§ 4305. Distribution of schedules

Footnotes

1. 1 So in original. Probably should be followed by “and”.

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. 1991

   Truth in Savings Act

   Pub. L. 102–242 title II § 266 · 105 Stat. 2236

   Enacted · 12 U.S.C. § 4305

   Pub. L. 102–242, title II, § 266, Dec. 19, 1991, 105 Stat. 2337

   Source evidence

   Code source credit
   Pub. L. 102–242, title II, § 266, Dec. 19, 1991, 105 Stat. 2337

   Enacted provision · exact public law section
   SEC. 266. DISTRIBUTION OF SCHEDULES. (a) In General.— A schedule required under section 264 for an appropriate account shall be— (1) made available to any person upon request; (2) provided to any potential customer before an account is opened or a service is rendered; and (3) provided to the depositor, in the case of any time deposit which is renewable at maturity without notice from the depositor, at least 30 days before the date of maturity. (b) Distribution in Case of Certain Initial Deposits.— If— (1) a depositor is not physically present at an office of a depository institution at the time an initial deposit is accepted with respect to an account established by or for such person; and (2) the schedule required under section 264(a) has not been furnished previously to such depositor, the depository institution shall mail the schedule to the depositor at the address shown on the records of the depository institution for such account no later than 10 days after the date of the initial deposit. (c) Distribution of Notice of Certain Changes.— If— (1) any change is made in any term or condition which is required to be disclosed in the schedule required under section 264(a) with respect to any account; and (2) the change may reduce the yield or adversely affect any holder of the account, all account holders who may be affected by such change shall be notified and provided with a description of the change by mail at least 30 days before the change takes effect. (d) Distribution in Case of Accounts Established by More Than 1 Individual or by a Group.— If an account is established by more than 1 individual or for a person other than an individual, any distribution described in this section with respect to such account meets the requirements of this section if the distribution is made to 1 of the individuals who established the account or 1 individual representative of the person on whose behalf such account was established. (e) Notice to Account Holders as of the Effective Date of Regulations.— For any account for which the depository institution delivers an account statement on a quarterly or more frequent basis, the depository institution shall include on or with any regularly scheduled mailing posted or delivered within 180 days after publication of regulations issued by the Board in final form, a statement that the account holder has the right to request an account schedule containing the terms, charges, and interest rates of the account, and that the account holder may wish to request such an account schedule.

2. 1992

   Housing and Community Development Act of 1992

   Pub. L. 102–550 title XVI § 1604(e)(1) · 106 Stat. 3672

   Substituted · 12 U.S.C. § 4305(e)

   Pub. L. 102–550 substituted “on or with the first regularly scheduled mailing sent after the end of the 6-month period beginning on the date of publication” for “on or with any regularly scheduled mailing posted or delivered within 180 days after publication”

   Source evidence

   Code amendment note
   Subsec. (e). Pub. L. 102–550 substituted “on or with the first regularly scheduled mailing sent after the end of the 6-month period beginning on the date of publication” for “on or with any regularly scheduled mailing posted or delivered within 180 days after publication”.

   Enacted provision · exact public law section
   (1) Section 266(e) of the Federal Deposit Insurance 12 USC 4305. Corporation Improvement Act of 1991 is amended by striking “on or with any regularly scheduled mailing posted or delivered within 180 days after publication” and inserting “on or with the first regularly scheduled mailing sent after the end of the 6-month period beginning on the date of publication”.

3. 1996

   Department of Commerce and Related Agencies Appropriations Act, 1997

   Pub. L. 104–208 div. A title II § 2604(d) · 110 Stat. 3009

   Inserted · 12 U.S.C. § 4305(a)(3)

   Pub. L. 104–208 inserted “has a maturity of more than 30 days” after “deposit which”

   Source evidence

   Code amendment note
   Subsec. (a)(3). Pub. L. 104–208 inserted “has a maturity of more than 30 days” after “deposit which”.

   Enacted provision · exact public law section
   (d) Time Deposits.— Section 266(a)(3) of the Truth in Savings Act (12 U.S.C. 4305(a)(3)) is amended by inserting “has a maturity of more than 30 days” after “deposit which”.

4. 2010

   Consumer Financial Protection Act of 2010

   Pub. L. 111–203 title X § 1100B(1) · 124 Stat. 1376

   Substituted · 12 U.S.C. § 4305(e)

   Pub. L. 111–203 substituted “Bureau” for “Board”

   Source evidence

   Code amendment note
   Subsec. (e). Pub. L. 111–203 substituted “Bureau” for “Board”.

   Enacted provision · exact public law section
   (1) by 12 USC 4302 et seq. striking “Board” each place that term appears, other than in section 272(b) (12 U.S.C. 4311), and inserting “Bureau”;

   Effective date note
   Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.

4 of 4 references resolved to an enrolled provision