Title 12 — Banks and BankingRelease 119-73
§335 Dealing in investment securities; limitations and conditions
Title 12 › Chapter CHAPTER 3— - FEDERAL RESERVE SYSTEM › Subchapter SUBCHAPTER VIII— - STATE BANKS AS MEMBERS OF SYSTEM › § 335
Summary
State member banks must follow the same limits as national banks on buying, selling, underwriting, holding securities, except for interests under a separate rule.
Full Legal Text
Title 12, §335
Banks and Banking — Source: USLM XML via OLRC
State member banks shall be subject to the same limitations and conditions with respect to the purchasing, selling, underwriting, and holding of investment securities and stock as are applicable in the case of national banks under paragraph “Seventh” of section 24 of this title. This section shall not apply to any interest held by a State member bank in accordance with section 24a of this title and subject to the same conditions and limitations provided in such section.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Codification Section is comprised of the twentieth par. of section 9 of act Dec. 23, 1913, as amended. The twentieth par. constituted the eighteenth par. of section 9 in 1933 (48 Stat. 16), became the nineteenth par. in 1935 (49 Stat. 704), and became the twentieth par. in 1950 (64 Stat. 458). For further details, see Codification notes set out under section 321 and 329a of this title.
Amendments
1999—Pub. L. 106–102 inserted at end “This section shall not apply to any interest held by a State member bank in accordance with section 24a of this title and subject to the same conditions and limitations provided in such section.”
Statutory Notes and Related Subsidiaries
Effective Date
of 1999 AmendmentAmendment by Pub. L. 106–102 effective 120 days after Nov. 12, 1999, see section 161 of Pub. L. 106–102, set out as a note under section 24 of this title.
Reference
Citations & Metadata
Citation
12 U.S.C. § 335
Title 12 — Banks and Banking
Last Updated
Apr 6, 2026
Release point: 119-73