12 U.S.C. § 11 — Interest in national banks

Page 4 TITLE 12—BANKS AND BANKING § 8 Statutory Notes and Related Subsidiaries SIMILAR PROVISIONS Similar provisions were contained in act Feb. 17, 1922, ch. 55, 42 Stat. 375, and in earlier appropriation acts. Executive Documents EXCEPTION AS TO TRANSFER OF FUNCTIONS Functions vested by any provision of law in Comp- troller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under section 1 of this title. § 8. Clerks The Comptroller of the Currency shall employ, from time to time, the necessary clerks, to be appointed and classified by the Secretary of the Treasury, to discharge such duties as the comp- troller shall direct. (R.S. § 328.) Editorial Notes CODIFICATION R.S. § 328 derived from act June 3, 1864, ch. 106, § 1, 13 Stat. 100, which was the National Bank Act. See sec- tion 38 of this title. Executive Documents EXCEPTION AS TO TRANSFER OF FUNCTIONS Functions vested by any provision of law in Comp- troller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under section 1 of this title. § 9. Additional examiners, clerks, and other em- ployees The Comptroller of the Currency is authorized to employ such additional examiners, clerks, and other employees as he deems necessary to carry out the provisions of sections 4, 6, 9, 10, 1151 to 1318, and 1322 of this title and to assign to duty in the office of his bureau in Washington such examiners and assistant examiners as he shall deem necessary to assist in the perform- ance of the work of that bureau. (Mar. 4, 1923, ch. 252, title II, § 209(b), 42 Stat. 1467.) Editorial Notes REFERENCES IN TEXT Section 6, referred to in text, was repealed by Pub. L. 86–251, § 1(c)(1), Sept. 9, 1959, 73 Stat. 488. Sections 1151, 1161 to 1163, 1171, 1172, 1181, 1182, 1191, 1201, 1202, 1211 to 1215, 1221 to 1223, 1231, 1232, 1241 to 1244, 1246, 1247, 1249, 1251, 1261, 1271, 1281 to 1283, 1291 to 1293, 1301 to 1303, and 1322 of this title, included within the reference to sections 1151 to 1318, and 1322 of this title, were repealed by Pub. L. 86–230, § 24, Sept. 8, 1959, 73 Stat. 466. Section 1151a, included within the reference to sec- tions 1151 to 1318 of this title, was repealed by Pub. L. 92–181, title V, § 5.26(a), Dec. 10, 1971, 85 Stat. 624. Sections 1245, 1248, and 1311 to 1318, included within the reference to sections 1151 to 1318 of this title, were repealed by act June 25, 1948, ch. 645, § 21, 62 Stat. 862, eff. Sept. 1, 1948. The bureau referred to in text is known as the Office of the Comptroller of the Currency. CODIFICATION Section is comprised of subsec. (b), third sentence, of section 209 of act Mar. 4, 1923. For classification to this title of other provisions of section 209, see Tables. Executive Documents EXCEPTION AS TO TRANSFER OF FUNCTIONS Functions vested by any provision of law in Comp- troller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under section 1 of this title. § 9a. Repealed. Pub. L. 89–554, § 8(a), Sept. 6, 1966, 80 Stat. 645 Section, act Mar. 4, 1923, ch. 252, title II, § 209(b), 42 Stat. 1467, authorized Comptroller to fix in advance pay of deputy comptrollers, examiners, clerks, and certain other employees. § 10. Salaries of Deputy Comptrollers, examiners, and other employees as part of bank exam- ination expenses The salaries of the Deputy Comptrollers and of all national bank examiners and assistant exam- iners assigned to duty in the office of the bureau in Washington in connection with the super- vision of national banks shall be considered part of the expenses of the examinations provided for by subchapter XV of chapter 3 of this title. (Mar. 4, 1923, ch. 252, title II, § 209(b), 42 Stat. 1467; Pub. L. 86–251, § 1(c)(2), Sept. 9, 1959, 73 Stat. 488.) Editorial Notes REFERENCES IN TEXT Subchapter XV [§ 481 et seq.] of chapter 3 of this title, referred to in text, was in the original a reference to section 5240 of the Revised Statutes. CODIFICATION Section is comprised of subsec. (b), fifth sentence, of section 209 of act Mar. 4, 1923. For classification to this title of other provisions of section 209, see Tables. AMENDMENTS 1959—Pub. L. 86–251 included all Deputy Comptrollers instead of only two deputy comptrollers and struck out provisions deeming the salaries of deputy comptroller, examiners, assistant examiners, clerks and other em- ployees as expenses of administration of national agri- cultural credit corporation provisions and considering the salary of the additional deputy comptroller as part- ly an expense of administration in proportion to time spent in such administration. § 11. Interest in national banks It shall not be lawful for the Comptroller or the Deputy Comptroller of the Currency, either directly or indirectly, to hold an interest in any national bank or any Federal savings associa- tion. (R.S. § 329; Pub. L. 106–569, title XII, § 1233(b), Dec. 27, 2000, 114 Stat. 3037; Pub. L. 111–203, title III, § 314(c), July 21, 2010, 124 Stat. 1524.) Editorial Notes CODIFICATION R.S. § 329 derived from act June 3, 1864, ch. 106, § 1, 13 Stat. 99, which was the National Bank Act. See section 38 of this title. AMENDMENTS 2010—Pub. L. 111–203 inserted ‘‘or any Federal savings association’’ before the period. Page 5 TITLE 12—BANKS AND BANKING § 14a 1 See References in Text note below. 