12-U.S.C.-604

12-U.S.C.-604

§604 – Accounts of Foreign Branches; Profit and Loss

Pathway

Title 12 > Chapter 6 > Subchapter I > Section 604

Details

  • Reference: Section 604
  • Legend: §604 – Accounts of Foreign Branches; Profit and Loss
  • USCode Year: 2013

Provision Content

Every national banking association operating foreign branches shall conduct the accounts of each foreign branch independently of the accounts of other foreign branches established by it and of its home office, and shall at the end of each fiscal period transfer to its general ledger the profit or loss accrued at each branch as a separate item.

(Dec. 23, 1913, ch. 6, §25 (par.), 38 Stat. 273; Sept. 7, 1916, ch. 461, 39 Stat. 756.)

Codification

Section is comprised of the sixth undesignated par. of section 25 of act Dec. 23, 1913, which comprises this subchapter. For classification of other pars. of section 25 of this Act, see Codification note under section 601 of this title.

The words national banking association operating foreign branches were in the original such banking association.

Amendments

1916—Act Sept. 7, 1916, substituted accrued for accruing.

U.S. Encyclopedia of Law Coverage

12-U.S.C.-602 in the Legal Encyclopedia: Banking Law

In this entry about 12-U.S.C.-602, 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.-2901 in the Legal Encyclopedia: Investment

In this entry about 12-U.S.C.-2901, find legal reference material, bibliographies and premiere content related to investment in the American Encyclopedia of Law, presenting a comprehensive view of the United States investment-specific issues, written by authorities in the field.

Title 12 – Banks And Banking in the Legal Encyclopedia: Foreign Banking

In this entry about Title 12 – Banks And Banking, find legal reference material, bibliographies and premiere content related to foreign banking in the American Encyclopedia of Law, presenting a comprehensive view of the United States foreign banking-specific issues, written by authorities in the field.

12-U.S.C.-5706 in the Legal Encyclopedia: Business

In this entry about 12-U.S.C.-5706, find legal reference material, bibliographies and premiere content related to business in the American Encyclopedia of Law, presenting a comprehensive view of the United States business-specific issues, written by authorities in the field.

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