§ 335. Dealing in investment securities; limitations and conditions

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. 1913

   Gold Reserve Act of 1934

   Pub. L. 73–6 § 9 · 48 Stat. 337

   Enacted · 12 U.S.C. § 335

   Dec. 23, 1913, ch. 6, § 9 (par.), as added June 16, 1933, ch. 89, § 5(c), 48 Stat. 165

   Source evidence

   Code source credit
   Dec. 23, 1913, ch. 6, § 9 (par.), as added June 16, 1933, ch. 89, § 5(c), 48 Stat. 165

   Enacted provision · exact public law section
   Sec. 9. Section 3699 of the Revised Statutes (U.S.C., title 31, sec. R.S., sec. 3699, p. 731; U.S.C., p. 1024. 733) is amended to read as follows: “Sec. 3699. The Secretary of the Treasury may anticipate the Anticipating interest payment on public debt. payment of interest on the public debt, by a period not exceeding one year, from time to time, either with or without a rebate of interest upon the coupons, as to him may seem expedient; and he may Sale of gold in public interest. sell gold in any amounts, at home or abroad, in such manner and at such rates and upon such terms and conditions as he may deem most advantageous to the public interest, and the proceeds of any gold so sold shall be covered into the general fund of the Treasury: Provided, however, That the Secretary of the Treasury may sell the Proviso. Parity maintenance. gold which is required to be maintained as a reserve or as security for currency issued by the United States, only to the extent necessary to maintain such currency at a parity with the gold dollar.”

2. 1999

   Pub. L. 106–102 title I § 121(d)(2) · 113 Stat. 1338

   Inserted · 12 U.S.C. § 335

   Pub. L. 106–102 inserted at end “This section shall not apply to any interest held by a State member bank in accordance with section 24a of this title and subject to the same conditions and limitations provided in such section.”

   Source evidence

   Code amendment note
   Pub. L. 106–102 inserted at end “This section shall not apply to any interest held by a State member bank in accordance with section 24a of this title and subject to the same conditions and limitations provided in such section.”

   Enacted provision · exact public law section
   (2) Federal reserve act.— The 20th undesignated paragraph of section 9 of the Federal Reserve Act (12 U.S.C. 335) is amended by adding at the end the following: “This paragraph shall not apply to any interest held by a State member bank in accordance with section 5136A of the Revised Statutes of the United States and subject to the same conditions and limitations provided in such section.”.

   Effective date note
   Amendment by Pub. L. 106–102 effective 120 days after Nov. 12, 1999, see section 161 of Pub. L. 106–102, set out as a note under section 24 of this title.

2 of 2 references resolved to an enrolled provision