Federal Reserve Note Law and Legal Definition
A Federal Reserve Note is the paper currency in circulation in the United States. Federal Reserve Notes are a kind of United States banknote printed by the United States Bureau of Engraving and Printing. Section 411 of Title 12 of the United States Code authorizes a Federal Reserve Note. Pursuant to the Federal Reserve Act of 1913, the Federal Reserve Banks issue these notes and are effectively non-interest-bearing promissory notes payable to bearer on demand. Federal Reserve Notes are issued in denominations of $1, $2, $5, $10, $20, $50, $100, $500, $1,000, $5,000, and $10,000. These notes bear the words “this note is legal tender for all debts, public and private.”
Legal Definition list
- Federal Reserve Float
- Federal Reserve District
- Federal Reserve Conspiracy Theory
- Federal Reserve Communications System
- Federal Reserve Board of Governors
- Federal Reserve Note
- Federal Reserve Processing Center
- Federal Reserve System
- Federal Retirement Account [Education]
- Federal Retirement Thrift Investment Board
- Federal Rules Decisions [F.R.D]
Related Legal Terms
- 21st Century Nanotechnology Research and Development Act of 2003
- Accompanying the Federal Government Outside the United States
- Active Guard and Reserve Duty
- Active Guard and Reserve(AGR)
- Active Voters [Federal Elections]
- Actuarial Documents [Federal Crop Insurance Corporation]
- Actuarially Appropriate [Federal Crop Insurance Corporation]
- Administrative Committee of the Federal Register
- Administrative Governor [Federal Reserve System]
- Advisory Councils of Federal Reserve System
