The Comptroller of the Currency shall be appointed by the President, by and with the advice and consent of the Senate, and shall hold his office for a term of five years unless sooner removed by the President, upon reasons to be communicated by him to the Senate.
Aug. 23, 1935, ch. 61449 Stat. 707(R.S. § 325; , title II, § 209, .)
Editorial Notes
Codification
act June 3, 1864, ch. 106, § 113 Stat. 99section 38 of this titleR.S. § 325 derived from , , which was the National Bank Act. See .
section 5314 of Title 5Provisions of this section which prescribed the annual basic compensation of the Comptroller of the Currency were omitted to conform to the provisions of the Executive Schedule. See , Government Organization and Employees.
Amendments
1935—Act , struck out “on the recommendation of the Secretary of the Treasury” after “President”, where first appearing, and changed the salary from “$5,000 a year” to “$15,000 a year”.
Statutory Notes and Related Subsidiaries
Repeals
Act Oct. 15, 1949, ch. 695, § 463 Stat. 880Pub. L. 89–554, § 8(a)80 Stat. 655, , formerly cited as a credit to this section, was repealed by , , .
Executive Documents
Exception as to Transfer of Functions
section 1 of this titleFunctions vested by any provision of law in Comptroller of the Currency, referred to in this section, were not included in transfer of functions to Secretary of the Treasury, see note set out under .