12-U.S.C.-419
§419 – Delivery of Notes Prior to Delivery to Banks
Pathway
Title 12 > Chapter 3 > Subchapter XII > Section 419
Details
- Reference: Section 419
- Legend: §419 – Delivery of Notes Prior to Delivery to Banks
- USCode Year: 2013
Provision Content
When such notes have been prepared, the notes shall be delivered to the Board of Governors of the Federal Reserve System subject to the order of the Secretary of the Treasury for the delivery of such notes in accordance with this chapter.
(Dec. 23, 1913, ch. 6, §16 (par.), 38 Stat. 267; May 29, 1920, ch. 214, §1, 41 Stat. 654; Pub. L. 103–325, title VI, §602(g)(4), Sept. 23, 1994, 108 Stat. 2293.)
References in Text
This chapter, referred to in text, was in the original this Act, meaning act Dec. 23, 1913, ch. 6, 38 Stat. 251, as amended, known as the Federal Reserve Act. For complete classification of this Act to the Code, see References in Text note set out under section 226 of this title and Tables.
Codification
Section is comprised of the eighth par. (formerly the ninth par.) of section 16 of act Dec. 23, 1913. For classification to this title of other pars. of section 16, see Codification note set out under section 411 of this title.
On authority of act May 29, 1920, which abolished offices of Assistant Treasurers and distributed their functions, designated depositary substituted for subtreasury in 1926 ed. of the Code.
Amendments
1994—Pub. L. 103–325, which directed general amendment of [t]he 9th undesignated paragraph of section 16 of the Federal Reserve Act (12 U.S.C. 419), was executed to this section to reflect the probable intent of Congress. Prior to amendment, section read as follows: When such notes have been prepared, they shall be deposited in the Treasury, or in the designated depositary or mint of the United States nearest the place of business of each Federal reserve bank and shall be held for the use of such bank subject to the order of the Comptroller of the Currency for their delivery, as provided by this chapter.
U.S. Encyclopedia of Law Coverage
12-U.S.C.-419 in the Legal Encyclopedia: Banking Law
In this entry about 12-U.S.C.-419, 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.-413 in the Legal Encyclopedia: Federal Reserve System
In this entry about 12-U.S.C.-413, 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.
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