[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC466]
TITLE 12--BANKS AND BANKING
CHAPTER 3--FEDERAL RESERVE SYSTEM
SUBCHAPTER XIV--BANK RESERVES
Sec. 466. Reserves of banks in dependencies or insular
possessions
National banks, or banks organized under local laws, located in a
dependency or insular possession or any part of the United States
outside the continental United States, may remain nonmember banks, and
shall in that event maintain reserves and comply with all the conditions
now provided by law regulating them; or said banks may with the consent
of the Board of Governors of the Federal Reserve System, become member
banks of any one of the reserve districts, and shall in that event take
stock, maintain reserves, and be subject to all the other provisions of
this chapter.
(Dec. 23, 1913, ch. 6, Sec. 19(h), formerly Sec. 19 (par. 11), 38 Stat.
270; Aug. 15, 1914, ch. 252, 38 Stat. 692; June 21, 1917, ch. 32,
Sec. 10, 40 Stat. 240; Aug. 23, 1935, ch. 614, title II, Sec. 203(a), 49
Stat. 704; Pub. L. 86-70, Sec. 8(b), June 25, 1959, 73 Stat. 142;
renumbered Sec. 19(h), Pub. L. 89-597, Sec. 2(b), Sept. 21, 1966, 80
Stat. 824.)
Codification
Section is comprised of subsec. (h), formerly eleventh par., of
section 19 of act Dec. 23, 1913, as redesignated by Pub. L. 89-597.
Amendments
1959--Pub. L. 86-70 struck out ``in Alaska or'' before ``in a
dependency''.
Change of Name
Section 203(a) of act Aug. 23, 1935, changed name of Federal Reserve
Board to Board of Governors of th
