
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 12USC143]

 
                       TITLE 12--BANKS AND BANKING
 
                        CHAPTER 2--NATIONAL BANKS
 
            SUBCHAPTER VIII--RESERVE CITIES; LAWFUL RESERVES
 
Sec. 143. Banks in Alaska and insular possessions; lawful money 
        reserves
        
    Every national banking association located in Alaska or in a 
dependency or insular possession or any part of the United States 
outside of the continental United States, and not a member of the 
Federal reserve system, shall at all times have on hand in lawful money 
of the United States an amount equal to at least 15 percent of the 
aggregate amount of its deposits in all respects. Whenever the lawful 
money of any such association shall fall below 15 percent of its 
deposits such association shall not increase its liabilities by making 
any new loans or discounts other than by discounting or purchasing bills 
of exchange payable at sight nor make any dividends of its profits until 
the required proportion between the aggregate amount of its deposits and 
its lawful money of the United States has been restored. And the 
Comptroller of the Currency shall notify any such association whose 
lawful money reserve shall be below the amount required to be kept on 
hand to make good such reserve, and if such association shall fail for 
thirty days thereafter so to make good its lawful money the Comptroller 
may, with the concurrence of the Secretary of the Treasury, appoint a 
receiver to wind up the business of the association as provided in 
section 192 of this title.

(R.S. Sec. 5191.)

                          Codification

    R.S. Sec. 5191 derived from act June 3, 1864, ch. 106, Sec. 31, 13 
Stat. 108, which was the National Bank Act, and act Mar. 1, 1872, ch. 
22, 17 Stat. 32. See section 38 of this title.

                  Exception as to Transfer of Functions

    Functions vested by any provision of law in Comptroller of the 
Currency, referred to in this section, not included in transfer of 
functions to Secretary of the Treasury, see note set out under section 1 
of this title.
