Financial Institutions

Powers and Operations

SECTION 19-3-11

§ 19-3-11. Reserve requirements of the Federal Reserve System.

Every financial institution within this state shall maintain reserves as required by the provisions with respect to reserve funds and reserve balances contained in the Federal Reserve Act, 12 U.S.C. § 221 et seq., and in the rules, regulations, orders, and rulings from time to time in force of the Board of Governors of the Federal Reserve System.

History of Section.
(P.L. 1995, ch. 82, § 40.)