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12 U.S.C. § 392 — Depositaries of Government funds as confined to banks in Federal reserve system; member banks as depositaries
Federal law — U.S. Code and appendices · legal_authorities
No public funds of the postal savings, or any Government funds, shall be deposited in the continental United States in any bank not belonging to the system established by this chapter: Provided, however, That nothing in this chapter shall be construed to deny the right of the Secretary of the Treasury to use member banks as depositaries.
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Stable record: federal_law:legal_authorities:record_usc_a2be2ef3e9764791f2a3496e
Source file: Laws/federal/codes/united-states-code/title-12/section-392-depositaries-of-government-funds-as-confined-to-banks-in-federal-reserve--3647e8467e.md
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Passage SHA-256: 45893fb90531657a9ba4611d6577d197583765de44acc71b4cab440d84b042cb
Source location: Title 12, Chapter 3, § 392; chapter-003-federal-reserve-system.md
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No public funds of the postal savings, or any Government funds, shall be deposited in the continental United States in any bank not belonging to the system established by this chapter: Provided, however, That nothing in this chapter shall be construed to deny the right of the Secretary of the Treasury to use member banks as depositaries.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Withdrawal of American sovereignty** On the 4th day of July immediately following the expiration of a period of ten years from the date of the inauguration of the new government under the constitution provided for in this Act, the President of the United States shall by proclamation withdraw and surrender all right of possession, supervision, jurisdiction, control, or sovereignty then existing and exercised by the United States in and over the territory and people of the Philippine Islands, including all military and other reservations of the Government of the United States in the Philippines (except such naval reservations and fueling stations as are reserved under [section 1391 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section1391&num=0&edition=prelim)), and, on behalf of the United States, shall recognize the independence of the Philippine Islands as a separate and self-governing nation and acknowledge the authority and control over the same of the government instituted by the people thereof, under the constitution then in force.
**(b) Naval reservations and fueling stations** The President of the United States is authorized and empowered to enter into negotiations with the government of the Philippine Islands, not later than two years after his proclamation recognizing the independence of the Philippine Islands, for the adjustment and settlement of all questions relating to naval reservations and fueling stations of the United States in the Philippine Islands, and pending such adjustment and settlement the matter of naval reservations and fueling stations shall remain in its present status.
**(c) Property for diplomatic purposes**
(1) Whenever the President of the United States shall find that any properties in the
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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 156
TITLE 12—BANKS AND BANKING
§ 391
derwriting, purchasing, and selling investment
securities, or issuing securities, to the extent
permitted to national banking associations by
the provisions of section 24 of this title: Pro-
vided further, That nothing in this paragraph
shall be construed as affecting in any way
such right as any bank, banking association,
savings bank, trust company, or other banking
institution, may otherwise possess to sell,
without recourse or agreement to repurchase,
obligations evidencing loans on real estate; or
(2) For any person, firm, corporation, asso-
ciation, business trust, or other similar orga-
nization to engage, to any extent whatever
with others than his or its officers, agents or
employees, in the business of receiving depos-
its subject to check or to repayment upon
presentation of a pass book, certificate of de-
posit, or other evidence of debt, or upon re-
quest of the depositor, unless such person,
firm, corporation, association, business trust,
or other similar organization (A) shall be in-
corporated under, and authorized to engage in
such business by, the laws of the United States
or of any State, Territory, or District, and
subjected, by the laws of the United States, or
of the State, Territory, or District wherein lo-
cated, to examination and regulation, or (B)
shall be permitted by the United States, any
State, territory, or district to engage in such
business and shall be subjected by the laws of
the United States, or such State, territory, or
district to examination and regulations or, (C)
shall submit to periodic examination by the
banking authority of the State, Territory, or
District where such business is carried on and
shall make and publish periodic reports of its
condition, exh
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 392
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