§ 372.
(a)
Institutions; drafts and bills of exchange; types
Any member bank and any Federal or State branch or agency of a foreign bank subject to reserve requirements under
section 3105 of this title (hereinafter in this section referred to as “institutions”), may accept drafts or bills of exchange drawn upon it having not more than six months’ sight to run, exclusive of days of grace—
(i)
which grow out of transactions involving the importation or exportation of goods;
(ii)
which grow out of transactions involving the domestic shipment of goods; or
(iii)
which are secured at the time of acceptance by a warehouse receipt or other such document conveying or securing title covering readily marketable staples.
([Dec. 23, 1913, ch. 6, § 13] (par.), [38 Stat. 264]; [Mar. 3, 1915, ch. 93], [38 Stat. 958]; [Sept. 7, 1916, ch. 461], [39 Stat. 752]; [June 21, 1917, ch. 32, § 5], [40 Stat. 235]; [Aug. 23, 1935, ch. 614], title II, § 203(a), [49 Stat. 704]; [Pub. L. 97–290, title II, § 207], Oct. 8, 1982, [96 Stat. 1239].)