12 U.S.C. § 345
Rediscount of notes, drafts, and bills for member banks; limitation of amount
United States · Title 12 — BANKS AND BANKING · Status: effective
Cite this
- Citation
- 12 U.S.C. § 345, Rediscount of notes, drafts, and bills for member banks; limitation of amount, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/437316
- Permanent ID
ys:prov:437316@1- SHA-256
cfe74493acb98d497b481765a9d565461ab49b3b431d8abe903eca5e4217063f
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Full text
The aggregate of notes, drafts, and bills upon which any person, copartnership, association, or corporation is liable as maker, acceptor, indorser, drawer, or guarantor, rediscounted for any member bank, shall at no time exceed the amount for which such person, copartnership, association, or corporation may lawfully become liable to a national banking association under the terms of section 84 of this title: Provided, however, That nothing in this section shall be construed to change the character or class of paper now eligible for rediscount by Federal reserve banks.
Legislative history
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