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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

FDIC Law, Regulations, Related Acts

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1000 - Federal Deposit Insurance Act


SEC. 23.  SEPARABILITY OF CERTAIN PROVISIONS OF THIS CHAPTER.--The provisions of this Act limiting the insurance of the deposits of any depositor to a maximum less than the full amount shall be independent and separable from each and all of the provisions of this Act.

[Codified to 12 U.S.C. 1831]

[Source:  Section 2[23, formerly 21, then 22] of the Act of September 21, 1950 (Pub. L. No. 797; 64 Stat. 894), effective September 21, 1950, as renumbered by section 3 of the Act of December 15, 1967 (Pub. L. No. 90-203; 81 Stat. 610), effective April 1, 1968 and section 101 of title I of the Act of October 26, 1970 (Pub. L. No. 91-508; 84 Stat. 1114), effective November 1, 1971]

NOTES AND DECISIONS

Derivation.  Section 23 derives from section 12B(z) of the Federal Reserve Act, as added by section 101[12B(z)] of title I of the Act of August 23, 1935 (Pub. L. No. 305; 49 Stat. 703), effective August 23, 1935. By section 1 of the Act of September 21, 1950 (Pub. L. No. 797; 64 Stat. 873), effective September 21, 1950, section 12B of the Federal Reserve Act was withdrawn as a part of that Act and was made a separate act known as the "Federal Deposit Insurance Act."


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