Section 390:7 Federal Bank Membership.
A trust company which becomes a stockholder in a federal reserve bank may have and exercise any and all of the corporate powers and privileges incident thereto which may be exercised by member banks under the provisions of the United States ""federal reserve act,'' approved December 23, 1913, or any acts in amendment thereof or in addition thereto; and while such trust company continues as such bank it shall be subject to said provisions relative to bank reserves, in substitution for the requirements of this title.
Source. 1915, 109:28. PL 264:7. RL 312:7.