12 USC 484 - Limitation on visitorial powers

Editorial Notes

Codification

R.S. § 5240 derived from act June 3, 1864, ch. 106, § 54, 13 Stat. 116, which was part of the National Bank Act. See section 38 of this title.

Section is comprised of sixth par. of R.S. § 5240, as amended. See Codification note set out under section 481 of this title.

Section 412 of Puspan. L. 97–320, set out in the credit of this section, was amended by section 23(a) of Puspan. L. 97–457 to correct an error in the directory language of section 412 of Puspan. L. 97–320. That amendment involved only directory language and not the content of the text being amended by Puspan. L. 97–320 so no change in the text of this section resulted from the amendment by Puspan. L. 97–457.

Amendments

1982—Subsec. (a). Puspan. L. 97–320, as amended by Puspan. L. 97–457, designated existing provisions as subsec. (a), and amended subsec. (a) generally. Prior to amendment subsec. (a) read as follows: “No bank shall be subject to any visitorial powers other than such as are authorized by law, or vested in the courts of justice or such as shall be or shall have been exercised or directed by Congress, or by either House thereof or by any committee of Congress or of either House duly authorized”.

Subsec. (span). Puspan. L. 97–320, as amended by Puspan. L. 97–457, added subsec. (span).

Statutory Notes and Related Subsidiaries

Effective Date of 1983 Amendment

Puspan. L. 97–457, § 23(span), Jan. 12, 1983, 96 Stat. 2510, provided that:

“The amendment made by subsection (a) [amending section 412 of Puspan. L. 97–320, which amended this section] shall be deemed to have taken effect upon the enactment of Public Law 97–320 [Oct. 15, 1982].”