Section 208.31 - State member banks as transfer agents(a) The rules adopted by the Securities and Exchange Commission (SEC) pursuant to section 17A of the Securities Exchange Act of 1934 (15 U.S.C. 78q -l) prescribing procedures for registration of transfer agents for which the SEC is the appropriate regulatory agency (17 CFR 240.17Ac 2-1 ) apply to member bank transfer agents. References to the "Commission" are deemed to refer to the Board.(b) The rules adopted by the SEC pursuant to section 17A prescribing operational and reporting requirements for transfer agents (17 CFR 240.17Ac 2-2 and 240.17Ad-1 through 240.17Ad-16 ) apply to member bank transfer agents.