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12 U.S.C. § 82 — Repealed. Pub. L. 97–320, title IV, § 402, Oct. 15, 1982, 96 Stat. 1510
Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, R.S. § 5202; Dec. 23, 1913, ch. 6, § 13 (par.), 38 Stat. 264; Sept. 7, 1916, ch. 461, 39 Stat. 753; Apr. 5, 1918, ch. 45, § 20, 40 Stat. 512; Oct. 22, 1919, ch. 79, § 2, 41 Stat. 297; Mar. 4, 1923, ch. 252, title V, § 504, 42 Stat. 1481; Feb. 25, 1927, ch. 191, § 11, 44 Stat. 1231; Jan. 22, 1932, ch. 8, § 5, formerly § 6, 47 Stat. 8, renumbered and amended June 30, 1947, ch. 166, title I, § 1, 61 Stat. 202; May 20, 1933, ch. 35, § 2, 48 Stat. 73; June 19, 1934, ch. 653, § 2, 48 Stat. 1107; Sept. 8, 1959, Pub. L. 86–230, § 10, 73 Stat. 458; Sept. 9, 1959, Pub. L. 86–251, § 2, 73 Stat. 488; July 24, 1970, Pub. L. 91–351, title II, § 201(b), 84 Stat. 451; Jan. 4, 1975, Pub. L. 93–646, § 11, 88 Stat. 2337, provided that no national banking association could at any time be indebted, or in any way liable, to an amount exceeding the amount of its capital stock at such time actually paid in and remaining undiminished by losses or otherwise, plus 50 percent of the amount of its unimpaired surplus fund, except on account of demands of the nature following: notes of circulation; moneys deposited with or collected by the association; bills of exchange or drafts drawn against money actually on deposit to the credit of the association, or due thereto; liabilities to the stockholders of the association for dividends and reserve profits; liabilities incurred under the provisions of the Federal Reserve Act; liabilities incurred under the provisions of 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.]; liabilities created by the indorsement of accepted bills of exchange payable abroad actually owned by the indorsing bank and discounted at home or
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Source location: Title 12, Chapter 2, § 82; chapter-002-national-banks.md
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### Statutory Notes
Section, R.S. § 5202; Dec. 23, 1913, ch. 6, § 13 (par.), 38 Stat. 264; Sept. 7, 1916, ch. 461, 39 Stat. 753; Apr. 5, 1918, ch. 45, § 20, 40 Stat. 512; Oct. 22, 1919, ch. 79, § 2, 41 Stat. 297; Mar. 4, 1923, ch. 252, title V, § 504, 42 Stat. 1481; Feb. 25, 1927, ch. 191, § 11, 44 Stat. 1231; Jan. 22, 1932, ch. 8, § 5, formerly § 6, 47 Stat. 8, renumbered and amended June 30, 1947, ch. 166, title I, § 1, 61 Stat. 202; May 20, 1933, ch. 35, § 2, 48 Stat. 73; June 19, 1934, ch. 653, § 2, 48 Stat. 1107; Sept. 8, 1959, Pub. L. 86–230, § 10, 73 Stat. 458; Sept. 9, 1959, Pub. L. 86–251, § 2, 73 Stat. 488; July 24, 1970, Pub. L. 91–351, title II, § 201(b), 84 Stat. 451; Jan. 4, 1975, Pub. L. 93–646, § 11, 88 Stat. 2337, provided that no national banking association could at any time be indebted, or in any way liable, to an amount exceeding the amount of its capital stock at such time actually paid in and remaining undiminished by losses or otherwise, plus 50 percent of the amount of its unimpaired surplus fund, except on account of demands of the nature following: notes of circulation; moneys deposited with or collected by the association; bills of exchange or drafts drawn against money actually on deposit to the credit of the association, or due thereto; liabilities to the stockholders of the association for dividends and reserve profits; liabilities incurred under the provisions of the Federal Reserve Act; liabilities incurred under the provisions of 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.]; liabilities created by the indorsement of accepted bills of exchange payable abroad actually owned by the indorsing bank and discounted at home or abroad; liabilities incurred under the provisions of sections 1031 to 1033 of this title; liabilities incurred on account of loans made with the express approval of the Comptroller of the Currency under former [section 84(9) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section84/9&num=0&edition=prelim); liabilities incurred under the provisions of [section 352a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section352a&num=0&edition=prelim); liabilities incurred in connection with sales of mortgages, or participations therein, to the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation; and liabilities incurred in borrowing from the Export-Import Bank of the United States.
