12 U.S.C. § 632 — Jurisdiction of United States courts; dis-

Page 196 TITLE 12—BANKS AND BANKING § 631 1 So in original. Probably should be ‘‘of’’. Reserve System, or any agent or examiner ap- pointed to examine the affairs of such receiver, shall make any false entry in any book, report, or record of any matter connected with the du- ties of such receiver; and every person who with like intent aids or abets any officer, director, clerk, employee, or agent of any corporation or- ganized under this subchapter, or receiver or clerk or employee of such receiver as aforesaid in any violation of this subchapter, shall upon conviction thereof be imprisoned for not less than two years nor more than ten years, and may also be fined not more than $5,000, in the discretion of the court. (Dec. 23, 1913, ch. 6, § 25A (par.), formerly § 25(a), as added Dec. 24, 1919, ch. 18, 41 Stat. 378; amend- ed Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704; renumbered § 25A, Pub. L. 102–242, title I, § 142(e)(2), Dec. 19, 1991, 105 Stat. 2281.) Editorial Notes REFERENCES IN TEXT This subchapter, referred to in text, was in the origi- nal ‘‘this section’’, meaning section 25A of act Dec. 23, 1913, which is classified to this subchapter (§ 611 et seq.). CODIFICATION Section is comprised of par. 22 (undesignated) of sec- tion 25A of act Dec. 23, 1913, which comprises this sub- chapter. For complete classification of section 25A of this Act, see Codification note set out under section 611 of this title. 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. § 631. False representations as to liability of United States for acts of corporation; punish- ment Whoever being connected in any capacity with any corporation organized under this sub- chapter, represents in any way that the United States is liable for the payment of any bond or other obligation, or the interest thereon, issued or incurred by any corporation organized under this subchapter, or that the United States in- curs any liability in respect of any act or omis- sion of the corporation, shall be punished by a fine or 1 not more than $10,000 and by imprison- ment for not more than five years. (Dec. 23, 1913, ch. 6, § 25A (par.), formerly § 25(a), as added Dec. 24, 1919, ch. 18, 41 Stat. 378; renum- bered § 25A, Pub. L. 102–242, title I, § 142(e)(2), Dec. 19, 1991, 105 Stat. 2281.) Editorial Notes REFERENCES IN TEXT This subchapter, referred to in text, was in the origi- nal ‘‘this section’’, meaning section 25A of act Dec. 23, 1913, which is classified to this subchapter (§ 611 et seq.). Organized under this subchapter, referred to the sec- ond time in text, was in the original ‘‘organized here- under’’, meaning under section 25A of act Dec. 23, 1913. CODIFICATION Section is comprised of par. 23 (undesignated) of sec- tion 25A of act Dec. 23, 1913, which comprises this sub- chapter. For complete classification of section 25A of this Act, see Codification note set out under section 611 of this title. § 632. Jurisdiction of United States courts; dis- position by banks of foreign owned property Notwithstanding any other provision of law, all suits of a civil nature at common law or in equity to which any corporation organized under the laws of the United States shall be a party, arising out of transactions involving inter- national or foreign banking, or banking in a de- pendency or insular possession of the United States, or out of other international or foreign financial operations, either directly or through the agency, ownership, or control of branches or local institutions in dependencies or insular pos- sessions of the United States or in foreign coun- tries, shall be deemed to arise under the laws of the United States, and the district courts of the United States shall have original jurisdiction of all such suits; and any defendant in any such suit may, at any time before the trial thereof, remove such suits from a State court into the district court of the United States for the proper district by following the procedure for the re- moval of causes otherwise provided by law. Such removal shall not cause undue delay in the trial of such case and a case so removed shall have a place on the calendar of the United States court to which it is removed relative to that which it held on the State court from which it was re- moved. Notwithstanding any other provision of law, all suits of a civil nature at common law or in equity to which any Federal Reserve bank shall be a party shall be deemed to arise under the laws of the United States, and the district courts of the United States shall have original jurisdiction of all such suits; and any Federal Reserve bank which is a defendant in any such suit may, at any time before the trial thereof, remove such suit from a State court into the district court of the United States for the proper district by following the procedure for the re- moval of causes otherwise provided by law. No attachment or execution shall be issued against any Federal Reserve bank or its property before final judgment in any suit, action, or proceeding in any State, county, municipal, or United States court. Whenever (1) any Federal Reserve bank has re- ceived any property from or for the account of a foreign state which is recognized by the Govern- ment of the United States, or from or for the ac- count of a central bank of any such foreign state, and holds such property in the name of such foreign state or such central bank; (2) a representative of such foreign state who is rec- ognized by the Secretary of State as being the accredited representative of such foreign state to the Government of the United States has cer- tified to the Secretary of State the name of a person as having authority to receive, control, or dispose of such property; and (3) the author- ity of such person to act with respect to such property is accepted and recognized by the Sec- retary of State, and so certified by the Sec- Page 197 TITLE 12—BANKS AND BANKING § 633 retary of State to the Federal Reserve bank, the payment, transfer, delivery, or other disposal of such property by such Federal Reserve bank to or upon the order of such person shall be conclu- sively presumed to be lawful and shall con- stitute a complete discharge and release of any liability of the Federal Reserve