No member bank shall act as the medium or agent of a nonmember bank in applying for or receiving discounts from a Federal reserve bank under the provisions of this chapter, except by permission of the Board of Governors of the Federal Reserve System.
Dec. 23, 1913, ch. 6, § 19(e)38 Stat. 270June 21, 1917, ch. 32, § 1040 Stat. 239Aug. 23, 1935, ch. 61449 Stat. 704Pub. L. 89–597, § 2(b)80 Stat. 824(, formerly § 19 (par. 8), ; , ; , title II, § 203(a), ; renumbered § 19(e), , , .)
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.
Codification
Pub. L. 89–597section 463 of this titleSection is comprised of part of subsec. (e), formerly eighth par., of section 19 of act , as redesignated by . Remainder of subsec. (e) of such section 19 is classified to .
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.