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12 U.S.C. § 121a — Redemption of notes unidentifiable as to bank of issue
Federal law — U.S. Code and appendices · legal_authorities
Whenever any Federal Reserve bank notes or Federal Reserve notes are presented to the Treasurer of the United States for redemption and such notes cannot be identified as to the bank of issue or the bank through which issued, the Treasurer of the United States may redeem such notes under such rules and regulations as the Secretary of the Treasury may prescribe.
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Source file: Laws/federal/codes/united-states-code/title-12/section-121a-redemption-of-notes-unidentifiable-as-to-bank-of-issue--53ded0d900.md
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Source location: Title 12, Chapter 2, § 121a; chapter-002-national-banks.md
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Whenever any Federal Reserve bank notes or Federal Reserve notes are presented to the Treasurer of the United States for redemption and such notes cannot be identified as to the bank of issue or the bank through which issued, the Treasurer of the United States may redeem such notes under such rules and regulations as the Secretary of the Treasury may prescribe.
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Federal law — U.S. Code and appendices · legal_authorities
Every association which shall have failed to pay up its capital stock, as required by law, and every association whose capital stock shall have become impaired by losses or otherwise, shall, within three months after receiving notice thereof from the Comptroller of the Currency, pay the deficiency in the capital stock, by assessment upon the shareholders pro rata for the amount of capital stock held by each; and the Treasurer of the United States shall withhold the interest upon all bonds held by him in trust for any such association, upon notification from the Comptroller of the Currency, until otherwise notified by him. If any such association shall fail to pay up its capital stock, and shall refuse to go into liquidation, as provided by law, for three months after receiving notice from the comptroller, a receiver may be appointed to close up the business of the association, according to the provisions of [section 192 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section192&num=0&edition=prelim). And provided, That if any shareholder or shareholders of such bank shall neglect or refuse, after three months’ notice, to pay the assessment, as provided in this section, it shall be the duty of the board of directors to cause a sufficient amount of the capital stock of such shareholder or shareholders to be sold at public auction (after thirty days’ notice shall be given by posting such notice of sale in the office of the bank, and by publishing such notice in a newspaper of the city or town in which the bank is located, or in a newspaper published nearest thereto,) 11 So in original. to make good the deficiency, and the balance, if any, shall be returned to such delinquent shareholder or shareholders.
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Federal law — U.S. Code and appendices · legal_authorities
Federal Reserve bank notes redeemed by the Treasurer of the United States under [section 121a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section121a&num=0&edition=prelim) shall be charged against the balance of deposits for the retirement of Federal Reserve bank notes under the provisions of sections 122 and 445 11 See References in Text note below. of this title; and charges for Federal Reserve notes redeemed by the Treasurer of the United States under [section 121a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section121a&num=0&edition=prelim) shall be apportioned among the twelve Federal Reserve banks as determined by the Board of Governors of the Federal Reserve System.
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Federal law — U.S. Code and appendices · legal_authorities
Page 56
TITLE 12—BANKS AND BANKING
§§ 95a, 95b
subject
to
certain
restrictions.
See
31
C.F.R.
121.20–121.22. The fifth and sixth paragraphs of Ex. Ord.
No. 6073, relating to the removal of gold coin, gold bul-
lion, or gold certificates from the United States by cor-
porations, etc., including banking institutions and au-
thorization of banking institutions to pay out gold
coin, gold bullion or gold certificates, were revoked by
Ex. Ord. No. 11825, Dec. 31, 1974, 40 F.R. 1003.
PROC. NO. 2725. EXEMPTION OF MEMBER BANKS OF
FEDERAL RESERVE SYSTEM
Proc. No. 2725, Apr. 7, 1947, 12 F.R. 2343, 61 Stat. 1062,
provided:
NOW, THEREFORE, I, HARRY S. TRUMAN, Presi-
dent of the United States of America, acting under and
by virtue of the authority vested in me by section 5(b)
of the Trading with the Enemy Act of October 6, 1917,
40 Stat. 415, as amended [50 U.S.C. 4305(b)], and section
4 of the act of March 9, 1933, 48 Stat. 2 [12 U.S.C. 95] and
by virtue of all other authority vested in me, do here-
by, in the interest of the internal management of the
Government, proclaim, order, direct, and declare that
the said proclamations of March 6 and March 9, 1933,
and Executive order of March 10, 1933, as amended, are
further amended to exclude from their scope banking
institutions which are members of the Federal Reserve
System: Provided, however, That no banking institution
shall pay out any gold coin, gold bullion, or gold cer-
tificates, except as authorized by the Secretary of the
Treasury, or allow the withdrawal of any currency for
hoarding.
This proclamation shall become effective as of March
15, 1947.
§§ 95a, 95b. Omitted
Editorial Notes
CODIFICATION
Section 95a, act Oct. 6, 1917, ch. 106, § 5(b), 40 Stat. 415;
Sept. 24, 1918, ch. 176, § 5, 40 S
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 121a
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