FEDERAL · 12 U.S.C. · Chapter SUBCHAPTER VIII—STATE BANKS AS MEMBERS OF SYSTEM
Dealing in investment securities; limitations and conditions
12 U.S.C. § 335
Title12 — Banks and Banking
ChapterSUBCHAPTER VIII—STATE BANKS AS MEMBERS OF SYSTEM
This text of 12 U.S.C. § 335 (Dealing in investment securities; limitations and conditions) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
12 U.S.C. § 335.
Text
State member banks shall be subject to the same limitations and conditions with respect to the purchasing, selling, underwriting, and holding of investment securities and stock as are applicable in the case of national banks under paragraph "Seventh" of section 24 of this title. This section shall not apply to any interest held by a State member bank in accordance with section 24a of this title and subject to the same conditions and limitations provided in such section.
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Related
Securities Industry Ass'n v. Board of Governors of the Federal Reserve System
468 U.S. 137 (Supreme Court, 1984)
Fed. Sec. L. Rep. P 95,494 Great Western Bank & Trust v. Sol Kotz
532 F.2d 1252 (Ninth Circuit, 1976)
Baker, Watts & Co. v. Saxon
261 F. Supp. 247 (District of Columbia, 1966)
The Port of New York Authority v. Baker, Watts & Co.
392 F.2d 497 (D.C. Circuit, 1968)
Securities Industry Association v. Board of Governors of the Federal Reserve System, Chase Manhattan Corp., Intervenor
847 F.2d 890 (D.C. Circuit, 1988)
Investment Company Institute v. Board of Governors of the Federal Reserve System
606 F.2d 1004 (D.C. Circuit, 1979)
Opinion No.
(Arkansas Attorney General Reports, 1997)
Source Credit
History
(Dec. 23, 1913, ch. 6, §9 (par.), as added June 16, 1933, ch. 89, §5(c), 48 Stat. 165; amended Pub. L. 106–102, title I, §121(d)(2), Nov. 12, 1999, 113 Stat. 1381.)
Editorial Notes
Editorial Notes
Codification
Section is comprised of the twentieth par. of section 9 of act Dec. 23, 1913, as amended. The twentieth par. constituted the eighteenth par. of section 9 in 1933 (48 Stat. 16), became the nineteenth par. in 1935 (49 Stat. 704), and became the twentieth par. in 1950 (64 Stat. 458). For further details, see Codification notes set out under sections 321 and 329a of this title.
Amendments
1999—Pub. L. 106–102 inserted at end "This section shall not apply to any interest held by a State member bank in accordance with section 24a of this title and subject to the same conditions and limitations provided in such section."
Statutory Notes and Related Subsidiaries
Effective Date of 1999 Amendment
Amendment by Pub. L. 106–102 effective 120 days after Nov. 12, 1999, see section 161 of Pub. L. 106–102, set out as a note under section 24 of this title.
Codification
Section is comprised of the twentieth par. of section 9 of act Dec. 23, 1913, as amended. The twentieth par. constituted the eighteenth par. of section 9 in 1933 (48 Stat. 16), became the nineteenth par. in 1935 (49 Stat. 704), and became the twentieth par. in 1950 (64 Stat. 458). For further details, see Codification notes set out under sections 321 and 329a of this title.
Amendments
1999—Pub. L. 106–102 inserted at end "This section shall not apply to any interest held by a State member bank in accordance with section 24a of this title and subject to the same conditions and limitations provided in such section."
Statutory Notes and Related Subsidiaries
Effective Date of 1999 Amendment
Amendment by Pub. L. 106–102 effective 120 days after Nov. 12, 1999, see section 161 of Pub. L. 106–102, set out as a note under section 24 of this title.
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12 U.S.C. § 335, Counsel Stack Legal Research, https://law.counselstack.com/usc/12/335.