12 USC § 2 - Comptroller of the Currency; appointment; term

---
identifier: "/us/usc/t12/s2"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 2 - Comptroller of the Currency; appointment; term"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "2"
section_name: "Comptroller of the Currency; appointment; term"
chapter_number: 1
chapter_name: "THE COMPTROLLER OF THE CURRENCY"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(R.S. § 325; Aug. 23, 1935, ch. 614, title II, § 209, 49 Stat. 707.)"
---


# § 2. Comptroller of the Currency; appointment; term

The Comptroller of the Currency shall be appointed by the President, by and with the advice and consent of the Senate, and shall hold his office for a term of five years unless sooner removed by the President, upon reasons to be communicated by him to the Senate.

---

**Source Credit**: (R.S. § 325; Aug. 23, 1935, ch. 614, title II, § 209, 49 Stat. 707.)

## Editorial Notes

### Codification

R.S. § 325 derived from , , which was the National Bank Act. See .

Provisions of this section which prescribed the annual basic compensation of the Comptroller of the Currency were omitted to conform to the provisions of the Executive Schedule. See , Government Organization and Employees.

### Amendments

1935—Act , struck out “on the recommendation of the Secretary of the Treasury” after “President”, where first appearing, and changed the salary from “$5,000 a year” to “$15,000 a year”.

## Statutory Notes and Related Subsidiaries

### Repeals

, , formerly cited as a credit to this section, was repealed by , , .

## Executive Documents

### Exception as to Transfer of Functions

Functions vested by any provision of law in Comptroller of the Currency, referred to in this section, were not included in transfer of functions to Secretary of the Treasury, see note set out under .