section 248 of this titlesection 192 of this titleIt shall be unlawful for any officer, director, agent, or employee of any Federal reserve bank, or any member bank as defined in this chapter, to certify any check drawn upon such Federal reserve bank or member bank unless the person, firm, or corporation drawing the check has on deposit with such Federal reserve bank or member bank, at the time such check is certified, an amount of money not less than the amount specified in such check. Any check so certified by a duly authorized officer, director, agent, or employee shall be a good and valid obligation against such Federal reserve bank or member bank; but the act of any officer, director, agent, or employee of any such Federal reserve bank or member bank in violation of this section shall, in the discretion of the Board of Governors of the Federal Reserve System, subject such Federal reserve bank to the penalties imposed by subsection (h) of , and shall subject such member banks, if a national bank, to the liability and proceedings on the part of the Comptroller of the Currency provided for in , and shall, in the discretion of the Board of Governors of the Federal Reserve System, subject any other member bank to the penalties imposed by subchapter VIII of chapter 3 of this title for the violation of any of the provisions of this chapter.
Sept. 26, 1918, ch. 177, § 7 40 Stat. 972 Feb. 25, 1927, ch. 191, § 12 44 Stat. 1231 Aug. 23, 1935, ch. 614 49 Stat. 704 (R.S. § 5208; , ; , ; , 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 “the act of , known as the Federal Reserve Act,” and “said act,” respectively, meaning , . For complete classification of this Act to the Code, see References in Text note set out under and Tables.
Subchapter VIII of chapter 3 of this title, referred to in text, was in the original “section nine of said Federal reserve Act”. Section 9 is classified generally to subchapter VIII (§ 321 et seq.) of chapter 3 of this title.
Codification
act Mar. 3, 1869, ch. 135 15 Stat. 335 R.S. § 5208 derived from , .
act June 25, 1948, ch. 645 62 Stat. 862 section 1004 of Title 18The last sentence of R.S. § 5208, as amended, which provided penalties for certification of certain checks, was repealed by section 21 of , , 865, and the provisions thereof were reenacted as , Crimes and Criminal Procedure.
Amendments
1927—Act , substituted “deposited in the bank of the drawer thereof” after “regularly” in last sentence.
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
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, not included in transfer of functions to Secretary of the Treasury, see note set out under .