U.S. Code, Title 12, Banks and Banking

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Author: "U.S. Congress, Office of the Law Revision Counsel"

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§ 616. Place of Carrying on Business; When Business May Be Begun

     No corporation organized under this subchapter shall carry on any part of its business in the United States except such as, in the judgment of the Board of Governors of the Federal Reserve System, shall be incidental to its international or foreign business: And provided further, That except such as is incidental and preliminary to its organization, no such corporation shall exercise any of the powers conferred by this subchapter until it has been duly authorized by the Board of Governors of the Federal Reserve System to commence business as a corporation organized under the provisions of this subchapter.

(Dec. 23, 1913, ch. 6, § 25A (par.), formerly § 25(a), as added Dec. 24, 1919, ch. 18, 41 Stat. 378; amended Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704; renumbered § 25A, Pub. L. 102–242, title I, § 142(e)(2), Dec. 19, 1991, 105 Stat. 2281.)

References in Text

     This subchapter, referred to in text, was in the original "this section", meaning section 25A of act Dec. 23, 1913, which is classified to this subchapter (§ 611 et seq.).

Codification

     Section is comprised of a part of section 25A, formerly section 25(a), which was added to act Dec. 23, 1913, ch. 6, by act Dec. 24, 1919.

Change of Name

     Section 203(a) of act Aug. 23, 1935, changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.

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Chicago: "U.S. Congress, Office of the Law Revision Counsel", "§ 616. Place of Carrying on Business; When Business May Be Begun," U.S. Code, Title 12, Banks and Banking in U.S. Code, Title 12, Banks and Banking (Washington, D.C.: Government Printing Office, 2002), Original Sources, accessed April 25, 2018, http://www.originalsources.com/Document.aspx?DocID=CRH8Y2ERTBHF9WA.

MLA: "U.S. Congress, Office of the Law Revision Counsel". "§ 616. Place of Carrying on Business; When Business May Be Begun." U.S. Code, Title 12, Banks and Banking, in U.S. Code, Title 12, Banks and Banking, Washington, D.C., Government Printing Office, 2002, Original Sources. 25 Apr. 2018. www.originalsources.com/Document.aspx?DocID=CRH8Y2ERTBHF9WA.

Harvard: "U.S. Congress, Office of the Law Revision Counsel", '§ 616. Place of Carrying on Business; When Business May Be Begun' in U.S. Code, Title 12, Banks and Banking. cited in 2002, U.S. Code, Title 12, Banks and Banking, Government Printing Office, Washington, D.C.. Original Sources, retrieved 25 April 2018, from http://www.originalsources.com/Document.aspx?DocID=CRH8Y2ERTBHF9WA.