12 U.S.C. § 335 — Dealing in investment securities; limita-

Page 118 TITLE 12—BANKS AND BANKING § 335 (Dec. 23, 1913, ch. 6, § 9 (pars.), as added June 16, 1933, ch. 89, § 5(c), 48 Stat. 165; amended Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704; Pub. L. 89–485, § 13(f), July 1, 1966, 80 Stat. 243.) Editorial Notes REFERENCES IN TEXT This subchapter, referred to in text, was in the origi- nal ‘‘this section’’, meaning section 9 of act Dec. 23, 1913, which is classified generally to this subchapter (§ 321 et seq.). CODIFICATION Section is comprised of the seventeenth to nineteenth pars. of act Dec. 23, 1913, as amended. These pars. con- stituted pars. fifteen to seventeen of section 9 in 1933 (48 Stat. 165), became pars. sixteen to eighteen in 1935 (49 Stat. 704), and became pars. seventeen to nineteen in 1950 (64 Stat. 458). For further details, see Codifica- tion notes set out under sections 321 and 329a of this title. AMENDMENTS 1966—Pub. L. 89–485 struck out last sentence of third par. stating that term ‘‘affiliate’’ shall include holding company affiliates as well as other affiliates for the purposes of such par. and preceding two pars. 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. § 335. Dealing in investment securities; limita- tions and conditions State member banks shall be subject to the same limitations and conditions with respect to the purchasing, selling, underwriting, and hold- ing of investment securities and stock as are ap- plicable in the case of national banks under paragraph ‘‘Seventh’’ of section 24 of this title. This section shall not apply to any interest held by a State member bank in accordance with sec- tion 24a of this title and subject to the same conditions and limitations provided in such sec- tion. (Dec. 23, 1913, ch. 6, § 9 (par.), as added June 16, 1933, ch. 89, § 5(c), 48 Stat. 165; amended Pub. L. 106–102, title I, § 121(d)(2), Nov. 12, 1999, 113 Stat. 1381.) Editorial Notes CODIFICATION Section is comprised of the twentieth par. of section 9 of act Dec. 23, 1913, as amended. The twentieth par. constituted the eighteenth par. of section 9 in 1933 (48 Stat. 16), became the nineteenth par. in 1935 (49 Stat. 704), and became the twentieth par. in 1950 (64 Stat. 458). For further details, see Codification notes set out under sections 321 and 329a of this title. AMENDMENTS 1999—Pub. L. 106–102 inserted at end ‘‘This section shall not apply to any interest held by a State member bank in accordance with section 24a of this title and subject to the same conditions and limitations pro- vided in such section.’’ Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1999 AMENDMENT Amendment by Pub. L. 106–102 effective 120 days after Nov. 12, 1999, see section 161 of Pub. L. 106–102, set out as a note under section 24 of this title. § 336. Certificates of stock; representation of stock of other corporations After August 23, 1935, no certificate evidencing the stock of any State member bank shall bear any statement purporting to represent the stock of any other corporation, except a member bank or a corporation engaged on June 16, 1934, in holding the bank premises of such member bank, nor shall the ownership, sale, or transfer of any certificate representing the stock of any State member bank be conditioned in any man- ner whatsoever upon the ownership, sale, or transfer of a certificate representing the stock of any other corporation, except a member bank or a corporation engaged on June 16, 1934 in holding the bank premises of such member bank: Provided, That this subchapter shall not operate to prevent the ownership, sale, or trans- fer of stock of any other corporation being con- ditioned upon the ownership, sale, or transfer of a certificate representing stock of a State mem- ber bank. (Dec. 23, 1913, ch. 6, § 9 (par.), as added June 16, 1933, ch. 89, § 5(c), 48 Stat. 165; amended Aug. 23, 1935, ch. 614, title III, § 310(b), 49 Stat. 710.) Editorial Notes REFERENCES IN TEXT This subchapter, referred to in text, was in the origi- nal ‘‘this section’’, meaning section 9 of act Dec. 23, 1913, which is classified generally to this subchapter (§ 321 et seq.). CODIFICATION Section is comprised of the twenty-first par. of sec- tion 9 of act Dec. 23, 1913, as amended. The twenty-first par. constituted the nineteenth par. of section 9 in 1933 (48 Stat. 165), became the twentieth par. in 1935 (49 Stat. 704), and became the twenty-first par. in 1950 (64 Stat. 458). For further details, see Codification notes set out under sections 321 and 329a of this title. AMENDMENTS 1935—Act Aug. 23, 1935, among other changes, inserted proviso. § 337. Repealed. Pub. L. 89–485, § 13(g), July 1, 1966, 80 Stat. 243 Section, act Dec. 23, 1913, ch. 6, § 9 (par.), as added June 16, 1933, ch. 89, § 5(c), 48 Stat. 166, required agree- ments of State member banks with holding company affiliates to be subject to voting restrictions and to provide for forfeiture of membership on failure to file agreement. This section was comprised of the twenty-second par. of section 9 of act Dec. 23, 1913, as amended. The twen- ty-second par. constituted the twentieth par. of section 9 when added in 1933, became the twenty-first par. in 1935 (49 Stat. 704), and became the twenty-second par. in 1950 (64 Stat. 458). For further details, see Codifica- tion notes set out under sections 321 and 329a of this title.