US Code

Public Law 119-73 (01/23/2026)

12 U.S.C. § 222

Federal reserve districts; membership of national banks

Provided1

1 Capitalized as in original.
12 U.S.C. 1811section 501a of this titleThe continental United States, excluding Alaska, shall be divided into not less than eight nor more than twelve districts. Such districts may be readjusted and new districts may from time to time be created by the Board of Governors of the Federal Reserve System, not to exceed twelve in all: , That the districts shall be apportioned with due regard to the convenience and customary course of business and shall not necessarily be coterminous with any State or States. Such districts shall be known as Federal reserve districts and may be designated by number. When the State of Alaska or Hawaii is hereafter admitted to the Union the Federal Reserve  districts shall be readjusted by the Board of Governors of the Federal Reserve System in such manner as to include such State. Every national bank in any State shall, upon commencing business or within ninety days after admission into the Union of the State in which it is located, become a member bank of the Federal Reserve System by subscribing and paying for stock in the Federal Reserve bank of its district in accordance with the provisions of this chapter and shall thereupon be an insured bank under the Federal Deposit Insurance Act [ et seq.], and failure to do so shall subject such bank to the penalty provided by .

Dec. 23, 1913, ch. 6, § 238 Stat. 251Aug. 23, 1935, ch. 61449 Stat. 704Pub. L. 85–508, § 1972 Stat. 350Pub. L. 86–3, § 1773 Stat. 12( (part), ; , title II, § 203(a), ; , , ; , , .)

Editorial Notes

References in Text

act Dec. 23, 1913, ch. 638 Stat. 251section 226 of this titleThis chapter, referred to in text, was in the original “this Act”, meaning , , known as the Federal Reserve Act. For complete classification of this Act to the Code, see References in Text note set out under and Tables.

act Sept. 21, 1950, ch. 967, § 264 Stat. 873section 1811 of this titleThe Federal Deposit Insurance Act, referred to in text, is , , which is classified generally to chapter 16 (§ 1811 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under and Tables.

Codification

section 223 of this titleSection is based on part of the first par. of section 2 of act . Some of the other provisions of the first par. are classified to , and some were not included in the Code.

section 225 of this titleThe second par. of section 2 is classified in part to . The rest of the second par. was not included in the Code.

section 282 of this titleThe third par. of section 2 is classified in part to . The rest of the third par. was not included in the Code.

section 502 of this titleThe fourth par. of section 2 is classified to .

section 501a of this titleThe sixth and seventh pars. of section 2 are classified to .

section 283 of this titleThe ninth par. of section 2 is classified to .

section 284 of this titleThe tenth par. of section 2 was classified in part to former . The rest of the tenth par. was not included in the Code.

The eleventh and twelfth pars. of section 2 are classified to sections 285 and 286, respectively, of this title.

section 224 of this titlesection 281 of this titleThe thirteenth par. of section 2 is classified in part to and in part to . The rest of the thirteenth par. was not included in the Code.

The fifth and eighth pars. of section 2 were not included in the Code.

section 141 of this titlesection 141 of this titleFormer purportedly derived from part of section 2 of act . But see Codification note set out under former .

Amendments

Pub. L. 86–31959— required readjustment of districts when the State of Hawaii is admitted to the Union.

Pub. L. 85–5081958— required readjustment of districts when the State of Alaska is admitted to the Union, and inserted provisions requiring national banks to become members of the Federal Reserve System upon commencing business or within 90 Days after admission into the Union of the State in which they are located.

Statutory Notes and Related Subsidiaries

Change of Name

Section 203(a) of act , changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.

Executive Documents

Admission of Alaska and Hawaii to Statehood

Pub. L. 85–50872 Stat. 339section 21 of Title 48Pub. L. 86–373 Stat. 4section 491 of Title 48Alaska was admitted into the Union on , on issuance of Proc. No. 3269, , 24 F.R. 81, 73 Stat. C16, and Hawaii was admitted into the Union on , on issuance of Proc. No. 3309, , 24 F.R. 6868, 73 Stat. C74. For Alaska Statehood Law, see , , , set out as a note preceding , Territories and Insular Possessions. For Hawaii Statehood Law, see , , , set out as a note preceding .