12 USC 633 – Potential liability on foreign accounts
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(a) Exceptions from repayment requirement
A member bank shall not be required to repay any deposit made at a foreign branch of the bank if the branch cannot repay the deposit due to—
(1) an act of war, insurrection, or civil strife; or
(2) an action by a foreign government or instrumentality (whether de jure or de facto) in the country in which the branch is located;
unless the member bank has expressly agreed in writing to repay the deposit under those circumstances.
(b) Regulations
Terms Used In 12 USC 633
- writing: includes printing and typewriting and reproductions of visual symbols by photographing, multigraphing, mimeographing, manifolding, or otherwise. See 1 USC 1
The Board and the Comptroller of the Currency may jointly prescribe such regulations as they deem necessary to implement this section.