§ 484. Limitation on visitorial powers

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. undated

   R.S. § 5240 (par.)

   Enacted · 12 U.S.C. § 484

   R.S. § 5240 (par.)

   Unresolved: No Public Law or Statutes at Large citation in the Code source.

   Source evidence

   Code source credit
   R.S. § 5240 (par.)

2. 1982

   Garn-St Germain Depository Institutions Act of 1982

   Pub. L. 97–320 title IV § 412 · 96 Stat. 1469

   1. Amended · 12 U.S.C. § 484(a)

      Pub. L. 97–320, as amended by Pub. L. 97–457

   2. Amended · 12 U.S.C. § 484(a)

      Pub. L. 97–320, as designated existing provisions as subsec. (a)

   3. Amended · 12 U.S.C. § 484(a)

      Pub. L. 97–320, as amended subsec. (a) generally. Prior to amendment subsec. (a) read as follows: “No bank shall be subject to any visitorial powers other than such as are authorized by law, or vested in the courts of justice or such as shall be or shall have been exercised or directed by Congress, or by either House thereof or by any committee of Congress or of either House duly authorized”

   Source evidence

   Code amendment note
   Subsec. (a). Pub. L. 97–320, as amended by Pub. L. 97–457, designated existing provisions as subsec. (a), and amended subsec. (a) generally. Prior to amendment subsec. (a) read as follows: “No bank shall be subject to any visitorial powers other than such as are authorized by law, or vested in the courts of justice or such as shall be or shall have been exercised or directed by Congress, or by either House thereof or by any committee of Congress or of either House duly authorized”.

   Enacted provision · exact public law section
   Sec. 412. visitorial powers Section 5240 of the Revised Statutes (12 U.S.C. 484) is amended to read as follows: “Sec. 5240. (a) No national bank shall be subject to any visitorial powers except as authorized by Federal law, vested in the courts of justice or such as shall be, or have been exercised or directed by Congress or by either House thereof or by any committee of Congress or of either House duly authorized. “(b) Notwithstanding subsection (a), lawfully authorized State auditors and examiners may, at reasonable times and upon reasonable notice to a bank, review its records solely to ensure compliance with applicable State unclaimed property or escheat laws upon reasonable cause to believe that the bank has failed to comply with such laws.”.

   Effective date note
   Pub. L. 97–457, § 23(b), Jan. 12, 1983, 96 Stat. 2510, provided that: “The amendment made by subsection (a) [amending section 412 of Pub. L. 97–320, which amended this section] shall be deemed to have taken effect upon the enactment of Public Law 97–320 [Oct. 15, 1982].”

3. 1982

   Garn-St Germain Depository Institutions Act of 1982

   Pub. L. 97–320 title IV § 412 · 96 Stat. 1469

   1. Amended · 12 U.S.C. § 484(b)

      Pub. L. 97–320, as amended by Pub. L. 97–457

   2. Added · 12 U.S.C. § 484(b)

      Pub. L. 97–320, as added subsec. (b)

   Source evidence

   Code amendment note
   Subsec. (b). Pub. L. 97–320, as amended by Pub. L. 97–457, added subsec. (b).

   Enacted provision · exact public law section
   Sec. 412. visitorial powers Section 5240 of the Revised Statutes (12 U.S.C. 484) is amended to read as follows: “Sec. 5240. (a) No national bank shall be subject to any visitorial powers except as authorized by Federal law, vested in the courts of justice or such as shall be, or have been exercised or directed by Congress or by either House thereof or by any committee of Congress or of either House duly authorized. “(b) Notwithstanding subsection (a), lawfully authorized State auditors and examiners may, at reasonable times and upon reasonable notice to a bank, review its records solely to ensure compliance with applicable State unclaimed property or escheat laws upon reasonable cause to believe that the bank has failed to comply with such laws.”.

   Effective date note
   Pub. L. 97–457, § 23(b), Jan. 12, 1983, 96 Stat. 2510, provided that: “The amendment made by subsection (a) [amending section 412 of Pub. L. 97–320, which amended this section] shall be deemed to have taken effect upon the enactment of Public Law 97–320 [Oct. 15, 1982].”

5 of 6 references resolved to an enrolled provision · 1 unresolved