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, act Dec. 23, 1913, ch. 6, § 13b, as added June 19, 1934, ch. 653, § 1, 48 Stat. 1105; amended Aug. 23, 1935, ch. 614, title III, § 323, 49 Stat. 714, authorized Federal Reserve Banks to make loans to industrial and commercial businesses and to discount or purchase industrial obligations from financial institutions, and created an industrial advisory committee.
#### Effective Date of Repeal
Pub. L. 85–699, title VI, § 601, Aug. 21, 1958, 72 Stat. 697, provided that the repeal of this section is effective one year after Aug. 21, 1958.
#### Savings Provision
Pub. L. 85–699, title VI, § 601, Aug. 21, 1958, 72 Stat. 697, provided that the repeal of this section shall not affect the power of any Federal Reserve bank to carry out, or protect its interest under, any agreement theretofore made or transaction entered into in carrying on operations under this section.
#### Fund for Management Counseling
Pub. L. 85–699, title VI, § 602(a), (b), Aug. 21, 1958, 72 Stat. 698, required Federal Reserve banks to repay to the United States certain amounts paid to them under [12 U.S.C. 352a](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section352a&num=0&edition=prelim), such amounts to be covered into a special fund for grants under [section 636 of Title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636&num=0&edition=prelim), Commerce and Trade. See text of note set out under that section.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment of Corporation** There is hereby established a Federal Deposit Insurance Corporation (hereinafter referred to as the “Corporation”) which shall insure, as hereinafter provided, the deposits of all banks and savings associations which are entitled to the benefits of insurance under this chapter, and which shall have the powers hereinafter granted.
**(b) Asset disposition division**
(1) **Establishment** — The Corporation shall have a separate division of asset disposition.
(2) **Management** — The division of asset disposition shall have an administrator who shall be appointed by the Board of Directors.
(3) **Responsibilities of division** — The division of asset disposition shall carry out all of the responsibilities of the Corporation under this chapter relating to the liquidation of insured depository institutions and the disposition of assets of such institutions.
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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
Any Federal reserve bank may receive from any of its member banks, or other depository institutions, and from the United States, deposits of current funds in lawful money, national-bank notes, Federal reserve notes, or checks, and drafts, payable upon presentation or other items, and also, for collection, maturing notes and bills; or, solely for purposes of exchange or of collection may receive from other Federal reserve banks deposits of current funds in lawful money, national-bank notes, or checks upon other Federal reserve banks, and checks and drafts, payable upon presentation within its district or other items, and maturing notes and bills payable within its district; or, solely for the purposes of exchange or of collection, may receive from any nonmember bank or trust company or other depository institution deposits of current funds in lawful money, national-bank notes, Federal reserve notes, checks and drafts payable upon presentation or other items, or maturing notes and bills: Provided, Such nonmember bank or trust company or other depository institution maintains with the Federal Reserve bank of its district a balance in such amount as the Board determines taking into account items in transit, services provided by the Federal Reserve bank, and other factors as the Board may deem appropriate: Provided further, That nothing in this or any other section of this chapter shall be construed as prohibiting a member or nonmember bank or other depository institution from making reasonable charges, to be determined and regulated by the Board of Governors of the Federal Reserve System, but in no case to exceed 10 cents per $100 or fraction thereof, based on the total of checks and drafts presented at any one time, for collection or payment of checks and drafts and remiss
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Federal law — U.S. Code and appendices · legal_authorities
In addition to the powers now vested by law in national banking associations organized under the laws of the United States any such association located and doing business in any place the population of which does not exceed five thousand inhabitants, as shown by the last preceding decennial census, may, under such rules and regulations as may be prescribed by the Comptroller of the Currency, act as the agent for any fire, life, or other insurance company authorized by the authorities of the State in which said bank is located to do business in said State, by soliciting and selling insurance and collecting premiums on policies issued by such company; and may receive for services so rendered such fees or commissions as may be agreed upon between the said association and the insurance company for which it may act as agent: Provided, however, That no such bank shall in any case assume or guarantee the payment of any premium on insurance policies issued through its agency by its principal: And provided further, That the bank shall not guarantee the truth of any statement made by an assured in filing his application for insurance.
