12-U.S.C.-486
§486 – Waiver of Requirements As to Reports From Or Examinations of Affiliates
Pathway
Title 12 > Chapter 3 > Subchapter XV > Section 486
Details
- Reference: Section 486
- Legend: §486 – Waiver of Requirements As to Reports From Or Examinations of Affiliates
- USCode Year: 2013
Provision Content
Whenever member banks are required to obtain reports from affiliates, or whenever affiliates of member banks are required to submit to examination, the Board of Governors of the Federal Reserve System or the Comptroller of the Currency, as the case may be, may waive such requirements with respect to any such report or examination of any affiliate if in the judgment of the said Board or Comptroller, respectively, such report or examination is not necessary to disclose fully the relations between such affiliate and such bank and the effect thereof upon the affairs of such bank.
(Dec. 23, 1913, ch. 6, §21 (par.), as added Aug. 23, 1935, ch. 614, title III, §325, 49 Stat. 715.)
Codification
This section was not enacted as part of R.S. §5240 which comprises this subchapter. Act Dec. 23, 1913, derived from R.S. §5240.
Exception as to Transfer of Functions
Functions vested by any provision of law in Comptroller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under section 1 of this title.
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.-482 in the Legal Encyclopedia: Federal Reserve System
In this entry about 12-U.S.C.-482, 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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