Notes on 12 U.S.C. § 1 : US Code - Notes

Search Notes on 12 U.S.C. § 1 : US Code - Notes

(R.S. Sec. 324; Dec. 23, 1913, ch. 6, Sec. 10, 38 Stat. 261; June
3, 1922, ch. 205, 42 Stat. 621; Aug. 23, 1935, ch. 614, title II,
Sec. 203(a), 49 Stat. 704; Pub. L. 89-427, Sec. 1, May 20, 1966, 80
Stat. 161; Pub. L. 103-325, title III, Sec. 331(b)(2), Sept. 23,
1994, 108 Stat. 2232.)
REFERENCES IN TEXT
The bureau, referred to in text, is known as the Office of the
Comptroller of the Currency.
CODIFICATION
R.S. Sec. 324 derived from act June 3, 1864, ch. 106, Sec. 1, 13
Stat. 99, which was the National Bank Act. See section 38 of this
title.
Section is comprised of R.S. Sec. 324, as amended by the eighth
paragraph of act Dec. 23, 1913, Sec. 10.
AMENDMENTS
1994 - Pub. L. 103-325 inserted at end "The Comptroller of the
Currency shall have the same authority over matters within the
jurisdiction of the Comptroller as the Director of the Office of
Thrift Supervision has over matters within the Director's
jurisdiction under section 1462a(b)(3) of this title. The Secretary
of the Treasury may not delay or prevent the issuance of any rule
or the promulgation of any regulation by the Comptroller of the
Currency."
1966 - Pub. L. 89-427 inserted exception relating to cancellation
and destruction, and accounting with respect to the cancellation
and destruction, of Federal Reserve notes unfit for circulation.
CHANGE OF NAME
Section 203(a) of act Aug. 23, 1935, changed name of Federal
Reserve Board to Board of Governors of the Federal Reserve System.
EXCEPTION AS TO TRANSFER OF FUNCTIONS
Functions vested by any provision of law in Comptroller of the
Currency, referred to in this section, were not included in
transfer of functions of officers, agencies, and employees of
Department of the Treasury to Secretary of the Treasury, made by
Reorg. Plan No. 26 of 1950, Sec. 1, eff. July 31, 1950, 15 F.R.
4935, 64 Stat. 1280. See section 321(c)(2) of Title 31, Money and
Finance.