. Code and appendices · legal_authorities
Page 104 TITLE 12—BANKS AND BANKING § 266 performance of their duties as financial agents of the Government: Provided, That no such secu- rity shall be required for the safekeeping and prompt payment of such parts of the deposits of the public money in such banks as are insured deposits and each officer, employee, or agent of the United States having official custody of pub- lic funds and lawfully depositing the same in an insured bank shall, for the purpose of deter- mining the amount of the insured deposits, be deemed a depositor in such custodial capacity separate and distinct from any other officer, em- ployee, or agent of the United States having of- ficial custody of public funds and lawfully depos- iting the same in the same insured bank in cus- todial capacity. Notwithstanding any other pro- vision of law, no department, board, agency, in- strumentality, officer, employee, or agent of the United States shall issue or permit to continue in effect any regulations, rulings, or instruc- tions or enter into or approve any contracts or perform any other acts having to do with the de- posit, disbursement, or expenditure of public funds, or the deposit, custody, or advance of funds subject to the control of the United States as trustee or otherwise which shall discriminate against or prefer national banking associations, State banks members of the Federal Reserve System, or insured banks not members of the Federal Reserve System, by class, or which shall require those enjoying the benefits, directly or indirectly, of disbursed public funds so to dis- criminate. All Acts or parts thereof in conflict herewith are repealed. The terms ‘‘insured bank’’ and ‘‘insured deposit’’ as used in this sec- tion shall be construed according to the defini- tions of
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 281
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