12 U.S.C. § 484 | Limitation on visitorial powers

(a)

No national bank shall be subject to any visitorial powers except as authorized by Federal law, vested in the courts of justice or such as shall be, or have been exercised or directed by Congress or by either House thereof or by any committee of Congress or of either House duly authorized.

(b)

Notwithstanding subsection (a), lawfully authorized State auditors and examiners may, at reasonable times and upon reasonable notice to a bank, review its records solely to ensure compliance with applicable State unclaimed property or escheat laws upon reasonable cause to believe that the bank has failed to comply with such laws.

Feb. 19, 1875, ch. 89 18 Stat. 329 Dec. 23, 1913, ch. 6, § 21 38 Stat. 272 Pub. L. 97–320, title IV, § 412Oct. 15, 198296 Stat. 1521 Pub. L. 97–457, § 23(a)Jan. 12, 198396 Stat. 2510(R.S. § 5240 (par.); , ; , ; , , ; , , .)

Editorial Notes

Codification

act June 3, 1864, ch. 106, § 54 13 Stat. 116 section 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 sixth par. of R.S. § 5240, as amended. See Codification note set out under .

Section 412 of Pub. L. 97–320 section 23(a) of Pub. L. 97–457 section 412 of Pub. L. 97–320 Pub. L. 97–320 Pub. L. 97–457, set out in the credit of this section, was amended by to correct an error in the directory language of . That amendment involved only directory language and not the content of the text being amended by so no change in the text of this section resulted from the amendment by .

Amendments

Pub. L. 97–320 Pub. L. 97–4571982—Subsec. (a). , as amended by , designated existing provisions as subsec. (a), and amended subsec. (a) generally. Prior to amendment subsec. (a) read as follows: “No bank shall be subject to any visitorial powers other than such as are authorized by law, or vested in the courts of justice or such as shall be or shall have been exercised or directed by Congress, or by either House thereof or by any committee of Congress or of either House duly authorized”.

Pub. L. 97–320 Pub. L. 97–457Subsec. (b). , as amended by , added subsec. (b).

Statutory Notes and Related Subsidiaries

Effective Date of 1983 Amendment

Pub. L. 97–457, § 23(b)Jan. 12, 198396 Stat. 2510

section 412 of Pub. L. 97–320 Public Law 97–320Oct. 15, 1982“The amendment made by subsection (a) [amending , which amended this section] shall be deemed to have taken effect upon the enactment of [].”

, , , provided that: