The Board of Governors of the Federal Reserve System shall, at least once each year, order an examination of each Federal reserve bank, and upon joint application of ten member banks the Board of Governors of the Federal Reserve System shall order a special examination and report of the condition of any Federal reserve bank.
Feb. 19, 1875, ch. 8918 Stat. 329Dec. 23, 1913, ch. 6, § 2138 Stat. 272Aug. 23, 1935, ch. 61449 Stat. 704(R.S. § 5240 (par.); , ; , ; , title II, § 203(a), .)
Editorial Notes
Codification
act June 3, 1864, ch. 106, § 5413 Stat. 116section 38 of this titleR.S. § 5240 derived from , , which was part of the National Bank Act. See .
section 481 of this titleSection is comprised of seventh par. of R.S. § 5240, as amended. 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.