§ 633. Potential liability on foreign accounts

237 words·~1 min read·/usc/title-12/section-633

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(a)Exceptions from repayment requirement A member bank shall not be required to repay any deposit made at a foreign branch of the bank if the branch cannot repay the deposit due to—

(1)an act of war, insurrection, or civil strife; or

(2)an action by a foreign government or instrumentality (whether de jure or de facto) in the country in which the branch is located;

unless the member bank has expressly agreed in writing to repay the deposit under those circumstances.

(b)Regulations The Board and the Comptroller of the Currency may jointly prescribe such regulations as they deem necessary to implement this section.

(Dec. 23, 1913, ch. 6, § 25C, as added Pub. L. 103–325, title III, § 326(a), Sept. 23, 1994, 108 Stat. 2229.)

Connections5 cite this

Cited by 5 sections

U.S. Code

§ 1828
Regulations governing insured depository institutions

statute-compilations

Sec. 25C
POTENTIAL LIABILITY ON FOREIGN ACCOUNTS

bill

Sec. 3
Ban conflicted trades

4 references not yet in our index

Dec. 23, 1913, ch. 6, § 25C
Pub. L. 103–325, title III, § 326(a)
108 Stat. 2229
Pub. L. 103–325, title III, § 326(c)

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cites case law

§ 633

Potential liability on foreign accounts

Fed. Reg.×2

Bills×1

Stat. Comp.×1

U.S.C.×1

ActDec. 23, 1913, ch. 6, § 25C

Pub. L.Pub. L. 103–325, title III, § 326(a)

Stat.108 Stat. 2229

Pub. L.Pub. L. 103–325, title III, § 326(c)

Cites 4Cited by 5 across 4 sources