And provided furtherNo corporation organized under this subchapter shall carry on any part of its business in the United States except such as, in the judgment of the Board of Governors of the Federal Reserve System, shall be incidental to its international or foreign business: , That except such as is incidental and preliminary to its organization, no such corporation shall exercise any of the powers conferred by this subchapter until it has been duly authorized by the Board of Governors of the Federal Reserve System to commence business as a corporation organized under the provisions of this subchapter.
Dec. 23, 1913, ch. 6, § 25ADec. 24, 1919, ch. 1841 Stat. 378Aug. 23, 1935, ch. 61449 Stat. 704Pub. L. 102–242, title I, § 142(e)(2)105 Stat. 2281( (par.), formerly § 25(a), as added , ; amended , title II, § 203(a), ; renumbered § 25A, , , .)
Editorial Notes
References in Text
This subchapter, referred to in text, was in the original “this section”, meaning section 25A of act , which is classified to this subchapter (§ 611 et seq.).
Codification
section 611 of this titleSection is comprised of par. 8 (undesignated) of section 25A of act , which comprises this subchapter. For complete classification of section 25A of this Act, 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.