United States Nat. Bank of Ore. v. Independent Ins. Agents of America, Inc., 508 U.S. 439, 18 (1993)

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456

UNITED STATES NAT. BANK OF ORE. v. INDEPENDENT INS. AGENTS OF AMERICA, INC.

Opinion of the Court

"Federal reserve Act," approved [1913], be, and is hereby, amended as follows. 39 Stat. 752. It then contains what appear to be seven directory phrases not surrounded by quotation marks, each of which is followed by one or more paragraphs within opening and closing quotation marks. These are the seven phrases (the numbers and citations in brackets are ours):

[1] At the end of section eleven insert a new clause as follows:

". . ." [39 Stat. 752]

[2] That section thirteen be, and is hereby, amended to read as follows:

". . ." [39 Stat. 752]

[3] Section fifty-two hundred and two of the Revised Statutes of the United States is hereby amended so as to read as follows:

". . ." 8 [39 Stat. 753]

[4] That subsection (e) of section fourteen, be, and is hereby, amended to read as follows:

". . ." [39 Stat. 754]

[5] That the second paragraph of section sixteen be, and is hereby, amended to read as follows:

". . ." [39 Stat. 754]

[6] That section twenty-four be, and is hereby, amended to read as follows:

". . ." [39 Stat. 754]

[7] That section twenty-five be, and is hereby, amended to read as follows:

". . ." [39 Stat. 755]

The paragraph eventually codified as 12 U. S. C. § 92 is one of several inside the quotation marks that open after the

8 That the text within quotation marks follows the third directory phrase immediately after a space, rather than after a paragraph break, is significant. See n. 9, infra.

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