12-U.S.C.-122A
§122A – Redeemed Notes of Unidentifiable Issue; Funds Charged Against
Pathway
Title 12 > Chapter 2 > Subchapter VI > Section 122a
Details
- Reference: Section 122a
- Legend: §122A – Redeemed Notes of Unidentifiable Issue; Funds Charged Against
- USCode Year: 2013
Provision Content
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 sections 122 and 445 of this title; and charges for Federal Reserve notes redeemed by the Treasurer 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 System.
(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.)
References in Text
Section 122 of this title, referred to in text, was repealed by Pub. L. 97–258, §5(b), Sept. 13, 1982, 96 Stat. 1068.
Section 445 of this title, referred to in text, was repealed by act June 12, 1945, ch. 186, §3, 59 Stat. 238.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 Federal Reserve banks of the charges for the redemption by the Treasurer of the United States of Federal Reserve notes that are unidentifiable as to bank of issue for provisions that set out the exact formula for determining the proper apportioning of charges using a proportion 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.
Transfer of Functions
For transfer of functions to Secretary of the Treasury, see note set out under section 55 of this title.
U.S. Encyclopedia of Law Coverage
12-U.S.C.-122 in the Legal Encyclopedia: Banking Law
In this entry about 12-U.S.C.-122, find legal reference material, bibliographies and premiere content related to banking law in the American Encyclopedia of Law, presenting a comprehensive view of the United States banking law-specific issues, written by authorities in the field.
12-U.S.C.-92A in the Legal Encyclopedia: Credit Institutions
In this entry about 12-U.S.C.-92A, find legal reference material, bibliographies and premiere content related to credit institutions in the American Encyclopedia of Law, presenting a comprehensive view of the United States credit institutions-specific issues, written by authorities in the field.
12-U.S.C.-90 in the Legal Encyclopedia: Banks
In this entry about 12-U.S.C.-90, find legal reference material, bibliographies and premiere content related to banks in the American Encyclopedia of Law, presenting a comprehensive view of the United States banks-specific issues, written by authorities in the field.
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