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 Repealed.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 provisions allowing the Board of Governors of the Federal Reserve System to determine the proper apportioning between the Fed- eral Reserve banks of the charges for the redemption by the Treasurer of the United States of Federal Re- serve notes that are unidentifiable as to bank of issue for provisions that set out the exact formula for deter- mining the proper apportioning of charges using a pro- portion based upon the amount of Federal Reserve notes of each Federal Reserve bank in circulation in the 31st day of December of the year preceding the date of redemption, with the amount apportioned under the formula charged by the Treasurer of the United States against deposit in the gold-redemption fund made by the bank or its Federal Reserve agent. 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. §§ 123 to 126. Repealed. Pub. L. 103–325, title VI, § 602(e)(12), (13), (f)(4)(C), (6), Sept. 23, 1994, 108 Stat. 2292, 2293 Section 123, R.S. § 5195; June 20, 1874, ch. 343, § 3, 18 Stat. 123, related to redemption of notes by bank at own counter. Section 124, R.S. § 5184; June 23, 1874, ch. 455, § 1, 18 Stat. 206, related to destroying and replacing notes unfit for use. Section 125, act July 28, 1892, ch. 317, 27 Stat. 322, re- lated to redemption of lost or stolen notes. Section 126, act June 20, 1874, ch. 343, § 8, 18 Stat. 125, related to duty of Treasurer, designated depositaries, and national-bank depositaries of United States to re- turn notes of failed or liquidated banks to Treasury for redemption. § 127. Repealed. Pub. L. 89–554, § 8(a), Sept. 6, 1966, 80 Stat. 633 Section, act Mar. 3, 1875, ch. 130, § 3, 18 Stat. 399, pro- vided for a clerical force for redemption of circulating notes. SUBCHAPTER VII—PROCEEDINGS ON FAIL- URE OF BANK TO REDEEM CIRCULATING NOTES §§ 131 to 138. Repealed. Pub. L. 103–325, title VI, § 602(e)(14)–(21), Sept. 23, 1994, 108 Stat. 2292 Section 131, R.S. § 5226; June 20, 1874, ch. 343, § 3, 18 Stat. 123, related to protest of notes and waiver of de- mand and notice of protest. Section 132, R.S. § 5227, related to appointment by Comptroller of the Currency of special agent to exam- ine failure of national banking association to redeem its circulating notes and provided for forfeiture of asso- ciation’s bonds to United States based on findings of agent. Section 133, R.S. § 5228; Feb. 18, 1875, ch. 80, § 1, 18 Stat. 320, prohibited banking associations from con- tinuing in business after default. Section 134, R.S. § 5229, provided that, upon declara- tion of forfeiture of association’s bonds, Comptroller of the Currency was to notify holders of circulating notes to present notes for payment and was authorized to cancel bonds pledged by association. Section 135, R.S. § 5232, related to disposition of re- deemed notes and perpetuation of evidence of payment of such notes. Section 136, R.S. § 5233, related to cancellation of re- deemed notes. Section 137, R.S. § 5230, provided Comptroller of the Currency with option of selling defaulting association’s bonds at auction, rather than cancelling them, and granted United States paramount lien on all associa- tion assets in case of deficiencies from such sale. Section 138, R.S. § 5231, related to private sale of de- faulting association’s bonds by Comptroller of the Cur- rency. SUBCHAPTER VIII—RESERVE CITIES; LAWFUL RESERVES § 141. Omitted Editorial Notes CODIFICATION Section, R.S. § 5191 (part); acts Dec. 23, 1913, ch. 6, § 2 (part), 38 Stat. 251; Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704, which set out a list of reserve and central reserve cities and permitted the Board of Governors of the Federal Reserve System to reclassify, add to, or terminate the designation of such cities, was appar- ently included in the 1926 ed. of the Code on the basis of authorities other than the source credits. Accord- ingly, and because the continuing accuracy of the table was doubtful, this section was omitted. Some of the other provisions of R.S. § 5191 are classi- fied to sections 142 and 143 of this title and some were not included in the Code. For classification of other provisions of section 2 of act Dec. 23, 1913, see Codification note set out under section 222 of this title.