§ 420. — Control and direction of plates and dies; expense of issue and retirement of notes paid by banks.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC420]
TITLE 12--BANKS AND BANKING
CHAPTER 3--FEDERAL RESERVE SYSTEM
SUBCHAPTER XII--FEDERAL RESERVE NOTES
Sec. 420. Control and direction of plates and dies; expense of
issue and retirement of notes paid by banks
The plates and dies to be procured by the Secretary of the Treasury
for the printing of such circulating notes shall remain under his
control and direction, and the expenses necessarily incurred in
executing the laws relating to the procuring of such notes, and all
other expenses incidental to their issue and retirement, shall be paid
by the Federal reserve banks, and the Board of Governors of the Federal
Reserve System shall include in its estimate of expenses levied against
the Federal reserve banks a sufficient amount to cover the expenses
herein provided for.
(Dec. 23, 1913, ch. 6, Sec. 16 (par.), 38 Stat. 267; Pub. L. 103-325,
title VI, Sec. 602(g)(5), Sept. 23, 1994, 108 Stat. 2293.)
References in Text
Phrase ``herein provided for'', referred to in text, probably means
as provided for in section 16 of act Dec. 23, 1913. For classification
to this title of section 16, see Codification note set out under section
411 of this title.
Codification
Section is comprised of tenth par. of section 16 of act Dec. 23,
1913. For classification to this title of other pars. of section 16, see
Codification note set out under section 411 of this title.
Amendments
1994--Pub. L. 103-325 substituted ``Secretary of the Treasury'' for
``Comptroller of the Currency'' and ``Board of Governors of the Federal
Reserve System'' for ``Federal Reserve Board''.
Section Referred to in Other Sections
This section is referred to in sections 348, 421, 467 of this title.
