§ 602. — Reports and examinations.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC602]
TITLE 12--BANKS AND BANKING
CHAPTER 6--FOREIGN BANKING
SUBCHAPTER I--ESTABLISHMENT BY NATIONAL BANKS OF FOREIGN BRANCHES AND
INVESTMENTS IN BANKS DOING FOREIGN BUSINESS
Sec. 602. Reports and examinations
Every national banking association operating foreign branches shall
be required to furnish information concerning the condition of such
branches to the Comptroller of the Currency upon demand, and every
member bank investing in the capital stock of banks or corporations
described in subsection second of section 601 of this title shall be
required to furnish information concerning the condition of such banks
or corporations to the Board of Governors of the Federal Reserve System
upon demand, and the Board of Governors of the Federal Reserve System
may order special examinations of the said branches, banks, or
corporations at such time or times as it may deem best.
(Dec. 23, 1913, ch. 6, Sec. 25 (par.), 38 Stat. 273; Sept. 7, 1916, ch.
461, 39 Stat. 755; Sept. 17, 1919, ch. 60, Sec. 3, 41 Stat. 286; Aug.
23, 1935, ch. 614, title II, Sec. 203(a), 49 Stat. 704.)
Codification
Section is comprised of a part of section 25 of act Dec. 23, 1913,
as amended, which comprises this subchapter.
Amendments
1919--Act Sept. 17, 1919, corrected reference to preceding section.
1916--Act Sept. 7, 1916, substituted ``operating'' for ``which shall
receive authority to establish foreign branches'' and inserted ``every
member bank investing in the capital stock of banks or corporations
described in subsection second of section 601 of this title''.
Change of Name
Section 203(a) of act Aug. 23, 1935, changed name of Federal Reserve
Board to Board of Governors of the Federal Reserve System.
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.
