Rhode Island § 19-3-9 § 19-3-9. Financial institutions and credit unions joining Federal Reserve System.

Rhode Island Statutes

§ 19-3-9 — § 19-3-9. Financial institutions and credit unions joining Federal Reserve System.

Rhode Island·Title 19 Financial institutions·Ch. 19-3 Powers and Operations

§ 19-3-9. Financial institutions and credit unions joining Federal Reserve System.
(a) A financial institution, including a credit union, may subscribe to the capital stock
            and become a member of a Federal Reserve bank within the Federal Reserve district
            where the financial institution or credit union is situated under the provisions of
            the United States Federal Reserve Act, 12 U.S.C. § 221 et seq. The member financial institution or credit union shall be subject to the
            provisions of the Federal Reserve Act relative to member banks, and to the regulations
            of the Federal Reserve Board.
         
(b) Every member finan

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§ 19-3-9. Financial institutions and credit unions joining Federal Reserve System.

(a) A financial institution, including a credit union, may subscribe to the capital stock and become a member of a Federal Reserve bank within the Federal Reserve district where the financial institution or credit union is situated under the provisions of the United States Federal Reserve Act, 12 U.S.C. § 221 et seq. The member financial institution or credit union shall be subject to the provisions of the Federal Reserve Act relative to member banks, and to the regulations of the Federal Reserve Board.

(b) Every member financial institution or credit union may have and exercise any and all of the powers and privileges which may be exercised by member banks under the provisions of the Federal Reserve Act.

Rhode Island § 19-3-9 (§ 19-3-9. Financial institutions and credit unions joining Federal Reserve System.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.