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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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7500 - FRB Regulations


RESERVATION OF RIGHTS TO STATES

SEC. 7.  (a)  IN GENERAL.--No provision of this Act shall be construed as preventing any State from exercising such powers and jurisdiction which it now has or may hereafter have with respect to companies, banks, bank holding companies, and subsidiaries thereof.

[Codified to 12 U.S.C. 1846(a)]

[Source:  Section 7 of the Act of May 9, 1956 (Pub. L. No. 511; 70 Stat. 138), effective May 9, 1956, as amended by section 101(f) of title I of the Act of August 10, 1987 (Pub. L. No. 100--86; 101 Stat. 563), effective August 10, 1987; section 101(b) of title I of the Act of September 29, 1994 (Pub. L. No. 103--328; 108 Stat. 2341), effective September 29, 1995]

(b)  STATE TAXATION AUTHORITY NOT AFFECTED.--No provision of this Act shall be construed as affecting the authority of any State or political subdivision of any State to adopt, apply, or administer any tax or method of taxation to any bank, bank holding company, or foreign bank, or any affiliate of any bank, bank holding company, or foreign bank, to the extent that such tax or tax method is otherwise permissible by or under the Constitution of the United States or other Federal law.

[Codified to 12 U.S.C. 1846(b)]

[Source:  Section 7(b) of the Act of May 9, 1956 (Pub. L. No. 511; 70 Stat. 138), effective May 9, 1956, as added by Section 101(b) of title I of the Act of September 29, 1994 (Pub. L. No. 103--328; 108 Stat. 2341), effective September 29, 1995]


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