12-U.S.C.-4007

§4007 – Effect On State Law

Pathway

Title 12 > Chapter 41 > Section 4007

Details

• Reference: Section 4007
• Legend: §4007 – Effect On State Law
• USCode Year: 2013

Provision Content

(a) In general

Any law or regulation of any State in effect on September 1, 1989, which requires that funds deposited or received for deposit in an account at a depository institution chartered by such State be made available for withdrawal in a shorter period of time than the period of time provided in this chapter or in regulations prescribed by the Board under this chapter (as in effect on September 1, 1989) shall—

(1) supersede the provisions of this chapter and any regulations by the Board to the extent such provisions relate to the time by which funds deposited or received for deposit in an account shall be available for withdrawal; and

(2) apply to all federally insured depository institutions located within such State.

(b) Override of certain State laws

Except as provided in subsection (a) of this section, this chapter and regulations prescribed under this chapter shall supersede any provision of the law of any State, including the Uniform Commercial Code as in effect in such State, which is inconsistent with this chapter or such regulations.

(Pub. L. 100–86, title VI, §608, Aug. 10, 1987, 101 Stat. 647.)

U.S. Encyclopedia of Law Coverage

12-U.S.C.-3903 in the Legal Encyclopedia: Banking Law

In this entry about 12-U.S.C.-3903, 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.

Topic Map

• Browse the Topic Map in relation with Title 12 (Banks And Banking) guided by subject interests.