2020 US Code
Title 12 - Banks and Banking
Chapter 1 - The Comptroller of the Currency
Sec. 2 - Comptroller of the Currency; appointment; term
| 12 U.S.C. § 2 (2020) |
| §2. Comptroller of the Currency; appointment; term |
|
The Comptroller of the Currency shall be appointed by the President, by and with the advice and consent of the Senate, and shall hold his office for a term of five years unless sooner removed by the President, upon reasons to be communicated by him to the Senate. |
|
(R.S. §325; Aug. 23, 1935, ch. 614, title II, §209, 49 Stat. 707.) |
| EDITORIAL NOTES
CODIFICATION
R.S. §325 derived from act June 3, 1864, ch. 106, §1, 13 Stat. 99, which was the National Bank Act. See section 38 of this title. Provisions of this section which prescribed the annual basic compensation of the Comptroller of the Currency were omitted to conform to the provisions of the Executive Schedule. See section 5314 of Title 5, Government Organization and Employees. AMENDMENTS1935—Act Aug. 23, 1935, struck out "on the recommendation of the Secretary of the Treasury" after "President", where first appearing, and changed the salary from "$5,000 a year" to "$15,000 a year". STATUTORY NOTES AND RELATED SUBSIDIARIES REPEALS Act Oct. 15, 1949, ch. 695, §4, 63 Stat. 880, formerly cited as a credit to this section, was repealed by Pub. L. 89–554, §8(a), Sept. 6, 1966, 80 Stat. 655. EXCEPTION AS TO TRANSFER OF FUNCTIONSFunctions vested by any provision of law in Comptroller of the Currency, referred to in this section, were not included in transfer of functions to Secretary of the Treasury, see note set out under section 1 of this title. |
| United States Code, 2018 Edition, Supplement 2, Title 12 - BANKS AND BANKING |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 12 - BANKS AND BANKING CHAPTER 1 - THE COMPTROLLER OF THE CURRENCY Sec. 2 - Comptroller of the Currency; appointment; term |
| section 2 |
| 2020 |
| January 13, 2021 |
| No |
| standard |
| 13 Stat. 99 49 Stat. 707 63 Stat. 880 80 Stat. 655 |
| Public Law 89-554 |
