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U.S. Code as of:
01/19/04
Section 266. State-chartered banks and other institutions as depositaries of public money; fiscal agents; duties
Banks, savings banks, and savings and loan, building and loan,
homestead associations (including cooperative banks), and credit
unions created under the laws of any State and the deposits or
accounts of which are insured by a State or agency thereof or
corporation chartered pursuant to the laws of any State may be
depositaries of public money and may be employed as fiscal agents
of the United States. The Secretary of the Treasury is authorized
to deposit public money in any such institution, and shall
prescribe such regulations as may be necessary to enable such
institutions to become depositaries of public money and fiscal
agents of the United States. Each such institution shall perform
all such reasonable duties as depositary of public money and fiscal
agent of the United States as may be required of it including
services in connection with the collection of taxes and other
obligations owed the United States.
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