Browse Arkansas Code titles and sections
12 U.S.C. § 632 — Jurisdiction of United States courts; disposition by banks of foreign owned property
Federal law — U.S. Code and appendices · legal_authorities
Notwithstanding any other provision of law, all suits of a civil nature at common law or in equity to which any corporation organized under the laws of the United States shall be a party, arising out of transactions involving international or foreign banking, or banking in a dependency or insular possession of the United States, or out of other international or foreign financial operations, either directly or through the agency, ownership, or control of branches or local institutions in dependencies or insular possessions of the United States or in foreign countries, shall be deemed to arise under the laws of the United States, and the district courts of the United States shall have original jurisdiction of all such suits; and any defendant in any such suit may, at any time before the trial thereof, remove such suits from a State court into the district court of the United States for the proper district by following the procedure for the removal of causes otherwise provided by law. Such removal shall not cause undue delay in the trial of such case and a case so removed shall have a place on the calendar of the United States court to which it is removed relative to that which it held on the State court from which it was removed.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 632
Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.
Original supplied file — preserved unchanged
Download original Markdown file
File SHA-256: c37c46983a7cc7f047cb8382f2a9030c9ec4053ddabb248be12d4c9c3e26ae49. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.
Authority boundary: historical or unconfirmed source not current law verified.
Open the recorded source website ↗
Record provenance
Stable record: federal_law:legal_authorities:record_usc_c6dd1b707e1ee6b1c21d6043
Source file: Laws/federal/codes/united-states-code/title-12/section-632-jurisdiction-of-united-states-courts-disposition-by-banks-of-foreign-own--5965ec6230.md
Pages: Not recorded – Not recorded
Passage SHA-256: 5ff2ad6b4e96ebd06ac153e4b32a5376795d7e2ee9d85916dc04783abfa4fb97
Source location: Title 12, Chapter 6, § 632; chapter-006-foreign-banking.md
Stored source content
Notwithstanding any other provision of law, all suits of a civil nature at common law or in equity to which any corporation organized under the laws of the United States shall be a party, arising out of transactions involving international or foreign banking, or banking in a dependency or insular possession of the United States, or out of other international or foreign financial operations, either directly or through the agency, ownership, or control of branches or local institutions in dependencies or insular possessions of the United States or in foreign countries, shall be deemed to arise under the laws of the United States, and the district courts of the United States shall have original jurisdiction of all such suits; and any defendant in any such suit may, at any time before the trial thereof, remove such suits from a State court into the district court of the United States for the proper district by following the procedure for the removal of causes otherwise provided by law. Such removal shall not cause undue delay in the trial of such case and a case so removed shall have a place on the calendar of the United States court to which it is removed relative to that which it held on the State court from which it was removed.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
#### Codification
Section, act Dec. 23, 1913, ch. 6, § 12B, as added June 16, 1933, ch. 89, § 8, 48 Stat. 168; amended June 16, 1934, ch. 546, § 1 (1)–(10), 48 Stat. 969, 970; June 28, 1935, ch. 335, 49 Stat. 435; Aug. 23, 1935, ch. 614, title I, § 101, 49 Stat. 684; Apr. 21, 1936, ch. 244, 49 Stat. 1237; May 25, 1938, ch. 276, 52 Stat. 442; June 16, 1938, ch. 489, 52 Stat. 767; June 20, 1939, ch. 214, § 2, 53 Stat. 842; Apr. 13, 1943, ch. 62, § 1, 57 Stat. 65; Aug. 5, 1947, ch. 492, §§ 2, 4, 61 Stat. 773; June 25, 1948, ch. 645, § 21, 62 Stat. 862; Oct. 15, 1949, ch. 695, § 4, 63 Stat. 880; Aug. 17, 1950, ch. 729, §§ 5–7, 64 Stat. 457, relating to the Federal Deposit Insurance Corporation, was withdrawn from the Federal Reserve Act and made a separate act to be known as the Federal Deposit Insurance Act, by section 1 of act Sept. 21, 1950, ch. 967, 64 Stat. 873. The Federal Deposit Insurance Act is classified to chapter 16 (§ 1811 et seq.) of this title.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 264
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
In this title, “agency” means a department, agency, or instrumentality of the United States Government.
Source: Supplied U.S. Code snapshot — release unconfirmed · 31 U.S.C. § 101
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions** In this section:
(1) **Access request** — The term “access request” means a request to a Federal reserve bank for access to a reserve bank master account and services, including any written documentation or formal indication that an entity intends to seek access to a reserve bank master account and services.
