Change of name or location

1. Law
2. USC 12
3. Banks And Banking
4. NATIONAL BANKS
5. ORGANIZATION AND GENERAL PROVISIONS
6. Change of name or location

§30. Change of name or location

(a) Name change

Any national banking association, upon written notice to the Comptroller of the Currency, may change its name, except that such new name shall include the word "National".

(b) Location change

Any national banking association, upon written notice to the Comptroller of the Currency, may change the location of its main office to any authorized branch location within the limits of the city, town, or village in which it is situated, or, with a vote of shareholders owning two-thirds of the stock of such association for a relocation outside such limits and upon receipt of a certificate of approval from the Comptroller of the Currency, to any other location within or outside the limits of the city, town, or village in which it is located, but not more than thirty miles beyond such limits.

(c) Coordination with section 36 of this title

In the case of a national bank which relocates the main office of such bank from 1 State to another State after May 31, 1997, the bank may retain and operate branches within the State from which the bank relocated such office only to the extent authorized in section 36(e)(2) of this title.

(d) Retention of "Federal" in name of converted Federal savings association

(1) In general

Notwithstanding subsection (a) or any other provision of law, any depository institution, the charter of which is converted from that of a Federal savings association to a national bank or a State bank after November 12, 1999, may retain the term "Federal" in the name of such institution if such institution remains an insured depository institution.

(2) Definitions

For purposes of this subsection, the terms "depository institution", "insured depository institution", "national bank", and "State bank" have the meanings given those terms in section 1813 of this title.

(May 1, 1886, ch. 73, §2, 24 Stat. 18 ; Pub. L. 86–230, §3, Sept. 8, 1959, 73 Stat. 457 ; Pub. L. 97–320, title IV, §405(a), Oct. 15, 1982, 96 Stat. 1512 ; Pub. L. 97–457, §19(a), Jan. 12, 1983, 96 Stat. 2509 ; Pub. L. 103–328, title I, §102(b)(2), Sept. 29, 1994, 108 Stat. 2350 ; Pub. L. 106–102, title VII, §723, Nov. 12, 1999, 113 Stat. 1471 .)

Amendments

1999-Subsec. (d). Pub. L. 106–102 added subsec. (d).

1994-Subsec. (c). Pub. L. 103–328 added subsec. (c).

1983-Subsec. (b). Pub. L. 97–457 inserted "for a relocation outside such limits" after "stock of such association".

1982-Pub. L. 97–320 designated existing provisions as subsec. (a), substituted provisions permitting a change of name upon written notice to the Comptroller, such new name to include "National", for provisions permitting a change of name or location of the main office, with approval of the Comptroller, within city limits, etc., or outside such limits by vote of shareholders, such change to be validated by certificate of approval, and added subsec. (b).

1959-Pub. L. 86–230 required approval of Comptroller of the Currency before a national bank could change location of its main office within the limitations of the city, town, or village in which it is situated.

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.

Download our app to see the most-to-date content.