---
kind: "section"
citation: "12 C.F.R. § 23.1"
title: "12"
number: "23.1"
heading: "Authority, purpose, and scope."
url: "https://uscodex.org/cfr/12/23.1"
---

# §23.1. Authority, purpose, and scope.

- (a) **Authority.** A national bank may engage in personal property lease financing transactions pursuant to 12 U.S.C. [24(Seventh)](/usc/12/24.md?p=Seventh) or [12](/usc/12/12.md) U.S.C. 24(Tenth).
- (b) **Purpose.** The purpose of this part is to set forth standards for personal property lease financing transactions authorized for national banks.
- (c) **Scope.** This part applies to the acquisition of personal property by a national bank for the purpose of, or in connection with, the leasing of that property.

## Notes

### Authority

Authority: 12 U.S.C. 1 et seq., 24(Seventh), 24(Tenth), and 93a.

### Source

Source: 61 FR 66560, Dec. 18, 1996, unless otherwise noted.