Full text of Mimeograph Letters and Statements of the Board : Bill Introduced in House of Rep. by Mr. Carter Glass (H. R. 20540) for Authorizing National Banking Associations to Establish Branches, Number 999, Volume 4, Page 1970

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1970
999<
64th

CONGRESS,
,2d S e s s i o n *

H.

R.

205^0•

IS THE HOUSE OF REPRESENTATIVES,
J a n u a r y 26, l $ l 7 •
Mr. ti-lasd I n t r o d u c e d t h e f o l l o w i f t ^ b i l l j which Was r e f e r r e d t o t h e
Committee oh Banking and Currency and o r d e r e d t o "be p r i n t e d *

A

B

I

L

L

To a u t h o r i z e n a t i o n a l t a n k i n g a s s o c i a t i o n s t o e s t a b l i s h b r a n c h e s .




Be i t e n a c t e d by t h e S e n a t e and House of R e p r e s e n t a t i v e s of t h e U n i t e d S t a t e s of America i n Congress a s s e m b l e d ,
That t h e Act a p p r o v e d December t w e n t y - t h i r d , n i n e t e e n
h u n d r e d and t h i r t e e n , k n o w n a s t h e F e d e r a l r e s e r v e A c t , b e ,
and t h e same h e r e b y i s , amended by a d d i n g a new s e c t i o n as
follows:
"Domestic B r a n c h e s .
" S e c . 25a- That any member bank l o c a t e d i n a c i t y o r
i n c o r p o r a t e d town of more t h a n one h u n d r e d t h o u s a n d i n h a b i t a n t s and p o s s e s s i n g a c a p i t a l and s u r p l u s of $ 1 , 0 0 0 , 0 0 0
o r more may, u n d e r s u c h r u l e s and r e g u l a t i o n s a s t h e F e d e r a l
R e s e r v e Board may p r e s c r i b e , e s t a b l i s h b r a n c h e s , n o t t o
e x c e e d t e n i n number, w i t h i n t h e c o r p o r a t e l i m i t s of t h e c i t y
o r town i n which i t i s l o c a t e d :

P r o v i d e d , That no s u c h

b r a n c h s h a l l be e s t a b l i s h e d i n any S t a t e i n which n e i t h e r
S t a t e banks n o r t r u s t companies may l a w f u l l y e s t a b l i s h

*

1971
995-

2 -

b r a n c h e s : And p r o v i d e d f u r t h e r ,

That t h e number of

b r a n c h e s which a member bank may e s t a b l i s h s h a l l n o t
e x c e e d t h e number of b r a n c h e s which t h e laws of t h e
S t a t e i n which s a i d bank i s s i t u a t e d p e r m i t a S t a t e
bank o r t r u s t company t o e s t a b l i s h w i t h i n t h e c o r p o r a t e l i m i t s of s a i d c i t y o r t o w n . "

1/30/17.