S 2538 · 97th Congress · Finance and Financial Sector

A bill to amend section 5137 of the Revised Statutes to extend, under certain conditions, the period of time a national bank may hold real estate.

Introduced 1982-05-18· Sponsored by Sen. Tower, John G. [R-TX]· Senate

Bill Progress

Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Committee on Banking requested executive comment from Comptroller of the Currency.(1982-07-02)

Plain Language Summary

[AI summary unavailable — showing source text] Permits any national banking association which, on the date of enactment, holds title to an interest in real estate which it carried on its books at a nominal rate on December 31, 1979, to continue to hold such interest for such period as would be permitted a State- chartered bank by the law of the State in which the association is located if the aggregate amount of earnings from such interest is separately disclosed in the association's annual financial statement.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (2)

1 Democrat1 Republican