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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 12 U.S.C. § 1846 Reservation of rights to States us united_states_code code_section 12 BANKS AND BANKING 17 BANK HOLDING COMPANIES 1846 12 U.S.C. § 1846 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/s1846 data/legal/raw/us/code/title-12/usc12.xml 2b5740d37077aa67f2befe44dc4c3dc72b90a1ec4ec3cab92165c5f4f926c88d e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa 858c6d7526435a074b0375b1748b4a459c1fe54b298a732cb0edcf5052d241e1 2026-07-04 official
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12 U.S.C. § 1846 - Reservation of rights to States

Text

(a) In general No provision of this chapter shall be construed as preventing any State from exercising such powers and jurisdiction which it now has or may hereafter have with respect to companies, banks, bank holding companies, and subsidiaries thereof.

(b) State taxation authority not affected No provision of this chapter shall be construed as affecting the authority of any State or political subdivision of any State to adopt, apply, or administer any tax or method of taxation to any bank, bank holding company, or foreign bank, or any affiliate of any bank, bank holding company, or foreign bank, to the extent that such tax or tax method is otherwise permissible by or under the Constitution of the United States or other Federal law.

(May 9, 1956, ch. 240, § 7, 70 Stat. 138; Pub. L. 10086, title I, § 101(f), Aug. 10, 1987, 101 Stat. 563; Pub. L. 103328, title I, § 101(b), Sept. 29, 1994, 108 Stat. 2341.)

Notes

Editorial Notes

Amendments1994—Pub. L. 103328 designated existing provisions as subsec. (a), inserted heading, and added subsec. (b). 1987—Pub. L. 10086 substituted “No provision of this chapter shall” for “The enactment by the Congress of this chapter shall not” and inserted “companies,” before “banks,”.

Statutory Notes and Related Subsidiaries

Effective Date of 1994 AmendmentAmendment by Pub. L. 103328 effective at end of 1-year period beginning on Sept. 29, 1994, see section 101(e) of Pub. L. 103328, set out as a note under section 1828 of this title.