
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: 12USC604]

 
                       TITLE 12--BANKS AND BANKING
 
                       CHAPTER 6--FOREIGN BANKING
 
 SUBCHAPTER I--ESTABLISHMENT BY NATIONAL BANKS OF FOREIGN BRANCHES AND 
               INVESTMENTS IN BANKS DOING FOREIGN BUSINESS
 
Sec. 604. Accounts of foreign branches; profit and loss

    Every national banking association operating foreign branches shall 
conduct the accounts of each foreign branch independently of the 
accounts of other foreign branches established by it and of its home 
office, and shall at the end of each fiscal period transfer to its 
general ledger the profit or loss accrued at each branch as a separate 
item.

(Dec. 23, 1913, ch. 6, Sec. 25 (par.), 38 Stat. 273; Sept. 7, 1916, ch. 
461, 39 Stat. 756.)

                          Codification

    Section is comprised of a part of section 25 of act Dec. 23, 1913, 
as amended, which comprises this subchapter.
    The words ``national banking association operating foreign 
branches'' were in the original ``such banking association''.


                               Amendments

    1916--Act Sept. 7, 1916, substituted ``accrued'' for ``accruing''.
