12 CFR 23.20

§ 23.20 General rule.

United States · 12 CFR — Banks and Banking · Status: effective

Cite this

Citation: 12 CFR 23.20, § 23.20 General rule, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/43265
Permanent ID: ys:prov:43265@1
SHA-256: a2758550116a43e3f194993f58cb16d4fc30dfa1fdfd9ee791531655467a1de2

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Full text

Pursuant to 12 U.S.C. 24(Seventh) a national bank may invest in tangible or intangible personal property, including vehicles, manufactured homes, machinery, equipment, furniture, patents, copyrights, and other intellectual property, for the purpose of, or in connection with leasing that property, if the related lease is a conforming lease representing a noncancelable obligation of the lessee (notwithstanding the possible early termination of that lease).

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.