Title 12 — Banks and Banking
Chapter 3 — Federal Reserve System
§ 419. Delivery of notes prior to delivery to banks
Statutory text
When such notes have been prepared, the notes shall be delivered to the Board of Governors of the Federal Reserve System subject to the order of the Secretary of the Treasury for the delivery of such notes in accordance with this chapter.
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. 63–6 § 16 · 38 Stat. 103
Enacted · 12 U.S.C. § 419
Dec. 23, 1913, ch. 6, § 16 (par.), 38 Stat. 267
Source evidence
Code source credit
Dec. 23, 1913, ch. 6, § 16 (par.), 38 Stat. 267Riegle Community Development and Regulatory Improvement Act of 1994
Pub. L. 103–325 title VI § 602(g)(4) · 108 Stat. 2160
Amended · 12 U.S.C. § 419
Pub. L. 103–325, which directed general amendment of “[t]he 9th undesignated paragraph of section 16 of the Federal Reserve Act (12 U.S.C. 419)”, was executed to this section to reflect the probable intent of Congress. Prior to amendment, section read as follows: “When such notes have been prepared, they shall be deposited in the Treasury, or in the designated depositary or mint of the United States nearest the place of business of each Federal reserve bank and shall be held for the use of such bank subject to the order of the Comptroller of the Currency for their delivery, as provided by this chapter.”
Source evidence
Code amendment note
Pub. L. 103–325, which directed general amendment of “[t]he 9th undesignated paragraph of section 16 of the Federal Reserve Act (12 U.S.C. 419)”, was executed to this section to reflect the probable intent of Congress. Prior to amendment, section read as follows: “When such notes have been prepared, they shall be deposited in the Treasury, or in the designated depositary or mint of the United States nearest the place of business of each Federal reserve bank and shall be held for the use of such bank subject to the order of the Comptroller of the Currency for their delivery, as provided by this chapter.”Enacted provision · exact public law section
(4) The 9th undesignated paragraph of section 16 of the Federal Reserve Act (12 U.S.C. 419) is amended to read as follows: “When such notes have been prepared, the notes shall be delivered to the Board of Governors of the Federal Reserve System subject to the order of the Secretary of the Treasury for the delivery of such notes in accordance with this Act.”.
1 of 2 references resolved to an enrolled provision · 1 partial
Editorial Notes
References in Text
This chapter, referred to in text, was in the original “this Act”, meaning act Dec. 23, 1913, ch. 6, 38 Stat. 251, as amended, known as the Federal Reserve Act. For complete classification of this Act to the Code, see References in Text note set out under section 226 of this title and Tables.
Codification
Section is comprised of the eighth par. (formerly the ninth par.) of section 16 of act . For classification to this title of other pars. of section 16, see Codification note set out under section 411 of this title.
On authority of act , which abolished offices of Assistant Treasurers and distributed their functions, “designated depositary” substituted for “subtreasury” in 1926 ed. of the Code.
Amendments
1994—Pub. L. 103–325, which directed general amendment of “[t]he 9th undesignated paragraph of section 16 of the Federal Reserve Act (12 U.S.C. 419)”, was executed to this section to reflect the probable intent of Congress. Prior to amendment, section read as follows: “When such notes have been prepared, they shall be deposited in the Treasury, or in the designated depositary or mint of the United States nearest the place of business of each Federal reserve bank and shall be held for the use of such bank subject to the order of the Comptroller of the Currency for their delivery, as provided by this chapter.”
Credits
1913–1994 · 3 acts
- 1913Dec. 23, 1913, ch. 6, § 16 (par.), 38 Stat. 267
- 1920May 29, 1920, ch. 214, § 1, 41 Stat. 654
- 1994Pub. L. 103–325, title VI, § 602(g)(4), , 108 Stat. 2293.
Show as published
(Dec. 23, 1913, ch. 6, § 16 (par.), 38 Stat. 267; May 29, 1920, ch. 214, § 1, 41 Stat. 654; Pub. L. 103–325, title VI, § 602(g)(4), , 108 Stat. 2293.)