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Title 12 — Banks and Banking

Chapter 3 — Federal Reserve System

§ 245. Vacancies during recess of Senate

Statutory text

The President shall have power to fill all vacancies that may happen on the Board of Governors of the Federal Reserve System during the recess of the Senate by granting commissions which shall expire with the next session of the Senate.

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. 63–6 § 10 · 38 Stat. 103

    Enacted · 12 U.S.C. § 245

    Dec. 23, 1913, ch. 6, § 10 (par.), 38 Stat. 260

    Source evidence

    Code source credit
    Dec. 23, 1913, ch. 6, § 10 (par.), 38 Stat. 260

    Enacted provision · exact public law section
    Sec. 10. That each member of the board of arbitration created under the provisions of this Act shall receive such compensation as may be fixed by the Board of Mediation and Conciliation, together with his Appropriation for expenses. Post, p. 212. traveling and other necessary expenses. The sum of $25,000, or so much thereof as may be necessary, is hereby appropriated, to be immediately available and to continue available until the close of the fiscal year ending June thirtieth, nineteen hundred and fourteen, for the necessary and proper expenses incurred in connection with any arbitration or with the carrying on of the work of mediation and conciliation, including per diem, traveling, and other necessary expenses of members or employees of boards of arbitration and rent in the District of Columbia, furniture, office fixtures and supplies, books, salaries, traveling expenses, and other necessary expenses of members or employees of the Board of Mediation and Conciliation, to be approved by the chairman of said board and audited by the proper accounting officers of the Treasury.

1 of 1 references resolved to an enrolled provision

Editorial Notes

Codification

Section is comprised of fifth par. of section 10 of act . For classification to this title of other pars. of section 10, see Codification note set out under section 241 of this title.

Statutory Notes and Related Subsidiaries

Change of Name

Section 203(a) of act , changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.

Credits

1913–1935 · 3 acts
  1. 1913Dec. 23, 1913, ch. 6, § 10 (par.), 38 Stat. 260
  2. 1922June 3, 1922, ch. 205, 42 Stat. 620
  3. 1935Aug. 23, 1935, ch. 614, title II, § 203(a), 49, Stat. 704.
Show as published

(Dec. 23, 1913, ch. 6, § 10 (par.), 38 Stat. 260; June 3, 1922, ch. 205, 42 Stat. 620; Aug. 23, 1935, ch. 614, title II, § 203(a), 49, Stat. 704.)

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/s245