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12 U.S.C. § 122a — Redeemed notes of unidentifiable issue; funds charged against

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 122a — Redeemed notes of unidentifiable issue; funds charged against

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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Source location: Title 12, Chapter 2, § 122a; chapter-002-national-banks.md

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 122 — Repealed. Pub. L. 97–258, § 5(b), Sept. 13, 1982, 96 Stat. 1068

### Statutory Notes Section, act July 14, 1890, ch. 708, § 6, 26 Stat. 289, related to deposits received by the Treasurer from national banks made to redeem circulating notes of such banks and disposition of those deposits.

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 55 — Enforcing payment of deficiency in capital stock; assessments; liquidation; receivership

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

12 U.S.C. § 121a — Redemption of notes unidentifiable as to bank of issue

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

12 U.S.C. § 122a — Redeemed notes of unidentifiable issue;

Page 57 TITLE 12—BANKS AND BANKING § 141 1 See References in Text note below. Executive Documents TRANSFER OF FUNCTIONS For transfer of functions to Secretary of the Treas- ury, see note set out under section 55 of this title. § 122. Repealed. Pub. L. 97–258, § 5(b), Sept. 13, 1982, 96 Stat. 1068 Section, act July 14, 1890, ch. 708, § 6, 26 Stat. 289, re- lated to deposits received by the Treasurer from na- tional banks made to redeem circulating notes of such banks and disposition of those deposits. § 122a. Redeemed notes of unidentifiable issue; funds charged against Federal Reserve bank notes redeemed by the Treasurer of the United States under section 121a of this title shall be charged against the balance of deposits for the retirement of Federal Reserve bank notes under the provisions of sec- tions 122 and 445 1 of this title; and charges for Federal Reserve notes redeemed by the Treas- urer of the United States under section 121a of this title shall be apportioned among the twelve Federal Reserve banks as determined by the Board of Governors of the Federal Reserve Sys- tem. (June 13, 1933, ch. 62, § 2, 48 Stat. 128; Pub. L. 89–427, § 4(b), May 20, 1966, 80 Stat. 161; Pub. L. 103–325, title VI, § 602(g)(8)(B), Sept. 23, 1994, 108 Stat. 2294.) Editorial Notes REFERENCES IN TEXT Section 122 of this title, referred to in text, was re- pealed by Pub. L. 97–258, § 5(b), Sept. 13, 1982, 96 Stat. 1068. Section 445 of this title, referred to in text, was re- pealed by act June 12, 1945, ch. 186, § 3, 59 Stat. 238. AMENDMENTS 1994—Pub. L. 103–325 struck out ‘‘National-bank notes and’’ before ‘‘Federal Reserve bank notes redeemed’’ and ‘‘national-bank notes and’’ after ‘‘deposits for the retirement of’’. 1966—Pub. L. 89–427 substituted provisi

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