Laws: Cases and Codes : U.S. Code : Title 12
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U.S. Code as of:
01/19/04
Chapter 6 - Notes
SUBCHAPTER I - ESTABLISHMENT BY NATIONAL BANKS OF FOREIGN BRANCHES
AND INVESTMENTS IN BANKS DOING FOREIGN BUSINESS
Sec.
601. Authorization; conditions and regulations.
602. Reports and examinations.
603. Restrictions imposed by Board of Governors of the
Federal Reserve System on banks purchasing stock in
corporations doing foreign business.
604. Accounts of foreign branches; profit and loss.
604a. Regulations authorizing exercise by foreign branches
of usual powers of local banks; restrictions.
605. Repealed.
SUBCHAPTER II - ORGANIZATION OF CORPORATIONS TO DO FOREIGN BANKING
611. Formation authorized; fiscal agents; depositaries in
insular possessions.
611a. Statement of purposes; rules and regulations.
612. Articles of association; contents.
613. Signing of articles of association; forwarding to and
filing by Board of Governors of the Federal Reserve
System; organization certificate; contents.
614. Organization certificate; acknowledgment; forwarding
to, filing, and approval by Board of Governors of the
Federal Reserve System; permit to do business; body
corporate; name; seal; corporate succession;
contracts; suits; directors, officers, and employees;
bylaws.
615. Powers of corporation.
(a) Dealings in drafts, checks, bills of exchange,
acceptances, and other evidences of
indebtedness; purchase and sale of securities;
letters of credit; purchase and sale of coin,
bullion, and exchange; borrowing and loaning
money; issue of debentures, bonds, and notes;
deposits; limitation of liabilities; reserves.
(b) Branches or agencies.
(c) Purchase of stock in other corporations.
616. Place of carrying on business; when business may be
begun.
617. Engaging in commerce or trade in commodities; price
fixing; forfeiture of charter; acts forbidden to
directors, officers, agents, or employees.
618. Capital stock; amount; when paid in.
619. Capital stock; by whom held; ownership of capital
stock by foreign bank.
620. Members of Board of Governors of the Federal Reserve
System without interest in corporation.
621. Liability of shareholders on unpaid subscriptions;
membership of corporation in Federal reserve bank
prohibited.
622. Forfeiture of rights and privileges; dissolution;
liability of directors and officers.
623. Voluntary liquidation.
624. Appointment of receiver or conservator.
625. Stockholders' meetings; books and records; reports;
examination.
626. Dividends; surplus fund.
627. State taxation.
628. Extension of corporate existence.
629. Conversion of banking corporations into Federal
corporations; procedure.
630. Offenses by officers of corporation; punishment.
631. False representations as to liability of United States
for acts of corporation; punishment.
632. Jurisdiction of United States courts; disposition by
banks of foreign owned property.
633. Potential liability on foreign accounts.
(a) Exceptions from repayment requirement.
(b) Regulations.
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