12 U.S.C. § 522
Federal Reserve branch bank buildings
No Federal Reserve bank may authorize the acquisition or construction of any branch building, or enter into any contract or other obligation for the acquisition or construction of any branch building, without the approval of the Board.
Notes of Decisions
Cited in 2
cases, 1982–1989 · leading case: Lee Constr. Co. v. Fed. Reserve Bank of Richmond, 558 F. Supp. 165 (D. Maryland 1982).
Lee Constr. Co. v. Fed. Reserve Bank of Richmond, 558 F. Supp. 165 (D. Maryland 1982). “12 U.S.C. § 522 . “Appropriated funds are not used in constructing Federal Reserve buildings; the cost of construction is amortized out of the earnings of the Federal Reserve banks over a period of years.”
Jackson v. First Fed. Sav. of Arkansas, FA, 709 F. Supp. 887 (E.D. Ark. 1989). “(The regulation also lists 12 U.S.C. § 522 , but that is apparently a misprint for 5 U.”
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