2017 US Code
Title 12 - Banks and Banking
Chapter 3 - Federal Reserve System
Subchapter VIII - State Banks as Members of System
Sec. 332 - Depositaries of public money; financial agents; security required
| 12 U.S.C. § 332 (2017) |
| §332. Depositaries of public money; financial agents; security required |
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All banks or trust companies incorporated by special law or organized under the general laws of any State, which are members of the Federal reserve system, when designated for that purpose by the Secretary of the Treasury, shall be depositaries of public money, under such regulations as may be prescribed by the Secretary; and they may also be employed as financial agents of the Government; and they shall perform all such reasonable duties, as depositaries of public money and financial agents of the Government, as may be required of them. The Secretary of the Treasury shall require of the banks and trust companies thus designated satisfactory security, by the deposit of United States bonds or otherwise, for the safe keeping and prompt payment of the public money deposited with them and for the faithful performance of their duties as financial agents of the Government. |
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(Dec. 23, 1913, ch. 6, §9 (par.), as added May 7, 1928, ch. 507, 45 Stat. 492.) |
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CODIFICATION
Section is comprised of the fifteenth par. of section 9 of act Dec. 23, 1913, as amended. The fifteenth par. constituted the thirteenth par. of section 9 in 1928 (45 Stat. 492), became the fourteenth par. in 1935 (49 Stat. 704), and became the fifteenth par. in 1950 (64 Stat. 458). For further details, see Codification notes set out under sections 321 and 329a of this title. |
| United States Code, 2012 Edition, Supplement 5, Title 12 - BANKS AND BANKING |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 12 - BANKS AND BANKING CHAPTER 3 - FEDERAL RESERVE SYSTEM SUBCHAPTER VIII - STATE BANKS AS MEMBERS OF SYSTEM Sec. 332 - Depositaries of public money; financial agents; security required |
| section 332 |
| 2017 |
| January 12, 2018 |
| No |
| standard |
| 45 Stat. 492 49 Stat. 704 64 Stat. 458 |
