Title 12 — Banks and Banking
Chapter 3 — Federal Reserve System
§ 376. Rate of interest paid to directors, etc.
Statutory text
No member bank shall pay to any director, officer, attorney, or employee a greater rate of interest on the deposits of such director, officer, attorney, or employee than that paid to other depositors on similar deposits with such member bank.
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.
Pub. L. 65–6 § 22(e) · 40 Stat. 38
Enacted · 12 U.S.C. § 376
(Dec. 23, 1913, ch. 6, § 22(e), as added Sept. 26, 1918, ch. 177, § 5, 40 Stat. 971.)
Source evidence
Code source credit
(Dec. 23, 1913, ch. 6, § 22(e), as added Sept. 26, 1918, ch. 177, § 5, 40 Stat. 971.)
0 of 1 references resolved to an enrolled provision · 1 partial
Credits
(Dec. 23, 1913, ch. 6, § 22(e), as added Sept. 26, 1918, ch. 177, § 5, 40 Stat. 971.)