§ 1832. Withdrawals by negotiable or transferable instruments for transfers to third parties
647 words·~3 min read·
/usc/title-12/section-1832A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Authority of depository institution; applicability
(1)Notwithstanding any other provision of law but subject to paragraph (2), a depository institution is authorized to permit the owner of a deposit or account on which interest or dividends are paid to make withdrawals by negotiable or transferable instruments for the purpose of making transfers to third parties.
(2)Paragraph
(1)shall apply only with respect to deposits or accounts which consist solely of funds in which the entire beneficial interest is held by one or more individuals or by an organization which is operated primarily for religious, philanthropic, charitable, educational, political, or other similar purposes and which is not operated for profit, and with respect to deposits of public funds by an officer, employee, or agent of the United States, any State, county, municipality, or political subdivision thereof, the District of Columbia, the Commonwealth of Puerto Rico, American Samoa, Guam, any territory or possession of the United States, or any political subdivision thereof.
(b)“Depository institution” defined For purposes of this section, the term “depository institution” means—
(1)any insured bank as defined in section 1813 of this title;
(2)any State bank as defined in section 1813 of this title;
(3)any mutual savings bank as defined in section 1813 of this title;
(4)any savings bank as defined in section 1813 of this title;
(5)any insured institution as defined in section 1724 1 of this title; and
(6)any building and loan association or savings and loan association organized and operated according to the laws of the State in which it is chartered or organized; and, for purposes of this paragraph, the term “State” means any State of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands.
(c)Fine Any depository institution which violates this section shall be fined $1,000 for each violation.
(Pub. L. 93–100, § 2, Aug. 16, 1973, 87 Stat. 342; Pub. L. 94–222, § 2, Feb. 27, 1976, 90 Stat. 197; Pub. L. 95–630, title XIII, § 1301, Nov. 10, 1978, 92 Stat. 3712; Pub. L. 96–161, title I, § 106, Dec. 28, 1979, 93 Stat. 1235; Pub. L. 96–221, title III, § 303, Mar. 31, 1980, 94 Stat. 146; Pub. L. 97–320, title VII, § 706(a), Oct. 15, 1982, 96 Stat. 1540; Pub. L. 100–86, title I, § 109, Aug. 10, 1987, 101 Stat. 579.)
Connections88 cite this · traces to 3
Cited by 88 sections · top 56
U.S. Code
CFR
register
- Rules and RegulationsFinal rule
- UnknownNotification of monetary penalties 2022
- NoticesFEDERAL RESERVE SYSTEM
- Rules and RegulationsNotification of monetary penalties 2021
- Rules and RegulationsInterim final rule and request for comment
- Rules and RegulationsFinal rule
- UnknownInterim final rule, request for public comment
- Rules and RegulationsFinal rule
- Rules and RegulationsNotification of monetary penalties 2025
- NoticesNotice of monetary penalties 2024
- Proposed RulesFinal rule
- UnknownFinal rule
- NoticesNotification of monetary penalties 2024
- Rules and RegulationsFinal rule
- Rules and RegulationsFinal rule
- Rules and RegulationsNotification of monetary penalties 2020
- NoticesNotice of monetary penalties 2022
- Rules and RegulationsFinal rule
- UnknownFinal rule
- NoticesInterim final rule with request for comment
- Rules and RegulationsFinal rule
- Rules and RegulationsFinal rule
- Rules and RegulationsFinal rule
- Rules and RegulationsInterim final rule
- NoticesNotice of monetary penalties 2020
- NoticesNotice of Monetary Penalties 2018
- Rules and RegulationsFinal rule
- NoticesNotice of monetary penalties 2023
- NoticesNotice of Monetary Penalties 2021
- Rules and RegulationsFinal rule
- Proposed RulesNotice of proposed rulemaking with request for public comment
- NoticesNotice of Monetary Penalties 2019
- NoticesFinal rule
- Rules and RegulationsFinal rule
- UnknownNotification of Monetary Penalties 2023
- UnknownFinal rule; correction
- Proposed RulesNotice of proposed rulemaking and request for comments
- NoticesInterim rule with request for comments
- Rules and RegulationsFinal rule
- NoticesNotification of Monetary Penalties 2019
- UnknownFinal rule
- Rules and RegulationsInterim final rule and request for comment
- UnknownFinal rule
- Rules and RegulationsFinal rule
- UnknownFinal rule
- UnknownFinal rule
statutes-at-large
- Public Law 95–630To extend the authority for the flexible regulation of Interest rates on deposits and accounts in depository institutions
- Public Law 94–222To extend the State Taxation of Depositories Act
- Public Law 97–320To revitalize the housing industry by strengthening the financial stability of home mortgage lending institutions and ensuring the availability of home mortgage loans
- Public Law 96–221To facilitate the implementation of monetary policy, to provide for the gradual elimination of all limitations on the rates of interest which are payable on deposits and accounts, and to authorize interest-bearing transaction accounts, and for other purposes
- Public Law 100–86To regulate nonbank banks, impose a moratorium on certain securities and insurance activities by banks, recapitalize the Federal Savings and Loan Insurance Corporation, allow emergency interstate bank acquisitions, streamline credit union operations, regulate consumer checkholds, and for other purpo
- Public Law 96–161To authorize automatic transfer accounts at commercial banks, remote service units at Federal savings and loan associations, and share draft accounts at Federal credit unions during the period beginning on December 31, 1979, and ending on April 1, 1980
Traces to 3 documents
27 references not yet in our index
- 1
- Pub. L. 93–100, § 2
- 87 Stat. 342
- Pub. L. 94–222, § 2
- 90 Stat. 197
- Pub. L. 95–630, title XIII, § 1301
- 92 Stat. 3712
- Pub. L. 96–161, title I, § 106
- 93 Stat. 1235
- Pub. L. 96–221, title III, § 303
- 94 Stat. 146
- Pub. L. 97–320, title VII, § 706(a)
- 96 Stat. 1540
- Pub. L. 100–86, title I, § 109
- 101 Stat. 579
- Section 1724 of this title
- Pub. L. 101–73, title IV, § 407
- 103 Stat. 363
- Pub. L. 100–86
- Pub. L. 97–320
- Pub. L. 96–221
- Pub. L. 96–161
- Pub. L. 95–630
- Pub. L. 94–222
- section 306 of Pub. L. 96–221
- Pub. L. 95–630, title XIII, § 1302
- section 8 of Pub. L. 93–100
Citation graph
cites case law
§ 1832
Withdrawals by negotiable or transferable instruments for transfers to third parties
Fed. Reg.×75
Stat.×7
C.F.R.×5
U.S.C.×1
Cite1
Pub. L.Pub. L. 93–100, § 2
Stat.87 Stat. 342
Pub. L.Pub. L. 94–222, § 2
Stat.90 Stat. 197
Cites 30 · showing 8Cited by 88 across 4 sources