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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

FDIC Law, Regulations, Related Acts

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1000 - Federal Deposit Insurance Act


SEC. 16  In order that the Corporation may be supplied with such forms of notes, debentures, bonds, or other such obligations as it may need for issuance under this Act, the Secretary of the Treasury is authorized to prepare such forms as shall be suitable and approved by the Corporation, to be held in the Treasury subject to delivery, upon order of the Corporation. The engraved plates, dies, bed pieces, and other material executed in connection therewith shall remain in the custody of the Secretary of the Treasury. The Corporation shall reimburse the Secretary of the Treasury for any expenses incurred in the preparation, custody, and delivery of such notes, debentures, bonds, or other such obligations.

[Codified to 12 U.S.C. 1826]

[Source:  Section 2[16] of the Act of September 21, 1950 (Pub. L. No. 797; 64 Stat. 890), effective September 21, 1950]

NOTES AND DECISIONS

Derivation.  Section 16 derives from section 12B(q) of the Federal Reserve Act, as added by section 8 of the Act of June 16, 1933 (Pub. L. No. 66; 48 Stat. 177), effective June 16, 1933. Section 12B(q) of the Federal Reserve Act was amended by section 101[12B(q)] of title I of the Act of August 23, 1935 (Pub. L. No. 305; 49 Stat. 700), effective August 23, 1935. By section 1 of the Act of September 21, 1950 (Pub. L. No. 797; 64 Stat. 873), effective September 21, 1950, section 12B of the Federal Reserve Act was withdrawn as a part of that Act and was made a separate act known as the "Federal Deposit Insurance Act."


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