12 U.S.C. § 322
Section 322 · Determination on application
This is § 9 of the Federal Reserve Act of 1913
Amended 3 times on record
Applied in 1 court decisions — leading case Continental Bank & Trust Co., of Salt Lake City v. Woodall (1957)
Most recently applied in Continental Bank & Trust Co., of Salt Lake City v. Woodall (January 1957)
How often courts cite this section
Court decisions citing this, by year.Markers show enactment, consequential amendments, and circuit splits over this section — watch for a citation surge after a change or a disagreement. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
In acting upon such applications the Board of Governors of the Federal Reserve System shall consider the financial condition of the applying bank, the general character of its management, and whether or not the corporate powers exercised are consistent with the purposes of this chapter.
Editorial notes U.S. Code · Office of the Law Revision Counsel
Codification
Section is comprised of the fourth par. of section 9 of act Dec. 23, 1913, as amended. The fourth par. constituted the second par. of section 9 in 1917 (40 Stat. 232), became the third par. in 1927 (44 Stat. 1229), and became the fourth par. in 1950 (64 Stat. 458). For further details, see Codification note set out under section 321 of this title.
Change of Name
Section 203(a) of act Aug. 23, 1935, changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.