§ 413. Distinctive letter and serial number of notes; cancellation of notes unfit for circulation; accounting; apportionment of credit among Federal Reserve banks

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Federal Reserve notes shall bear upon their faces a distinctive letter and serial number which shall be assigned by the Board of Governors of the Federal Reserve System to each Federal Reserve bank. Federal Reserve notes unfit for circulation shall be canceled, destroyed, and accounted for under procedures prescribed and at locations designated by the Secretary of the Treasury. Upon destruction of such notes, credit with respect thereto shall be apportioned among the twelve Federal Reserve banks as determined by the Board of Governors of the Federal Reserve System.

(Dec. 23, 1913, ch. 6, § 16 (par.), 38 Stat. 266; June 21, 1917, ch. 32, § 7, 40 Stat. 236; Jan. 30, 1934, ch. 6, § 2(b)(3), (4), 48 Stat. 338; Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704; June 12, 1945, ch. 186, § 1(a), 59 Stat. 237; July 19, 1954, ch. 547, 68 Stat. 495; Pub. L. 89–3, § 1, Mar. 3, 1965, 79 Stat. 5; Pub. L. 89–427, § 3, May 20, 1966, 80 Stat. 161; Pub. L. 90–269, § 3, Mar. 18, 1968, 82 Stat. 50.)

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statutes-at-large

U.S. Code

§ 414
Authority of Board of Governors respecting issuance of notes; interest; lien

statute-compilations

Sec. 16
note issues

bill

Traces to 1 document

U.S. Code

Issuance to reserve banks; nature of obligation; redemption
§ 411

21 references not yet in our index

Dec. 23, 1913, ch. 6, § 16
38 Stat. 266
June 21, 1917, ch. 32, § 7
40 Stat. 236
Jan. 30, 1934, ch. 6, § 2(b)(3)
48 Stat. 338
Aug. 23, 1935, ch. 614
49 Stat. 704
June 12, 1945, ch. 186, § 1(a)
59 Stat. 237
July 19, 1954, ch. 547
68 Stat. 495
Pub. L. 89–3, § 1
79 Stat. 5
Pub. L. 89–427, § 3
80 Stat. 161
Pub. L. 90–269, § 3
82 Stat. 50
Pub. L. 90–269
Pub. L. 89–427
Pub. L. 89–3

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§ 413

Distinctive letter and serial number of notes; cancellation of notes unfit for circulation; accounting; apportionment of credit among Federal Reserve banks

Stat.×4

Fed. Reg.×3

U.S.C.×3

Bills×2

Stat. Comp.×1

U.S.C.§ 411

ActDec. 23, 1913, ch. 6, § 16

Stat.38 Stat. 266

ActJune 21, 1917, ch. 32, § 7

Stat.40 Stat. 236

ActJan. 30, 1934, ch. 6, § 2(b)(3)

Cites 22 · showing 6Cited by 13 across 5 sources