12-U.S.C.-345

§345 – Rediscount of Notes, Drafts, and Bills For Member Banks; Limitation of Amount

Pathway

Title 12 > Chapter 3 > Subchapter IX > Section 345

Details

• Reference: Section 345
• Legend: §345 – Rediscount of Notes, Drafts, and Bills For Member Banks; Limitation of Amount
• USCode Year: 2013

Provision Content

The aggregate of notes, drafts, and bills upon which any person, copartnership, association, or corporation is liable as maker, acceptor, indorser, drawer, or guarantor, rediscounted for any member bank, shall at no time exceed the amount for which such person, copartnership, association, or corporation may lawfully become liable to a national banking association under the terms of section 84 of this title: Provided, however, That nothing in this section shall be construed to change the character or class of paper now eligible for rediscount by Federal reserve banks.

(Dec. 23, 1913, ch. 6, §13 (par.), 38 Stat. 264; Mar. 3, 1915, ch. 93, 38 Stat. 958; Sept. 7, 1916, ch. 461, 39 Stat. 752; Apr. 12, 1930, ch. 140, 46 Stat. 162.)

Codification

Section is comprised of the fifth par. of section 13 of act Dec. 23, 1913, as amended. The fifth par. constituted the third par. of section 13 in 1916 (39 Stat. 752), became the fourth par. in 1923 (42 Stat. 1478), and became the fifth par. in 1932 (47 Stat. 715). For further details, see Codification notes set out under sections 343 and 344 of this title. For classification to this title of other pars. of section 13, see Codification note set out under section 342 of this title.

Amendments

1930—Act Apr. 12, 1930, among other changes, inserted proviso.

U.S. Encyclopedia of Law Coverage

12-U.S.C.-248 in the Legal Encyclopedia: Banking Law

In this entry about 12-U.S.C.-248, 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.-2214 in the Legal Encyclopedia: Insurance

In this entry about 12-U.S.C.-2214, find legal reference material, bibliographies and premiere content related to insurance in the American Encyclopedia of Law, presenting a comprehensive view of the United States insurance-specific issues, written by authorities in the field.

12-U.S.C.-244 in the Legal Encyclopedia: Federal Reserve System

In this entry about 12-U.S.C.-244, find legal reference material, bibliographies and premiere content related to federal reserve system in the American Encyclopedia of Law, presenting a comprehensive view of the United States federal reserve system-specific issues, written by authorities in the field.

Topic Map

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