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12 U.S.C. § 92 — Acting as insurance agent or broker
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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Stable record: federal_law:legal_authorities:record_usc_d61d23a56d8a3858611b7de4
Source file: Laws/federal/codes/united-states-code/title-12/section-92-acting-as-insurance-agent-or-broker--ac050a4e9a.md
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Source location: Title 12, Chapter 2, § 92; chapter-002-national-banks.md
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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
### 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
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 82
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Authorization to make real estate loans; orders, rules, and regulations of Comptroller of the Currency** Any national banking association may make, arrange, purchase or sell loans or extensions of credit secured by liens on interests in real estate, subject to section 1828(o) of this title and such restrictions and requirements as the Comptroller of the Currency may prescribe by regulation or order.
**(b) Eligibility for discount as commercial paper of notes representing loans financing construction of residential or farm buildings; prerequisites** Notes representing loans made under this section to finance the construction of residential or farm buildings and having maturities not to exceed nine months shall be eligible for discount as commercial paper within the terms of the first paragraph of [section 343 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section343&num=0&edition=prelim) if accompanied by a valid and binding agreement to advance the full amount of the loan upon the completion of the building entered into by an individual, partnership, association, or corporation acceptable to the discounting bank.
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Federal law — U.S. Code and appendices · legal_authorities
The insurance activities of any person (including a national bank exercising its power to act as agent under [section 92 of title 12](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section92&num=0&edition=prelim)) shall be functionally regulated by the States, subject to [section 6701 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section6701&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 6712
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Federal law — U.S. Code and appendices · legal_authorities
Page 49
TITLE 12—BANKS AND BANKING
§ 92
deposit of United States bonds and otherwise as
may be prescribed by the Secretary of the Treas-
ury for public funds under the first paragraph of
this section.
Notwithstanding chapters 1 to 11 of title 40
and division C (except sections 3302, 3307(e),
3501(b), 3509, 3906, 4710, and 4711) of subtitle I of
title 41, the Secretary may select associations
as financial agents in accordance with any proc-
ess the Secretary deems appropriate and their
reasonable duties may include the provision of
electronic benefit transfer services (including
State-administered benefits with the consent of
the States), as defined by the Secretary.
(R.S. § 5153; Mar. 3, 1901, ch. 871, 31 Stat. 1448;
Mar. 4, 1907, ch. 2913, § 3, 34 Stat. 1290; Dec. 23,
1913, ch. 6, § 27, 38 Stat. 274; Aug. 4, 1914, ch. 225,
38 Stat. 682; June 25, 1930, ch. 604, 46 Stat. 809;
Aug. 18, 1950, ch. 754, 64 Stat. 463; Pub. L. 96–153,
title III, § 323(f), Dec. 21, 1979, 93 Stat. 1120; Pub.
L. 104–208, div. A, title I, § 101(f) [§ 2(1)], Sept. 30,
1996, 110 Stat. 3009–314, 3009–386.)
Editorial Notes
CODIFICATION
In text, ‘‘chapters 1 to 11 of title 40 and division C (ex-
cept sections 3302, 3307(e), 3501(b), 3509, 3906, 4710, and
4711) of subtitle I of title 41’’ substituted for ‘‘the Fed-
eral Property and Administrative Services Act of 1949,
as amended’’ on authority of Pub. L. 107–217, § 5(c), Aug.
21, 2002, 116 Stat. 1303, which Act enacted Title 40, Pub-
lic Buildings, Property, and Works, and Pub. L. 111–350,
§ 6(c), Jan. 4, 2011, 124 Stat. 3854, which Act enacted
Title 41, Public Contracts.
R.S. § 5153 derived from act June 3, 1864, ch. 106, § 45,
13 Stat. 113, which was the National Bank Act. See sec-
tion 38 of this title.
AMENDMENTS
1996—
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 92
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