Every national banking association operating foreign branches shall conduct the accounts of each foreign branch independently of the accounts of other foreign branches established by it and of its home office, and shall at the end of each fiscal period transfer to its general ledger the profit or loss accrued at each branch as a separate item.
Dec. 23, 1913, ch. 6, § 2538 Stat. 273Sept. 7, 1916, ch. 46139 Stat. 756( (par.), ; , .)
Editorial Notes
Codification
section 601 of this titleSection is comprised of the sixth undesignated par. of section 25 of act , which comprises this subchapter. For classification of other pars. of section 25 of this Act, see Codification note under .
The words “national banking association operating foreign branches” were in the original “such banking association”.
Amendments
1916—Act , substituted “accrued” for “accruing”.