§ 1846. — Reservation of rights to States.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC1846]
TITLE 12--BANKS AND BANKING
CHAPTER 17--BANK HOLDING COMPANIES
Sec. 1846. Reservation of rights to States
(a) In general
No provision of this chapter shall be construed as preventing any
State from exercising such powers and jurisdiction which it now has or
may hereafter have with respect to companies, banks, bank holding
companies, and subsidiaries thereof.
(b) State taxation authority not affected
No provision of this chapter shall be construed as affecting the
authority of any State or political subdivision of any State to adopt,
apply, or administer any tax or method of taxation to any bank, bank
holding company, or foreign bank, or any affiliate of any bank, bank
holding company, or foreign bank, to the extent that such tax or tax
method is otherwise permissible by or under the Constitution of the
United States or other Federal law.
(May 9, 1956, ch. 240, Sec. 7, 70 Stat. 138; Pub. L. 100-86, title I,
Sec. 101(f), Aug. 10, 1987, 101 Stat. 563; Pub. L. 103-328, title I,
Sec. 101(b), Sept. 29, 1994, 108 Stat. 2341.)
Amendments
1994--Pub. L. 103-328 designated existing provisions as subsec. (a),
inserted heading, and added subsec. (b).
1987--Pub. L. 100-86 substituted ``No provision of this chapter
shall'' for ``The enactment by the Congress of this chapter shall not''
and inserted ``companies,'' before ``banks,''.
Effective Date of 1994 Amendment
Amendment by Pub. L. 103-328 effective at end of 1-year period
beginning on Sept. 29, 1994, see section 101(e) of Pub. L. 103-328, set
out as a note under section 1828 of this title.
