Title 12 — Banks and Banking
Chapter 3 — Federal Reserve System
§ 420. Control and direction of plates and dies; expense of issue and retirement of notes paid by banks
Statutory text
The plates and dies to be procured by the Secretary of the Treasury for the printing of such circulating notes shall remain under his control and direction, and the expenses necessarily incurred in executing the laws relating to the procuring of such notes, and all other expenses incidental to their issue and retirement, shall be paid by the Federal reserve banks, and the Board of Governors of the Federal Reserve System shall include in its estimate of expenses levied against the Federal reserve banks a sufficient amount to cover the expenses herein provided for.
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. § 420
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)(5) · 108 Stat. 2160
Substituted · 12 U.S.C. § 420
Pub. L. 103–325, which directed amendment of “[t]he 10th undesignated paragraph of section 16 of the Federal Reserve Act (12 U.S.C. 420)” by substituting “Secretary of the Treasury” for “Comptroller of the Currency” was executed by making the substitutions in this section to reflect the probable intent of Congress
Substituted · 12 U.S.C. § 420
Pub. L. 103–325, which directed amendment of “[t]he 10th undesignated paragraph of section 16 of the Federal Reserve Act (12 U.S.C. 420)” by substituting “Board of Governors of the Federal Reserve System” for “Federal Reserve Board” was executed by making the substitutions in this section to reflect the probable intent of Congress
Source evidence
Code amendment note
Pub. L. 103–325, which directed amendment of “[t]he 10th undesignated paragraph of section 16 of the Federal Reserve Act (12 U.S.C. 420)” by substituting “Secretary of the Treasury” for “Comptroller of the Currency” and “Board of Governors of the Federal Reserve System” for “Federal Reserve Board”, was executed by making the substitutions in this section to reflect the probable intent of Congress.Enacted provision · exact public law section
(5) The 10th undesignated paragraph of section 16 of the Federal Reserve Act (12 U.S.C. 420) is amended— (A) by striking “Comptroller of the Currency” and inserting “Secretary of the Treasury”; and (B) by striking “Federal Reserve Board” and inserting “Board of Governors of the Federal Reserve System”.
2 of 3 references resolved to an enrolled provision · 1 partial
Editorial Notes
References in Text
Phrase “herein provided for”, referred to in text, probably means as provided for in section 16 of act . For classification to this title of section 16, see Codification note set out under section 411 of this title.
Codification
Section is comprised of the ninth par. (formerly the tenth 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.
Amendments
1994—Pub. L. 103–325, which directed amendment of “[t]he 10th undesignated paragraph of section 16 of the Federal Reserve Act (12 U.S.C. 420)” by substituting “Secretary of the Treasury” for “Comptroller of the Currency” and “Board of Governors of the Federal Reserve System” for “Federal Reserve Board”, was executed by making the substitutions in this section to reflect the probable intent of Congress.
Credits
1913–1994 · 2 acts
- 1913Dec. 23, 1913, ch. 6, § 16 (par.), 38 Stat. 267
- 1994Pub. L. 103–325, title VI, § 602(g)(5), , 108 Stat. 2293.
Show as published
(Dec. 23, 1913, ch. 6, § 16 (par.), 38 Stat. 267; Pub. L. 103–325, title VI, § 602(g)(5), , 108 Stat. 2293.)