
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: 12USC466]

 
                       TITLE 12--BANKS AND BANKING
 
                    CHAPTER 3--FEDERAL RESERVE SYSTEM
 
                      SUBCHAPTER XIV--BANK RESERVES
 
Sec. 466. Reserves of banks in dependencies or insular 
        possessions
        
    National banks, or banks organized under local laws, located in a 
dependency or insular possession or any part of the United States 
outside the continental United States, may remain nonmember banks, and 
shall in that event maintain reserves and comply with all the conditions 
now provided by law regulating them; or said banks may with the consent 
of the Board of Governors of the Federal Reserve System, become member 
banks of any one of the reserve districts, and shall in that event take 
stock, maintain reserves, and be subject to all the other provisions of 
this chapter.

(Dec. 23, 1913, ch. 6, Sec. 19(h), formerly Sec. 19 (par. 11), 38 Stat. 
270; Aug. 15, 1914, ch. 252, 38 Stat. 692; June 21, 1917, ch. 32, 
Sec. 10, 40 Stat. 240; Aug. 23, 1935, ch. 614, title II, Sec. 203(a), 49 
Stat. 704; Pub. L. 86-70, Sec. 8(b), June 25, 1959, 73 Stat. 142; 
renumbered Sec. 19(h), Pub. L. 89-597, Sec. 2(b), Sept. 21, 1966, 80 
Stat. 824.)

                          Codification

    Section is comprised of subsec. (h), formerly eleventh par., of 
section 19 of act Dec. 23, 1913, as redesignated by Pub. L. 89-597.


                               Amendments

    1959--Pub. L. 86-70 struck out ``in Alaska or'' before ``in a 
dependency''.

                         Change of Name

    Section 203(a) of act Aug. 23, 1935, changed name of Federal Reserve 
Board to Board of Governors of the Federal Reserve System.

                  Section Referred to in Other Sections

    This section is referred to in sections 248, 1424, 1828, 3105 of 
this title.
