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

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LegalText 12 U.S.C. § 419 Delivery of notes prior to delivery to banks us united_states_code code_section 12 BANKS AND BANKING 3 FEDERAL RESERVE SYSTEM 419 12 U.S.C. § 419 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/s419 data/legal/raw/us/code/title-12/usc12.xml 2ac352afecd6036f53c70240029278ef2a3894a34e6b66ef49db0ee463e766ea e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa f3c71e3fcfcc5b6b7a18007add428e0a5032f1e356b178d124e6babcd1897d50 2026-07-04 official
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12 U.S.C. § 419 - Delivery of notes prior to delivery to banks

Text

When such notes have been prepared, the notes shall be delivered to the Board of Governors of the Federal Reserve System subject to the order of the Secretary of the Treasury for the delivery of such notes in accordance with this chapter.

(Dec. 23, 1913, ch. 6, § 16 (par.), 38 Stat. 267; May 29, 1920, ch. 214, § 1, 41 Stat. 654; Pub. L. 103325, title VI, § 602(g)(4), Sept. 23, 1994, 108 Stat. 2293.)

Notes

Editorial Notes

References in TextThis chapter, referred to in text, was in the original “this Act”, meaning act Dec. 23, 1913, ch. 6, 38 Stat. 251, as amended, known as the Federal Reserve Act. For complete classification of this Act to the Code, see References in Text note set out under section 226 of this title and Tables.

Codification Section is comprised of the eighth par. (formerly the ninth par.) of section 16 of act Dec. 23, 1913. For classification to this title of other pars. of section 16, see Codification note set out under section 411 of this title. On authority of act May 29, 1920, which abolished offices of Assistant Treasurers and distributed their functions, “designated depositary” substituted for “subtreasury” in 1926 ed. of the Code.

Amendments1994—Pub. L. 103325, which directed general amendment of “[t]he 9th undesignated paragraph of section 16 of the Federal Reserve Act (12 U.S.C. 419)”, was executed to this section to reflect the probable intent of Congress. Prior to amendment, section read as follows: “When such notes have been prepared, they shall be deposited in the Treasury, or in the designated depositary or mint of the United States nearest the place of business of each Federal reserve bank and shall be held for the use of such bank subject to the order of the Comptroller of the Currency for their delivery, as provided by this chapter.”