(2) **Official accountholder** — The term “official accountholder” means—
(A) a foreign state, as defined in [section 632 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section632&num=0&edition=prelim);
(B) a central bank, as defined in [section 632 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section632&num=0&edition=prelim), other than a commercial bank;
(C) a public international organization entitled to enjoy privileges, exemptions, and immunities as an international organization under the International Organizations Immunities Act ([22 U.S.C. 288](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section288&num=0&edition=prelim) et seq.); and
(D) any governmental entity for which the Secretary of the Treasury has directed a Federal reserve bank to receive deposits as fiscal agent of the United States under [section 391 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section391&num=0&edition=prelim).
(3) **Reserve bank master account and services** — The term “reserve bank master account and services” means an account in which a Federal reserve bank—
(A) receives deposits for an entity other than an official accountholder; or
(B) provides any service under [section 248a(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section248a/b&num=0&edition=prelim) to
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 248c
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
Every Federal reserve bank shall have power to establish accounts with other Federal reserve banks for exchange purposes and, with the consent or upon the order and direction of the Board of Governors of the Federal Reserve System and under regulations to be prescribed by said Board, to open and maintain accounts in foreign countries, appoint correspondents, and establish agencies in such countries wheresoever it may be deemed best for the purpose of purchasing, selling, and collecting bills of exchange, and to buy and sell, with or without its indorsement, through such correspondents or agencies, bills of exchange (or acceptances) arising out of actual commercial transactions which have not more than ninety days to run, exclusive of days of grace, and which bear the signature of two or more responsible parties, and, with the consent of the Board of Governors of the Federal Reserve System, to open and maintain banking accounts for such foreign correspondents or agencies, or for foreign banks or bankers, or for foreign states as defined in [section 632 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section632&num=0&edition=prelim). Whenever any such account has been opened or agency or correspondent has been appointed by a Federal reserve bank, with the consent of or under the order and direction of the Board of Governors of the Federal Reserve System, any other Federal reserve bank may, with the consent and approval of the Board of Governors of the Federal Reserve System, be permitted to carry on or conduct, through the Federal reserve bank opening such account or appointing such agency or correspondent, any transaction authorized by this section under rules and regulations to be prescribed by the board.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 358
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
Regulations issued by the Board of Governors of the Federal Reserve System under this subchapter, in addition to regulating powers which a foreign branch may exercise under other provisions of law, may authorize such a foreign branch, subject to such conditions and requirements as such regulations may prescribe, to exercise such further powers as may be usual in connection with the transaction of the business of banking in the places where such foreign branch shall transact business. Such regulations shall not authorize a foreign branch to engage in the general business of producing, distributing, buying or selling goods, wares, or merchandise; nor, except to such limited extent as the Board may deem to be necessary with respect to securities issued by any “foreign state” as defined in [section 632 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section632&num=0&edition=prelim), shall such regulations authorize a foreign branch to engage or participate, directly or indirectly, in the business of underwriting, selling, or distributing securities.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 604a
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
Page 196
TITLE 12—BANKS AND BANKING
§ 631
1 So in original. Probably should be ‘‘of’’.
Reserve System, or any agent or examiner ap-
pointed to examine the affairs of such receiver,
shall make any false entry in any book, report,
or record of any matter connected with the du-
ties of such receiver; and every person who with
like intent aids or abets any officer, director,
clerk, employee, or agent of any corporation or-
ganized under this subchapter, or receiver or
clerk or employee of such receiver as aforesaid
in any violation of this subchapter, shall upon
conviction thereof be imprisoned for not less
than two years nor more than ten years, and
may also be fined not more than $5,000, in the
discretion of the court.
(Dec. 23, 1913, ch. 6, § 25A (par.), formerly § 25(a),
as added Dec. 24, 1919, ch. 18, 41 Stat. 378; amend-
ed Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat.
704; renumbered § 25A, Pub. L. 102–242, title I,
§ 142(e)(2), Dec. 19, 1991, 105 Stat. 2281.)
Editorial Notes
REFERENCES IN TEXT
This subchapter, referred to in text, was in the origi-
nal ‘‘this section’’, meaning section 25A of act Dec. 23,
1913, which is classified to this subchapter (§ 611 et seq.).
CODIFICATION
Section is comprised of par. 22 (undesignated) of sec-
tion 25A of act Dec. 23, 1913, which comprises this sub-
chapter. For complete classification of section 25A of
this Act, see Codification note set out under section 611
of this title.
Statutory Notes and Related Subsidiaries
CHANGE OF NAME
Section 203(a) of act Aug. 23, 1935, changed name of
Federal Reserve Board to Board of Governors of the
Federal Reserve System.
§ 631. False representations as to liability of
United States for acts of corporation; punish-
ment
Whoever being connected in any capacit
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 632
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.