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x~>G;lo An act authorizing any bank or trust company incorporated under the laws of this Commonwealth to becone a.mamber of a Fede~l Reserve Bank, and in such event to be subject to all the provisions of the act o:f Congress known as the Federal Re-serve Act; allC\'ning any such bank or. trust co~pany to comply with the reserve requirements of such act in lieu of those established by the laws of this Comaonwealth; and per-mitting the commissioner of banking to accept the examinations and audits made pursuant to such act in lieu of those required by the laws of this Coomonwealth. SECTION l. Be i t enactei by the I senate n and House of nepresentat ives of the Commonwealth of - - - - - - - - - - - i n General Assembly n:et, and it is hereby enacted by the authority of the sana, That any bank . or trust company incorporated under the laws of this Com:r.onweal th shail have the power to subscribe to the capital stock and become a ~mber of a Federal Reserve Bank created and organized under an act of Congress of the United ~tates approved the twenty-third day of December anno Domini one thousand nine hundfed and thirteen, and knPWU as the Feder.al Reserve Act. SECTION 2. Any bank or trust company,.. incorporated under the laws of this Commonwealth, whic:P. shall becorr.$ a member of a Federal Reserve Bank, shall be subject to all the provisiQns of the Federal Reserve Act C • v'•"•,"';~ '~~ 50 - 2- and its amencbDents, ·and to ~he regulatiOnS of the Federal Reserve~ Beard applicable .to sucll bank or trilst company, and shall have all as~ the po-Rers and all the liabilities conhrrali !l.nd imposed by said act .. SECTION a. ~Y such bank or trust company shall comply with the reserve requirements of the Federal f\eserve Act and its a.n-.en~nts, and the COlllpliance of such bank or trust con:pa.ny therewith shall be in lieu of, and shall relieve such bank or trust company from, compliance with the provisions of the laws of this Cor;.monwea.lth relating to the xraintenance of reserves. SECTION 4. Any such bank or trust corr.pany shall be subject to the examinations required under the missioner o~ te~~ of the Federal Reserve Act, and the com- banking may, in his discretion, accept such examinations e~ations in lieu of the required under the laws of this C~onwealth. Section 5. All acts and parts of aQts inconsistent herewith are llereby .fepealecl .. l/2a/la - l •