§ 441 to 448. — Omitted.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC441]
TITLE 12--BANKS AND BANKING
CHAPTER 3--FEDERAL RESERVE SYSTEM
SUBCHAPTER XIII--CIRCULATING NOTES AND BONDS SECURING SAME
Secs. 441 to 448. Omitted
Codification
Sections, act Dec. 23, 1913, ch. 6, Sec. 18, 38 Stat. 268, as
amended by acts Mar. 9, 1933, ch. 1, title IV, Sec. 401, 48 Stat. 6;
Sept. 23, 1994, Pub. L. 103-325, title VI, Sec. 602(g)(7), 108 Stat.
2293, are omitted as obsolete.
Section 441 provided that at any time during a period of twenty
years from Dec. 23, 1915, any member bank desiring to retire the whole
or any part of its circulating notes file with the Treasurer of the
United States an application to sell for its account, at par and accrued
interest, United States bonds, securing circulation to be retired.
Section 442 related to purchase of bonds by reserve banks.
Section 443 related to transfer of bonds purchased, payment, and
cancellation of circulating notes of member banks.
Section 444 related to issuance of circulating notes to reserve
banks purchasing bonds.
Section 445 provided for issuance of circulating notes to Federal
Reserve banks. Act June 12, 1945, ch. 186, Sec. 3, 59 Stat. 238,
provided that all power and authority with respect to the issuance of
circulating notes, known as Federal Reserve bank notes, pursuant to this
section would cease and terminate on June 12, 1945.
Section 446 related to exchange by reserve banks of bonds bearing
circulating privilege for those without such privilege.
Section 447 related to form of bonds and conditions of issuance.
Section 448 related to exchange of one-year gold notes for 3 per
centum gold bonds.
