Fabio
76b8ec33a7
Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 -> 59,740; repo total 105,704 records. Deterministic (byte-identical rerun, verified on Title 42's 8,356 sections); make check green. make legal-us-code default now covers every title. Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
42 lines
1.5 KiB
Markdown
42 lines
1.5 KiB
Markdown
---
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type: "LegalText"
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title: "12 U.S.C. § 356"
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description: "Purchase of commercial paper from member banks and sale of same"
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jurisdiction: "us"
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corpus: "united_states_code"
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kind: "code_section"
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title_number: 12
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title_name: "BANKS AND BANKING"
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chapter_number: "3"
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chapter_name: "FEDERAL RESERVE SYSTEM"
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section: "356"
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citation: "12 U.S.C. § 356"
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status: "current"
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release_point: "119-100"
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release_date: "2026-06-26"
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source: "official"
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source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
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source_identifier: "/us/usc/t12/s356"
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source_file: "data/legal/raw/us/code/title-12/usc12.xml"
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source_hash: "231e5b072273ce39e2b53354774f7643be1cf0d11efa865fa7d4aba61d8ee792"
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raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
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text_hash: "3ff2a0468879cf8ffb43d58d1e79d71c28000c4e53ba47a9108bb536e5d22393"
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retrieved_at: "2026-07-04"
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confidence: "official"
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tags: ["legal", "us-code"]
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---
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# 12 U.S.C. § 356 - Purchase of commercial paper from member banks and sale of same
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## Text
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Every Federal reserve bank shall have power to purchase from member banks and to sell, with or without its indorsement, bills of exchange arising out of commercial transactions, as hereinbefore defined.
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(Dec. 23, 1913, ch. 6, § 14(c), 38 Stat. 264.)
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## Notes
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Editorial Notes
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Codification Section is comprised of subsec. (c) of section 14 of act Dec. 23, 1913. For classification to this title of remainder of section 14, see Codification note under section 353 of this title.
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