Fabio
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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>
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| LegalText | 12 U.S.C. § 486 | Waiver of requirements as to reports from or examinations of affiliates | us | united_states_code | code_section | 12 | BANKS AND BANKING | 3 | FEDERAL RESERVE SYSTEM | 486 | 12 U.S.C. § 486 | 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/s486 | data/legal/raw/us/code/title-12/usc12.xml | 50ad8ec55ee3215cf2681da010b81dff72562eab5adffcfb5932242e1d1213be | e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa | 4388b6f539290677c421c39f5ad7405589f3c7b84996975dd44ef959f2e1d183 | 2026-07-04 | official |
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12 U.S.C. § 486 - Waiver of requirements as to reports from or examinations of affiliates
Text
Whenever member banks are required to obtain reports from affiliates, or whenever affiliates of member banks are required to submit to examination, the Board of Governors of the Federal Reserve System or the Comptroller of the Currency, as the case may be, may waive such requirements with respect to any such report or examination of any affiliate if in the judgment of the said Board or Comptroller, respectively, such report or examination is not necessary to disclose fully the relations between such affiliate and such bank and the effect thereof upon the affairs of such bank.
(Dec. 23, 1913, ch. 6, § 21 (par.), as added Aug. 23, 1935, ch. 614, title III, § 325, 49 Stat. 715.)
Notes
Editorial Notes
Codification This section was not enacted as part of R.S. § 5240 which comprises this subchapter. Act Dec. 23, 1913, derived from R.S. § 5240.
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, not included in transfer of functions to Secretary of the Treasury, see note set out under section 1 of this title.