Trru; Lxu.——NATI()NAL BANKS.—C1-x. 3-1. 1009 ing the most recent first day of January or July. Every association which fails so to make such return shall be liable to a penalty of two hundred dollars, to be collected either out of the interest as it may hecome due such association on the bonds deposited with the Treasurer, or, at his option, in the manner in which penalties are to be collected of other corporations under the laws of the United States. Sec. 5216. lVhenever any association fails to make the half—yearl * Penalty for failreturn required by the preceding section, the duties to be paid by such ¤*‘°*<>¤¤¤k*>¤’°*¤¤¤- association shall be assessed upon the amount of notes delivered to such _Ibid. association by the Comptroller of the Currency, and upon the highest amount of its deposits and capital stock, to be ascertained in such manner as the Treasurer may deem best. Sec. 5217. Whenever an association fails to pay the duties imposed P¤¤¤l*Y f<>*f9ilby the three recedin sections, the sums due may be collected in the PL’f’_l’“Y d“"°“‘ manner provid)ed for the collection of United States taxes from other Ibid. corporations; or the Treasurer may reserve the amount out of the interest, as it may become due, on the bonds deposited with him by such defaulting association. Sec. 5218. In all cases where an association l1as paid or may pay in Refuudirrg GX- excess of what may be or has been found due from it, on account of the ‘j°§*§)’*’ d“"‘¥';__ duty required to be paid to the Treasurer of the United States, the asso- 2Mar.,1867,Res. ciation may state an account therefor, which, on being certified by the *9· "· It P- 572- Treasurer of the United States, and found correct by the First Comptroller of the Treasury, shall be refunded in the ordinary manner by warrant on the Treasury. Sec. 5219. Nothing herein shall prevent all the shares in any associa- State taxation. tion from being included in the valuation of the personal property of the _ owner or holder of such shares, in assessing taxes imposed by authority 106, s_ 41; v, 15,1., of the State within which the association is located; but the legislature 111- of each State may determine and direct the manner and place of taxing 7 10 ¥§b·· ifs- "· all the shares of national banking associations located within the State, ’ v' ’ p' ' subject only to the two restrictions, that the taxation shall not be at a Bank of C0m_ greater rate than is assessed upon other moneyed capital in the hands of merce v. New York individual citizens of such State, and that the shares of an * national City. 2 BL. 620; banking associationowned by non-residents of any State shall be taxed Xa" AE'; $,,52** in the city or town where the bank is located, and not elsewhere. Noth— bywméle ,,_Tl,é ing herein shall be construed to exempt the real property of associations Commissioners, 4 from either State, county, or municipal taxes, to the same extent. accord- WML. 244$B¤¤d— ing to its value, as other real property is taxed. l,°¥t,¢I§;fh°459€°t’g;; tional Bank r. The Commonwealth, 9 Wall., 353; Lionberger zu Rouse, 9 Wall.; 468; He burn v. The School Directors, 23 Wall., 480; People r. Commissioners of Taxes, &c., 94 S., 415; Bank of Omaha r. Douglas Co., 3 Dill., 299; First National Bank r. Douglas C0., 3 Dill., 330. CHAPTER FOUR. DIBSOLUTION AND BEGEIVERSHIP. Sec. Sec. 5220. Voluntary dissolution of associa- 5230. Sale of bonds at auction. tions. 5231. Sale of bonds at private sale. 5221. Notice of intent to dissolve. 5232. Disposal of protested notes. 5222. Deposit of lawful money to redeem 5233. Cancellation of national-bank notes. outstanding circulation. 5234. Appointment of receivers. 5223. Exerrrption as to an association con- 5235. Notice to present claims. soli ating with mother. · 5236. Dividends. 5224. Re-assignment of bonds; redemp- 5237. Injunction upon receivership. tion of notes, &c. 5238. Fees and expenses. 5225. Destruction of redeemed notes. 5239. Penalty for violation of this Title. 5226. Mode of protesting notes. 5240. Appointment of occasional exam-- 5227. Examination by special agent. ners. _ _ _ 5228. Continuing business after default. 5241. Limit of visitorial powers. 5229. Notice to holders; redemption at 5242. Transfers, when void. Treasury; cancellation of bonds. 5243. l`se of the title "national."
