2017 US Code
Title 12 - Banks and Banking
Chapter 3 - Federal Reserve System
Subchapter XI - Depositaries and Fiscal Agents
Sec. 392 - Depositaries of Government funds as confined to banks in Federal reserve system; member banks as depositaries
| 12 U.S.C. § 392 (2017) |
| §392. Depositaries of Government funds as confined to banks in Federal reserve system; member banks as depositaries |
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No public funds of the postal savings, or any Government funds, shall be deposited in the continental United States in any bank not belonging to the system established by this chapter: Provided, however, That nothing in this chapter shall be construed to deny the right of the Secretary of the Treasury to use member banks as depositaries. |
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(Dec. 23, 1913, ch. 6, §15 (par.), 38 Stat. 265; Proc. No. 2695, eff. July 4, 1946, 11 F.R. 7517, 60 Stat. 1352.) |
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REFERENCES IN TEXT
This chapter, referred to in text, was in the original "this Act", meaning act Dec. 23, 1913, ch. 6, 38 Stat. 251, known as the Federal Reserve Act. For complete classification of this Act to the Code, see References in Text note set out under section 226 of this title and Tables. CODIFICATIONWords "of the Philippine Islands, or" after "No public funds" were deleted on authority of 1946 Proc. No. 2695, which granted independence to the Philippine Islands pursuant to section 1394 of Title 22. Proc. No. 2695 is set out as a note under section 1394 of Title 22, Foreign Relations and Intercourse. Section is comprised of second par. of section 15 of act Dec. 23, 1913. Par. 1 of section 15 and par. 3 of section 15, as added Mar. 4, 1923, ch. 252, title IV, §406, 42 Stat. 1480, are classified to sections 391 and 393, respectively, 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 XI - DEPOSITARIES AND FISCAL AGENTS Sec. 392 - Depositaries of Government funds as confined to banks in Federal reserve system; member banks as depositaries |
| section 392 |
| 2017 |
| January 12, 2018 |
| No |
| standard |
| 38 Stat. 265, 251 42 Stat. 1480 60 Stat. 1352 |
