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Title 12 — Banks and Banking

Chapter 2 — National Banks

§ 200. Payment

Statutory text

Whenever any such request shall be allowed as hereinbefore provided, the said Comptroller of the Currency shall be, and is, empowered to draw upon and from such funds of any such trust as may be deposited with the Treasurer of the United States for the benefit of the bank in interest, to the amount as may be recommended and allowed and for the purpose for which such allowance was made: Provided, however, That all payments to be made for or on account of the purchase of any such property and under any such allowance shall be made by the Comptroller of the Currency direct, with the approval of the Secretary of the Treasury, for such purpose only and in such manner as he may determine and order.

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

  1. Pub. L. 49–28 § 3 · 24 Stat. 8

    Enacted · 12 U.S.C. § 200

    (Mar. 29, 1886, ch. 28, § 3, 24 Stat. 8.)

    Source evidence

    Code source credit
    (Mar. 29, 1886, ch. 28, § 3, 24 Stat. 8.)

    Enacted provision · exact public law section
    Sec. 3. That whenever any such request shall be allowed as hereinbefore provided, the said Comptroller of the Currency shall be, and is, empowered to draw upon and from such funds of any' such trust as may be deposited with the Treasurer of the United States for the benefit of the bank in interest, to the amount as may be recommended and allowed and for the put pose for which such allowance was made: Provided, however, That all payments to be made for or on account of the Proviso. purchase of any such property and under any such allowance shall be made by the Comptroller of the Currency direct, with the approval of Approval of payments. the Secretary of the Treasury, for such purpose only and in such manner as he may determine and order.

1 of 1 references resolved to an enrolled provision

Statutory Notes and Related Subsidiaries

Application to District of Columbia

Provisions of this section were made applicable to banks, etc., in the District of Columbia by act Mar. 4, 1933, ch. 274, § 4, 47 Stat. 1567.

Executive Documents

Transfer of Functions

For transfer of functions to Secretary of the Treasury, see note set out under section 55 of this title.

Credits

(Mar. 29, 1886, ch. 28, § 3, 24 Stat. 8.)

Parsed from the official OLRC USLM XML in data/usc_all/usc12.xml · release point 119-108 · OLRC build 2026-07-23

USLM identifier /us/usc/t12/s200