bank for or with respect to such property. Whenever (1) any insured bank has received any property from or for the account of a for- eign state which is recognized by the Govern- ment of the United States, or from or for the ac- count of a central bank of any such foreign state, and holds such property in the name of such foreign state or such central bank; (2) a representative of such foreign state who is rec- ognized by the Secretary of State as being the accredited representative of such foreign state to the Government of the United States has cer- tified to the Secretary of State the name of a person as having authority to receive, control, or dispose of such property; and (3) the author- ity of such person to act with respect to such property is accepted and recognized by the Sec- retary of State, and so certified by the Sec- retary of State to such insured bank, the pay- ment, transfer, delivery, or other disposal of such property by such bank to or upon the order of such person shall be conclusively presumed to be lawful and shall constitute a complete dis- charge and release of any liability of such bank for or with respect to such property. Any suit or other legal proceeding against any insured bank or any officer, director, or employee thereof, arising out of the receipt, possession, or disposi- tion of any such property shall be deemed to arise under the laws of the United States and the district courts of the United States shall have exclusive jurisdiction thereof, regardless of the amount involved; and any such bank or any officer, director, or employee thereof which is a defendant in any such suit may, at any time be- fore trial thereof, remove such suit from a State court into the district court of the United States for the proper district by following the procedure for the removal of causes otherwise provided by law. Nothing in this section shall be deemed to re- peal or to modify in any manner any of the pro- visions of the Gold Reserve Act of 1934, as amended, the Silver Purchase Act of 1934, as amended, or subdivision (b) of section 5 of the Act of October 6, 1917, as amended, or any ac- tions, regulations, rules, orders, or proclama- tions taken, promulgated, made, or issued pur- suant to any of such statutes. In any case in which a license to act with respect to any prop- erty referred to in this section is required under any of said statutes, regulations, rules, orders, or proclamations, notification to the Secretary of State by the proper Government officer or agency of the issuance of an appropriate license or that appropriate licenses will be issued on ap- plication shall be a prerequisite to any action by the Secretary of State pursuant to this section, and the action of the Secretary of State shall re- late only to such property as is included in such notification. Each such notification shall in- clude the terms and conditions of such license or licenses and a description of the property to which they relate. For the purposes of this section, (1) the term ‘‘property’’ includes gold, silver, currency, cred- its, deposits, securities, choses in action, and any other form of property, the proceeds there- of, and any right, title, or interest therein; (2) the term ‘‘foreign state’’ includes any foreign government or any department, district, prov- ince, county, possession, or other similar gov- ernmental organization or subdivision of a for- eign government, and any agency or instrumen- tality of any such foreign government or of any such organization or subdivision; (3) the term ‘‘central bank’’ includes any foreign bank or banker authorized to perform any one or more of the functions of a central bank; (4) the term ‘‘person’’ includes any individual, or any cor- poration, partnership, association, or other similar organization; and (5) the term ‘‘insured bank’’ shall have the meaning given to it in sec- tion 12B of this Act. (Dec. 23, 1913, ch. 6, § 25B, formerly § 25(b), as added June 16, 1933, ch. 89, § 15, 48 Stat. 184; amended Apr. 7, 1941, ch. 43, § 2, 55 Stat. 131; re- numbered § 25B, Pub. L. 102–242, title I, § 142(e)(3), Dec. 19, 1991, 105 Stat. 2281.) Editorial Notes REFERENCES IN TEXT The Gold Reserve Act of 1934, as amended, referred to in text, is act Jan. 30, 1934, ch. 6, 48 Stat. 337, which en- acted sections 315b, 405b, 408a, 408b, 440 to 446, 754a, 754b, 822a, 822b, and 824 of former Title 31, Money and Fi- nance, and amended sections 314, 316, 733, 734, 752, 753, 767, 771, and 821 of former Title 31 and sections 411, 412, 413, 414, 415, 417, and 467 of this title. Title 31 was re- vised, codified, and enacted into law by Pub. L. 97–258, § 1, Sept. 13, 1982, 96 Stat. 877. For disposition of sec- tions of former Title 31 into revised Title 31, see Table preceding section 101 of Title 31. For complete classi- fication of this Act to the Code, see Tables. The Silver Purchase Act of 1934, as amended, referred to in text, is act June 19, 1934, ch. 674, 48 Stat. 1178, which was classified to sections 311a, 316a, 316b, 405a, 448 to 448e, 734a, and 734b of former Title 31, Money and Finance, and was repealed by Pub. L. 88–36, title I, § 1, June 4, 1963, 77 Stat. 54. For complete classification of this Act to the Code, see Tables. Subdivision (b) of section 5 of the Act of October 6, 1917, referred to in text, is classified to section 4305(b) of Title 50, War and National Defense. Section 12B of this Act, referred to in the text, was section 12B of the Federal Reserve Act and was for- merly classified to section 264 of this title. Section 12B was withdrawn from the Federal Reserve Act and made a separate act to be known as the Federal Deposit In- surance Act by section 1 of act Sept. 21, 1950, ch. 967, 64 Stat. 873. The Federal Deposit Insurance Act is classi- fied generally to chapter 16 (§ 1811 et seq.) of this title. CODIFICATION Section was enacted as section 25B, formerly section 25(b), of the Federal Reserve Act, and not as part of sec- tion 25A of that Act which comprises this subchapter. AMENDMENTS 1941—Act Apr. 7, 1941, added last four pars. § 633. Potential liability on foreign accounts (a) Exceptions from repayment requirement A member bank shall not be required to repay any deposit made at a foreign branch of the bank if the branch cannot repay the deposit due to—