US Supreme Court Decisions On-Line | US Laws

§ 4. —  Deputy Comptrollers.

[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
  January 24, 2002 and December 19, 2002]
[CITE: 12USC4]

                       TITLE 12--BANKS AND BANKING
Sec. 4. Deputy Comptrollers

    The Secretary of the Treasury shall appoint no more than four Deputy 
Comptrollers of the Currency, one of whom shall be designated First 
Deputy Comptroller of the Currency, and shall fix their salaries. Each 
Deputy Comptroller shall take the oath of office and shall perform such 
duties as the Comptroller shall direct. During a vacancy in the office 
or during the absence or disability of the Comptroller, each Deputy 
Comptroller shall possess the power and perform the duties attached by 
law to the office of the Comptroller under such order of succession 
following the First Deputy Comptroller as the Comptroller shall direct.

(R.S. Sec. 327; Mar. 4, 1923, ch. 252, Sec. 209(b), 42 Stat. 1467; Pub. 
L. 86-251, Sec. 1(a), Sept. 9, 1959, 73 Stat. 487; Pub. L. 92-310, title 
II, Sec. 223(b), June 6, 1972, 86 Stat. 206.)


    R.S. Sec. 327 derived from act June 3, 1864, ch. 106, Sec. 1, 13 
Stat. 99, which was the National Bank Act. See section 38 of this title.
    R.S. Sec. 327, contained after the word ``Secretary'' the following 
``who shall be entitled to a salary of two thousand five hundred dollars 
a year, and'' which was omitted from this section on authority of act 
Mar. 4, 1923, Sec. 209(b), fourth sentence, which was classified to 
section 9a of this title and regulated the salaries of deputy 


    1972--Pub. L. 92-310 struck out provisions which required each 
Deputy Comptroller to give a bond in the sum of $100,000.
    1959--Pub. L. 86-251 provided for the appointment of four Deputy 
Comptrollers instead of one, the designation of one as the First Deputy, 
the fixing of salaries, increase in surety bond requirement from $50,000 
to $100,000 and order of succession.

                  Exception as to Transfer of Functions

    Functions vested by any provision of law in Comptroller of the 
Currency, referred to in this section, not included in transfer of 
functions to Secretary of the Treasury, see note set out under section 1 
of this title.

                  Section Referred to in Other Sections

    This section is referred to in section 9 of this title.

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