United States Code (Last Updated: May 24, 2014) |
Title 12. BANKS AND BANKING |
Chapter 3. FEDERAL RESERVE SYSTEM |
SubChapter XII. FEDERAL RESERVE NOTES |
§ 420. Control and direction of plates and dies; expense of issue and retirement of notes paid by banks
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The plates and dies to be procured by the Secretary of the Treasury for the printing of such circulating notes shall remain under his control and direction, and the expenses necessarily incurred in executing the laws relating to the procuring of such notes, and all other expenses incidental to their issue and retirement, shall be paid by the Federal reserve banks, and the Board of Governors of the Federal Reserve System shall include in its estimate of expenses levied against the Federal reserve banks a sufficient amount to cover the expenses herein provided for.
References In Text
Phrase “herein provided for”, referred to in text, probably means as provided for in section 16 of act
Codification
Section is comprised of the ninth par. (formerly the tenth par.) of section 16 of act
Amendments
1994—Pub. L. 103–325, which directed amendment of “[t]he 10th undesignated paragraph of section 16 of the Federal Reserve Act (12 U.S.C. 420)” by substituting “Secretary of the Treasury” for “Comptroller of the Currency” and “Board of Governors of the Federal Reserve System” for “Federal Reserve Board”, was executed by making the substitutions in this section to reflect the probable intent of Congress.