§ 620. — Members of Board of Governors of the Federal Reserve System without interest in corporation.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC620]
TITLE 12--BANKS AND BANKING
CHAPTER 6--FOREIGN BANKING
SUBCHAPTER II--ORGANIZATION OF CORPORATIONS TO DO FOREIGN BANKING
Sec. 620. Members of Board of Governors of the Federal Reserve
System without interest in corporation
No member of the Board of Governors of the Federal Reserve System
shall be an officer or director of any corporation organized under the
provisions of this subchapter or of any corporation engaged in similar
business organized under the laws of any State, nor hold stock in any
such corporation, and before entering upon his duties as a member of the
Board of Governors of the Federal Reserve System he shall certify under
oath to the Secretary of the Treasury that he has complied with this
requirement.
(Dec. 23, 1913, ch. 6, Sec. 25A (par.), formerly Sec. 25(a), as added
Dec. 24, 1919, ch. 18, 41 Stat. 378; amended Aug. 23, 1935, ch. 614,
title II, Sec. 203(a), 49 Stat. 704; renumbered Sec. 25A, Pub. L. 102-
242, title I, Sec. 142(e)(2), Dec. 19, 1991, 105 Stat. 2281.)
References in Text
This subchapter, referred to in text, was in the original ``this
section'', meaning section 25A of act Dec. 23, 1913, which is classified
to this subchapter (Sec. 611 et seq.).
Codification
Section is comprised of a part of section 25A, formerly section
25(a), which was added to act Dec. 23, 1913, ch. 6, by act Dec. 24,
1919.
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.
