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12 U.S.C. § 616

Place of carrying on business; when business may be begun

Ch. 6 — FOREIGN BANKING
Title 12 U.S.C. ● ACTIVE Primary Source Ch. 6
Statutory Text

12 U.S.C. § 616 — Place of carrying on business; when business may be begun

U.S.C. Title 12 - BANKS AND BANKING 12 U.S.C. United States Code, 2023 Edition Title 12 - BANKS AND BANKING CHAPTER 6 - FOREIGN BANKING SUBCHAPTER II - ORGANIZATION OF CORPORATIONS TO DO FOREIGN BANKING Sec. 616 - Place of carrying on business; when business may be begun From the U.S. Government Publishing Office, www.gpo.gov

§616. Place of carrying on business; when business may be begun

No corporation organized under this subchapter shall carry on any part of its business in the United States except such as, in the judgment of the Board of Governors of the Federal Reserve System, shall be incidental to its international or foreign business: And provided further, That except such as is incidental and preliminary to its organization, no such corporation shall exercise any of the powers conferred by this subchapter until it has been duly authorized by the Board of Governors of the Federal Reserve System to commence business as a corporation organized under the provisions of this subchapter.

(Dec. 23, 1913, ch. 6, §25A (par.), formerly §25(a), as added Dec. 24, 1919, ch. 18, 41 Stat. 378; amended Aug. 23, 1935, ch. 614, title II, §203(a), 49 Stat. 704; renumbered §25A, Pub. L. 102–242, title I, §142(e)(2), Dec. 19, 1991, 105 Stat. 2281.)

Editorial Notes

References in Text This subchapter, referred to in text, was in the original "this section", meaning section 25A of act Dec. 23, 1913, which is classified to this subchapter (§611 et seq.).

Codification Section is comprised of par. 8 (undesignated) of section 25A of act Dec. 23, 1913, which comprises this subchapter. For complete classification of section 25A of this Act, see Codification note set out under section 611 of this title.

Statutory Notes and Related Subsidiaries

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.

Source: uscode.house.gov — public domain Official Source ↗
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12 U.S.C. § 616
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The statutory text of 12 U.S.C. § 616 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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Ch. 6 — FOREIGN BANKING
12 U.S.C. § 60112 U.S.C. § 60212 U.S.C. § 60312 U.S.C. § 60412 U.S.C. § 604a12 U.S.C. § 60512 U.S.C. § 61112 U.S.C. § 611a12 U.S.C. § 61212 U.S.C. § 61312 U.S.C. § 61412 U.S.C. § 61512 U.S.C. § 61612 U.S.C. § 61712 U.S.C. § 61812 U.S.C. § 61912 U.S.C. § 62012 U.S.C. § 62112 U.S.C. § 62212 U.S.C. § 62312 U.S.C. § 62412 U.S.C. § 62512 U.S.C. § 62612 U.S.C. § 62712 U.S.C. § 62812 U.S.C. § 62912 U.S.C. § 63012 U.S.C. § 63112 U.S.C. § 63212 U.S.C. § 633
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