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12 USC CHAPTER 19 - SECURITY MEASURES FOR BANKS AND

SAVINGS ASSOCIATIONS 01/06/03

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TITLE 12 - BANKS AND BANKING

CHAPTER 19 - SECURITY MEASURES FOR BANKS AND SAVINGS ASSOCIATIONS

.

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CHAPTER 19 - SECURITY MEASURES FOR BANKS AND SAVINGS ASSOCIATIONS

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Sec.

1881. ''Federal supervisory agency'' defined.

1882. Security measures.

(a) Rules for installation, maintenance, and

operation of security devices and procedures.

(b) Time for compliance with standards.

1883. Insurance rates; report to Congress.

1884. Penalties for violations.

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12 USC Sec. 1881 01/06/03

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TITLE 12 - BANKS AND BANKING

CHAPTER 19 - SECURITY MEASURES FOR BANKS AND SAVINGS ASSOCIATIONS

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Sec. 1881. ''Federal supervisory agency'' defined

-STATUTE-

As used in this chapter the term ''Federal supervisory agency''

means -

(1) The Comptroller of the Currency with respect to national

banks and district banks,

(2) The Board of Governors of the Federal Reserve System with

respect to Federal Reserve banks and State banks which are

members of the Federal Reserve System,

(3) The Federal Deposit Insurance Corporation with respect to

State banks which are not members of the Federal Reserve System

but the deposits of which are insured by the Federal Deposit

Insurance Corporation and State savings associations, and

(4) The Director of the Office of Thrift Supervision with

respect to Federal savings. (FOOTNOTE 1)

(FOOTNOTE 1) So in original. Probably should be ''Federal

savings associations.''

-SOURCE-

(Pub. L. 90-389, Sec. 2, July 7, 1968, 82 Stat. 294; Pub. L.

101-73, title VII, Sec. 744(h), Aug. 9, 1989, 103 Stat. 439.)

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AMENDMENTS

1989 - Par. (3). Pub. L. 101-73, Sec. 744(h)(2), inserted

reference to State savings associations.

Par. (4). Pub. L. 101-73, Sec. 744(h)(1), substituted ''Director

of the Office of Thrift Supervision'' for ''Federal Home Loan Bank

Board'', struck out ''and loan'' after ''Federal savings'', and

struck out ''associations, and institutions the accounts of which

are insured by the Federal Savings and Loan Insurance Corporation''

before period at end.

SHORT TITLE

Section 1 of Pub. L. 90-389 provided: ''That this Act (enacting

this chapter and amending section 1729 of this title) may be cited

as the 'Bank Protection Act of 1968'.''

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 1883 of this title.

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12 USC Sec. 1882 01/06/03

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TITLE 12 - BANKS AND BANKING

CHAPTER 19 - SECURITY MEASURES FOR BANKS AND SAVINGS ASSOCIATIONS

-HEAD-

Sec. 1882. Security measures

-STATUTE-

(a) Rules for installation, maintenance, and operation of security

devices and procedures

Within six months from July 7, 1968, each Federal supervisory

agency shall promulgate rules establishing minimum standards with

which each bank or savings and loan association must comply with

respect to the installation, maintenance, and operation of security

devices and procedures, reasonable in cost, to discourage

robberies, burglaries, and larcenies and to assist in the

identification and apprehension of persons who commit such acts.

(b) Time for compliance with standards

The rules shall establish the time limits within which banks and

savings and loan associations shall comply with the standards.

-SOURCE-

(Pub. L. 90-389, Sec. 3, July 7, 1968, 82 Stat. 295; Pub. L.

101-73, title IX, Sec. 911(a), Aug. 9, 1989, 103 Stat. 478.)

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AMENDMENTS

1989 - Subsec. (b). Pub. L. 101-73 struck out ''and shall require

the submission of periodic reports with respect to the

installation, maintenance, and operation of security devices and

procedures'' before period at end.

EFFECTIVE DATE OF 1989 AMENDMENT

Amendment by Pub. L. 101-73 applicable with respect to reports

filed or required to be filed after Aug. 9, 1989, see section

911(i) of Pub. L. 101-73, set out as a note under section 161 of

this title.

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12 USC Sec. 1883 01/06/03

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TITLE 12 - BANKS AND BANKING

CHAPTER 19 - SECURITY MEASURES FOR BANKS AND SAVINGS ASSOCIATIONS

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Sec. 1883. Insurance rates; report to Congress

-STATUTE-

The Federal supervisory agencies shall consult with

(1) insurers furnishing insurance protection against losses

resulting from robberies, burglaries, and larcenies committed

against financial institutions referred to in section 1881 of

this title, and

(2) State agencies having supervisory or regulatory

responsibilities with respect to such insurers

to determine the feasibility and desirability of premium rate

differentials based on the installation, maintenance, and operation

of security devices and procedures. The Federal supervisory

agencies shall report to the Congress the results of their

consultations pursuant to this section not later than two years

after July 7, 1968.

-SOURCE-

(Pub. L. 90-389, Sec. 4, July 7, 1968, 82 Stat. 295.)

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12 USC Sec. 1884 01/06/03

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TITLE 12 - BANKS AND BANKING

CHAPTER 19 - SECURITY MEASURES FOR BANKS AND SAVINGS ASSOCIATIONS

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Sec. 1884. Penalties for violations

-STATUTE-

A bank or savings and loan association which violates a rule

promulgated pursuant to this chapter shall be subject to a civil

penalty which shall not exceed $100 for each day of the violation.

-SOURCE-

(Pub. L. 90-389, Sec. 5, July 7, 1968, 82 Stat. 295.)

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