Us Code § 266 - State-chartered banks and other institutions as depositaries of public money; fiscal agents; duties
Full text of Us Code United States Code § 266 — State-chartered banks and other institutions as depositaries of public money; fiscal agents; duties, with citation guidance and answers to common questions.
§ 266. State-chartered banks and other institutions as depositaries of public money; fiscal agents; duties
Banks, savings banks, and savings and loan, building and loan, homestead associations (including cooperative banks), and credit unions created under the laws of any State and the deposits or accounts of which are insured by a State or agency thereof or corporation chartered pursuant to the laws of any State may be depositaries of public money and may be employed as fiscal agents of the United States. The Secretary of the Treasury is authorized to deposit public money in any such institution, and shall prescribe such regulations as may be necessary to enable such institutions to become depositaries of public money and fiscal agents of the United States. Each such institution shall perform all such reasonable duties as depositary of public money and fiscal agent of the United States as may be required of it including services in connection with the collection of taxes and other obligations owed the United States.
(Pub. L. 95–147, §2(d), Oct. 28, 1977, 91 Stat. 1228.)
Editorial Notes
Codification
Section was not enacted as part of the Federal Reserve Act, which comprises this chapter.
SUBCHAPTER VI—CAPITAL AND STOCK OF FEDERAL RESERVE BANKS; DIVIDENDS AND EARNINGS
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12 U.S.C. § 266 is part of Title 12 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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