2000—Pub. L. 106–569 substituted ‘‘to hold an interest in any national bank’’ for ‘‘to be interested in any asso- ciation issuing national currency under the laws of the United States’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2010 AMENDMENT Amendment by Pub. L. 111–203 effective on the trans- fer date, see section 314(d) of Pub. L. 111–203, set out as a note under section 1 of this title. § 12. Seal of Comptroller The seal devised by the Comptroller of the Currency for his office, and approved by the Sec- retary of the Treasury, shall continue to be the seal of office of the comptroller, and may be re- newed when necessary. A description of the seal, with an impression thereof, and a certificate of approval by the Secretary of the Treasury, shall be filed in the office of the Secretary of State. (R.S. § 330; Feb. 18, 1875, ch. 80, § 1, 18 Stat. 317.) Editorial Notes CODIFICATION R.S. § 330 derived from act June 3, 1864, ch. 106, § 2, 13 Stat. 100, which was the National Bank Act. See sec- tion 38 of this title. Executive Documents EXCEPTION AS TO TRANSFER OF FUNCTIONS Functions vested by any provision of law in Comp- troller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under section 1 of this title. § 13. Rooms for Currency Bureau There shall be assigned, from time to time, to the Comptroller of the Currency, by the Sec- retary of the Treasury, suitable rooms in the Treasury Building for conducting the business of the Currency Bureau, containing safe and secure fireproof vaults, in which the Comptroller shall deposit and safely keep all the plates not nec- essarily in the possession of engravers or print- ers, and other valuable things belonging to his department; and the Comptroller shall from time to time furnish the necessary furniture, stationery, fuel, lights, and other proper conven- iences for the transaction of the business of his office. (R.S. § 331.) Editorial Notes REFERENCES IN TEXT The bureau referred to in text is known as the Office of the Comptroller of the Currency. CODIFICATION R.S. § 331 derived from act June 3, 1864, ch. 106, § 3, 13 Stat. 100, which was the National Bank Act. See sec- tion 38 of this title. Executive Documents EXCEPTION AS TO TRANSFER OF FUNCTIONS Functions vested by any provision of law in Comp- troller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under section 1 of this title. § 14. Report of Comptroller The Comptroller of the Currency shall make an annual report to Congress. The report re- quired under this section shall include the re- port required under section 57a(f)(7) 1 of title 15. (R.S. § 333; Feb. 18, 1875, ch. 80, § 1, 18 Stat. 317; Aug. 7, 1946, ch. 770, § 1(39), 60 Stat. 869; Pub. L. 106–569, title XI, § 1103(c), Dec. 27, 2000, 114 Stat. 3031.) Editorial Notes REFERENCES IN TEXT Section 57a(f)(7) of title 15, referred to in text, was re- pealed by Pub. L. 111–203, title X, § 1092(3), July 21, 2010, 124 Stat. 2095. CODIFICATION R.S. § 333 derived from acts June 3, 1864, ch. 106, § 61, 13 Stat. 117, and Feb. 19, 1873, ch. 166, 17 Stat. 466. Act June 3, 1864, was the National Bank Act. See section 38 of this title. AMENDMENTS 2000—Pub. L. 106–569 inserted at end ‘‘The report re- quired under this section shall include the report re- quired under section 57a(f)(7) of title 15.’’ 1946—Act Aug. 7, 1946, repealed in the opening clause, the requirement that the report to Congress shall be submitted at the commencement of its session, and re- pealed all provisions prescribing contents of the exhib- its in the report. Executive Documents EXCEPTION AS TO TRANSFER OF FUNCTIONS Functions vested by any provision of law in Comp- troller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under section 1 of this title. § 14a. Data standards; open data publication (a) Data standards (1) Requirement The Comptroller of the Currency shall, by rule, adopt data standards for all collections of information that are regularly filed with or submitted to the Comptroller of the Currency by any entity with respect to which the Office of the Comptroller of the Currency is the ap- propriate Federal banking agency (as defined in section 1813 of this title). (2) Consistency The data standards required under para- graph (1) shall incorporate, and ensure com- patibility with (to the extent feasible), all ap- plicable data standards established in the rules promulgated under section 5334 of this title, including, to the extent practicable, by having the characteristics described in clauses (i) through (vi) of subsection (c)(1)(B) of such section 5334. (b) Open data publication All public data assets published by the Comp- troller of the Currency under title LXII or the Dodd-Frank Wall Street Reform and Consumer Protection Act (Public Law 111–203; 124 Stat. 1376) shall be—