Title 12 — Banks and BankingRelease 119-73
§4 Deputy Comptrollers
Title 12 › Chapter CHAPTER 1— - THE COMPTROLLER OF THE CURRENCY › § 4
Summary
Treasury Secretary must appoint up to four Deputy Comptrollers, name one First Deputy, and set their pay. Each must be sworn, follow the Comptroller’s directions, and, if needed, carry out the Comptroller’s duties in a succession led by the First Deputy.
Full Legal Text
Title 12, §4
Banks and Banking — Source: USLM XML via OLRC
The Secretary of the Treasury shall appoint no more than four Deputy Comptrollers of the Currency, one of whom shall be designated First Deputy Comptroller of the Currency, and shall fix their salaries. Each Deputy Comptroller shall take the oath of office and shall perform such duties as the Comptroller shall direct. During a vacancy in the office or during the absence or disability of the Comptroller, each Deputy Comptroller shall possess the power and perform the duties attached by law to the office of the Comptroller under such order of succession following the First Deputy Comptroller as the Comptroller shall direct.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Codification R.S. § 327 derived from act June 3, 1864, ch. 106, § 1, 13 Stat. 99, which was the National Bank Act. See section 38 of this title. R.S. § 327, contained after the word “Secretary” the following “who shall be entitled to a salary of two thousand five hundred dollars a year, and” which was omitted from this section on authority of act Mar. 4, 1923, § 209(b), fourth sentence, which was classified to section 9a of this title and regulated the salaries of deputy comptrollers.
Amendments
1972—Pub. L. 92–310 struck out provisions which required each Deputy Comptroller to give a bond in the sum of $100,000. 1959—Pub. L. 86–251 provided for the appointment of four Deputy Comptrollers instead of one, the designation of one as the First Deputy, the fixing of salaries, increase in surety bond requirement from $50,000 to $100,000 and order of succession.
Executive Documents
Exception as to
Transfer of Functions
Functions 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 section 1 of this title.
Reference
Citations & Metadata
Citation
12 U.S.C. § 4
Title 12 — Banks and Banking
Last Updated
Apr 6, 2026
Release point: 119-73