§ 306. — Assistants to Federal reserve agent.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC306]
TITLE 12--BANKS AND BANKING
CHAPTER 3--FEDERAL RESERVE SYSTEM
SUBCHAPTER VII--DIRECTORS OF FEDERAL RESERVE BANKS; RESERVE AGENTS AND
ASSISTANTS
Sec. 306. Assistants to Federal reserve agent
Subject to the approval of the Board of Governors of the Federal
Reserve System, the Federal reserve agent shall appoint one or more
assistants. Such assistants, who shall be persons of tested banking
experience, shall assist the Federal reserve agent in the performance of
his duties and shall also have power to act in his name and stead during
his absence or disability. The Board of Governors of the Federal Reserve
System shall require such bonds of the assistant Federal reserve agents
as it may deem necessary for the protection of the United States.
Assistants to the Federal reserve agent shall receive an annual
compensation, to be fixed and paid in the same manner as that of the
Federal reserve agent.
(Dec. 23, 1913, ch. 6, Sec. 4 (par.), as added June 21, 1917, ch. 32,
Sec. 2, 40 Stat. 232; amended Aug. 23, 1935, ch. 614, title II,
Sec. 203(a), 49 Stat. 704.)
Codification
Section is comprised of par. 23 of section 4 of act Dec. 23, 1913,
as added June 21, 1917. For classification to this title of other pars.
of section 4, see Codification note set out under section 301 of this
title.
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.
Section Referred to in Other Sections
This section is referred to in section 442 of this title.
