12 U.S.C. § 411
Issuance to reserve banks; nature of obligation; redemption
United States · Title 12 — BANKS AND BANKING · Status: effective
Cite this
- Citation
- 12 U.S.C. § 411, Issuance to reserve banks; nature of obligation; redemption, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/437368
- Permanent ID
ys:prov:437368@1- SHA-256
59f3a7ec00d90082ced6d93156357838cc5ae154572d64a64bac6aaf7eb6d8ff
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
Federal reserve notes, to be issued at the discretion of the Board of Governors of the Federal Reserve System for the purpose of making advances to Federal reserve banks through the Federal reserve agents as hereinafter set forth and for no other purpose, are authorized. The said notes shall be obligations of the United States and shall be receivable by all national and member banks and Federal reserve banks and for all taxes, customs, and other public dues. They shall be redeemed in lawful money on demand at the Treasury Department of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve bank.
Legislative history
We haven't linked the enacting public law for this provision yet. That means it is missing from our records, not that no law enacted it.