In acting upon such applications the Board of Governors of the Federal Reserve System shall consider the financial condition of the applying bank, the general character of its management, and whether or not the corporate powers exercised are consistent with the purposes of this chapter.
Dec. 23, 1913, ch. 6, § 9 June 21, 1917, ch. 32, § 3 40 Stat. 233 Aug. 23, 1935, ch. 614 49 Stat. 704 ( (par.), as added , ; amended , title II, § 203(a), .)
Editorial Notes
References in Text
act Dec. 23, 1913, ch. 6 38 Stat. 251 section 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.
Codification
40 Stat. 232 44 Stat. 1229 64 Stat. 458 section 321 of this titleSection is comprised of the fourth par. of section 9 of act , as amended. The fourth par. constituted the second par. of section 9 in 1917 (), became the third par. in 1927 (), and became the fourth par. in 1950 (). For further details, see Codification note set out under .
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.