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2026-07-06 10:51:44 -04:00

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LegalText 12 U.S.C. § 2 Comptroller of the Currency; appointment; term us united_states_code code_section 12 BANKS AND BANKING 1 THE COMPTROLLER OF THE CURRENCY 2 12 U.S.C. § 2 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip /us/usc/t12/s2 data/legal/raw/us/code/title-12/usc12.xml ae4160ce1108be3e06b71caea2a4732eff6076cdbbc3f28a50841cb1cd2803f8 e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa 34d5ba41181c444b4d1c54e7012d5fdcd7f0ecc20f9cdbfdd02417b806de40ef 2026-07-04 official
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12 U.S.C. § 2 - Comptroller of the Currency; appointment; term

Text

The Comptroller of the Currency shall be appointed by the President, by and with the advice and consent of the Senate, and shall hold his office for a term of five years unless sooner removed by the President, upon reasons to be communicated by him to the Senate.

(R.S. § 325; Aug. 23, 1935, ch. 614, title II, § 209, 49 Stat. 707.)

Notes

Editorial Notes

Codification R.S. § 325 derived from act June 3, 1864, ch. 106, § 1, 13 Stat. 99, which was the National Bank Act. See section 38 of this title. Provisions of this section which prescribed the annual basic compensation of the Comptroller of the Currency were omitted to conform to the provisions of the Executive Schedule. See section 5314 of Title 5, Government Organization and Employees.

Amendments1935—Act Aug. 23, 1935, struck out “on the recommendation of the Secretary of the Treasury” after “President”, where first appearing, and changed the salary from “$5,000 a year” to “$15,000 a year”.

Statutory Notes and Related Subsidiaries

RepealsAct Oct. 15, 1949, ch. 695, § 4, 63 Stat. 880, formerly cited as a credit to this section, was repealed by Pub. L. 89554, § 8(a), Sept. 6, 1966, 80 Stat. 655.

Executive Documents

Exception as to Transfer of Functions Functions vested by any provision of law in Comptroller of the Currency, referred to in this section, were not included in transfer of functions to Secretary of the Treasury, see note set out under section 1 of this title.