Title 12 — Banks and Banking
Chapter 3 — Federal Reserve System
§ 227. “Banking Act of 1933”
Statutory text
The short title of the Act of June 16, 1933, ch. 89, 48 Stat. 162, shall be the “Banking Act of 1933.”
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.
Banking Act of 1933
Pub. L. 73–89 § 1 · 48 Stat. 162
Enacted · 12 U.S.C. § 227
(June 16, 1933, ch. 89, § 1, 48 Stat. 162.)
Source evidence
Code source credit
(June 16, 1933, ch. 89, § 1, 48 Stat. 162.)Enacted provision · exact public law section
(1) Member bank having controlling interest. Of which a member bank, directly or indirectly, owns or controls either a majority of the voting shares or more than 50 per centum of the number of shares voted for the election of its directors, trustees, or other persons exercising similar functions at the preceding election, or controls in any manner the election of a majority of its directors, trustees, or other persons exercising similar functions; or
1 of 1 references resolved to an enrolled provision
Editorial Notes
References in Text
The Banking Act of 1933, also known as the Glass-Steagall Act, 1933, referred to in text, is classified to sections 24, 33, 34a, 36, 51, 52, 61, 64a, 71a, 77, 78, 84, 85, 161, 197a, 221a, 227, 242, 244, 248, 289, 301, 304, 321, 329, 333 to 338, 347, 348a, 371b, 371c, 371d, 374a, 375a, 377, 378, 481, and 632 of this title. For complete classification of this Act to the Code, see Tables.
Statutory Notes and Related Subsidiaries
Right To Amend, Alter or Repeal; Separability
Act June 16, 1933, ch. 89, § 34, 48 Stat. 195, provided: “The right to alter, amend, or repeal this Act is hereby expressly reserved. If any provision of this act, or the application thereof to any person or circumstances, is held invalid, the remainder of the act, and the application of such provision to other persons or circumstances, shall not be affected thereby”.
Credits
(June 16, 1933, ch. 89, § 1, 48 Stat. 162.)