§ 335. — Dealing in investment securities; limitations and conditions.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC335]
TITLE 12--BANKS AND BANKING
CHAPTER 3--FEDERAL RESERVE SYSTEM
SUBCHAPTER VIII--STATE BANKS AS MEMBERS OF SYSTEM
Sec. 335. Dealing in investment securities; limitations and
conditions
State member banks shall be subject to the same limitations and
conditions with respect to the purchasing, selling, underwriting, and
holding of investment securities and stock as are applicable in the case
of national banks under paragraph ``Seventh'' of section 24 of this
title. This section shall not apply to any interest held by a State
member bank in accordance with section 24a of this title and subject to
the same conditions and limitations provided in such section.
(Dec. 23, 1913, ch. 6, Sec. 9 (par.), as added June 16, 1933, ch. 89,
Sec. 5(c), 48 Stat. 165; amended Pub. L. 106-102, title I,
Sec. 121(d)(2), Nov. 12, 1999, 113 Stat. 1381.)
Codification
Section is comprised of the twentieth par. of section 9 of act Dec.
23, 1913, as amended. The twentieth par. constituted the eighteenth par.
of section 9 in 1933 (48 Stat. 16), became the nineteenth par. in 1935
(49 Stat. 704), and became the twentieth par. in 1950 (64 Stat. 458).
For further details, see Codification notes set out under sections 321
and 329a of this title.
Amendments
1999--Pub. L. 106-102 inserted at end ``This section shall not apply
to any interest held by a State member bank in accordance with section
24a of this title and subject to the same conditions and limitations
provided in such section.''
Effective Date of 1999 Amendment
Amendment by Pub. L. 106-102 effective 120 days after Nov. 12, 1999,
see section 161 of Pub. L. 106-102, set out as a note under section 24
of this title.
Section Referred to in Other Sections
This section is referred to in sections 1831w, 3105 of this title.
