§ 19. [Federal Reserve Act; amendment.]

161 words·~1 min read·/usc/title-48/section-19

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

The first paragraph of section 2 of the Federal Reserve Act ( 38 Stat. 251 ) is amended by striking out the last sentence thereof and inserting in lieu of such sentence the following: ‘When the State of Alaska is hereafter admitted to the Union the Federal Reserve districts shall be readjusted by the Board of Governors of the Federal Reserve System in such manner as to include such State. Every national bank in any State shall, upon commencing business or within ninety days after admission into the Union of the State in which it is located, become a member bank of the Federal Reserve System by subscribing and paying for stock in the Federal Reserve bank of its district in accordance with the provisions of this Act and shall thereupon be an insured bank under the Federal Deposit Insurance Act, and failure to do so shall subject such bank to the penalty provided by the sixth paragraph of this section.’

Connectionstraces to 1

Traces to 1 document

statutes-at-large

to increase the limit of cost of certain public buildings, to authorize the enlargement, extension, remodeling, or improvement of certain public buildings, to authorize the erection and completion of public buildings, to authorize the purchase of sites for public buildings, and for other purposes,”
Chapter 5

Citation graph

cites case law

§ 19

[Federal Reserve Act; amendment.]

Stat.Chapter 5

Cites 1Cited by 0 across 0 sources