The Federal reserve act (approved December 23, 1913) as amended to March 4, 1931

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Monograph

Identifikator:: 1856431436

URN:: urn:nbn:de:zbw-retromon-262738

Document type:: Monograph

Title:: The Federal reserve act (approved December 23, 1913) as amended to March 4, 1931

Place of publication:: Washington

Publisher:: United States Government Printing Office

Year of publication:: 1931

Scope:: ii, 170 Seiten

Digitisation:: 2022

Collection:: Economics Books

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26(a) nge; ads, 3 a8 arve ities mes side sits for yun- ited nei- r be ard, : of -ies, hall vers this ‘rve ons, any ling zed ates uch ibe, sits. + of ies, ries uch rVe 18y not 1 to 107- FTO ign i der | sion ral | lise | BEc. 25 (a) FEDERAL RESERVE ACT or commodities in the United States, and not transacting any business in the United States except such as in the judgment of the Federal Reserve Board may be inci- dental to its international or foreign . business: Pro- vided, however, That, except with the approval of the Federal Reserve Board, no corporation organized here- ander shall invest in any one corporation an amount in excess of 10 per centum of its own capital and surplus, except in a corporation engaged in the business of bank- ng, when 15 per centum of its capital and surplus may be so invested: Provided further, That no corporation organized hereunder shall purchase, own, or hold stock Or certificates of ownership in any other corporation organized hereunder or under the laws of any State which is in substantial competition therewith, or which holds stock or certificates of ownership in corporations which are in substantial competition with the purchasing ‘orporation. Nothing contained herein shall prevent corporations organized hereunder from purchasing and holding stock In any corporation where such purchase shall be necessary t0 prevent a loss upon a debt previously contracted in g00d faith; and stock so purchased or acquired in cor- Porations organized under this section shall within six Months from such purchase be sold or disposed of at Jublic or private sale unless the time to so dispose of same is extended by the Federal Reserve Board. No corporation organized under this section shall tarry on any part of its business in the United States except such as, in the judgment of the Federal Reserve Board, shall be incidental to its international or foreign business: And provided further, That except such as is incidented and preliminary to its organization no such corporation shall exercise any of the powers conferred by this section until it has been duly authorized by the Federal Reserve Board to commence business as a cor- ooration organized under the provisions of this section. No corporation organized under this section shall ngage in commerce or trade in commodities except as specifically provided in this section, nor shall it either directly or indirectly control or fix or attempt to control or fix the price of any such commodities. The charter of any corporation violating this provision shall be sub- iect to forfeiture in the manner hereinafter provided on ry

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