
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: 12USC284]

 
                       TITLE 12--BANKS AND BANKING
 
                    CHAPTER 3--FEDERAL RESERVE SYSTEM
 
SUBCHAPTER VI--CAPITAL AND STOCK OF FEDERAL RESERVE BANKS; DIVIDENDS AND 
                                EARNINGS
 
Sec. 284. Omitted


                          Codification

    Section, act Dec. 23, 1913, ch. 6, Sec. 2, 38 Stat. 251, was omitted 
as obsolete pursuant to a communication from the Board of Governors of 
the Federal Reserve System dated Mar. 7, 1941, which stated ``As 
originally enacted the Federal Reserve Act provided for a Reserve Bank 
Organization Committee to have charge of the initial steps in organizing 
the Federal Reserve System and this Committee was authorized to allot 
Federal Reserve Bank stock to the United States in the event that 
subscriptions to such stock by banks and by the public were inadequate. 
However, subscriptions by member banks were adequate and there was no 
necessity or authority for the allocation of any stock to the United 
States. Accordingly, [this section] is now of no practical effect, and 
may be regarded as obsolete.''