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Federal law — U.S. Code and appendices · legal_authorities
Page 957
TITLE 12—BANKS AND BANKING
§ 1811
Sec.
1831v.
Authority of State insurance regulator and
Securities and Exchange Commission.
1831w.
Safety and soundness firewalls applicable to
financial subsidiaries of banks.
1831x.
Insurance customer protections.
1831y.
CRA sunshine requirements.
1831z.
Bi-annual FDIC survey and report on encour-
aging use of depository institutions by the
unbanked.
1831aa.
Enforcement of agreements.
1831bb.
Capital requirements for certain acquisition,
development, or construction loans.
1831cc.
Data standards.
1831dd.
Open data publication.
1832.
Withdrawals by negotiable or transferable in-
struments for transfers to third parties.
1833.
Repealed.
1833a.
Civil penalties.
1833b.
Comparability in compensation schedules.
1833c.
Comptroller General audit and access to
records.
1833d.
Repealed.
1833e.
Equal opportunity.
1834.
Reduced assessment rate for deposits attrib-
utable to lifeline accounts.
1834a.
Assessment credits for qualifying activities
relating to distressed communities.
1834b.
Community development organizations.
1835.
Insured depository institution capital re-
quirements for transfers of small business
obligations.
1835a.
Prohibition against deposit production of-
fices.
§ 1811. Federal Deposit Insurance Corporation
(a) Establishment of Corporation
There is hereby established a Federal Deposit
Insurance Corporation (hereinafter referred to
as the ‘‘Corporation’’) which shall insure, as
hereinafter provided, the deposits of all banks
and savings associations which are entitled to
the benefits of insurance under this chapter, and
which shall have the powers hereinafter granted.
(b) Asset disposition division
(1) Establishment
The Corporation shall have a separate divi-
s
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1811
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Federal law — U.S. Code and appendices · legal_authorities
Page 42
TITLE 12—BANKS AND BANKING
§ 81
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF REPEAL
Repeal effective 120 days after Nov. 12, 1999, see sec-
tion 161 of Pub. L. 106–102, set out as an Effective Date
of 1999 Amendment note under section 24 of this title.
SUBCHAPTER
IV—REGULATION
OF
THE
BANKING BUSINESS; POWERS AND DU-
TIES OF NATIONAL BANKS
§ 81. Place of business
The general business of each national banking
association shall be transacted in the place spec-
ified in its organization certificate and in the
branch or branches, if any, established or main-
tained by it in accordance with the provisions of
section 36 of this title.
(R.S. § 5190; Feb. 25, 1927, ch. 191, § 8, 44 Stat.
1229.)
Editorial Notes
CODIFICATION
R.S. § 5190 derived from act June 3, 1864, ch. 106, § 8, 13
Stat. 101, which was the National Bank Act. See sec-
tion 38 of this title.
AMENDMENTS
1927—Act Feb. 25, 1927, among other changes, inserted
‘‘and in the branch or branches, if any, established or
maintained by it in accordance with the provisions of
section 36 of this title’’.
§ 82. Repealed. Pub. L. 97–320, title IV, § 402, Oct.
15, 1982, 96 Stat. 1510
Section, R.S. § 5202; Dec. 23, 1913, ch. 6, § 13 (par.), 38
Stat. 264; Sept. 7, 1916, ch. 461, 39 Stat. 753; Apr. 5, 1918,
ch. 45, § 20, 40 Stat. 512; Oct. 22, 1919, ch. 79, § 2, 41 Stat.
297; Mar. 4, 1923, ch. 252, title V, § 504, 42 Stat. 1481; Feb.
25, 1927, ch. 191, § 11, 44 Stat. 1231; Jan. 22, 1932, ch. 8, § 5,
formerly § 6, 47 Stat. 8, renumbered and amended June
30, 1947, ch. 166, title I, § 1, 61 Stat. 202; May 20, 1933, ch.
35, § 2, 48 Stat. 73; June 19, 1934, ch. 653, § 2, 48 Stat. 1107;
Sept. 8, 1959, Pub. L. 86–230, § 10, 73 Stat. 458; Sept. 9,
1959, Pub. L. 86–251, § 2, 73 Stat. 488;
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 82
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