
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: 12USC1846]

 
                       TITLE 12--BANKS AND BANKING
 
                   CHAPTER 17--BANK HOLDING COMPANIES
 
Sec. 1846. Reservation of rights to States


(a) In general

    No provision of this chapter shall be construed as preventing any 
State from exercising such powers and jurisdiction which it now has or 
may hereafter have with respect to companies, banks, bank holding 
companies, and subsidiaries thereof.

(b) State taxation authority not affected

    No provision of this chapter shall be construed as affecting the 
authority of any State or political subdivision of any State to adopt, 
apply, or administer any tax or method of taxation to any bank, bank 
holding company, or foreign bank, or any affiliate of any bank, bank 
holding company, or foreign bank, to the extent that such tax or tax 
method is otherwise permissible by or under the Constitution of the 
United States or other Federal law.

(May 9, 1956, ch. 240, Sec. 7, 70 Stat. 138; Pub. L. 100-86, title I, 
Sec. 101(f), Aug. 10, 1987, 101 Stat. 563; Pub. L. 103-328, title I, 
Sec. 101(b), Sept. 29, 1994, 108 Stat. 2341.)


                               Amendments

    1994--Pub. L. 103-328 designated existing provisions as subsec. (a), 
inserted heading, and added subsec. (b).
    1987--Pub. L. 100-86 substituted ``No provision of this chapter 
shall'' for ``The enactment by the Congress of this chapter shall not'' 
and inserted ``companies,'' before ``banks,''.


                    Effective Date of 1994 Amendment

    Amendment by Pub. L. 103-328 effective at end of 1-year period 
beginning on Sept. 29, 1994, see section 101(e) of Pub. L. 103-328, set 
out as a note under section 1828 of this title.
