FORTY-FOURTH CONGRESS. Sess. I. Ch. 156. 1876. 63 O e CHAP. 156.-An act authorizing the appointment of receivers ofnationa.1 banks, and June 30, 1876. tor other purposes.——·····——·—-——- Be it enacted by the Senate and House of Representatives of the United Stews of America in Congress assembled, That whenever any national WMP *"°°°*“" banking assoeiationshall be dissolved, and its rights, privileges, and lranchises declared forfeited, as prescribed in section fifty-two hundred g(,1,,1,hM1im-1,,-gug and thirty-nine of the Revised Statutes of the United States, or when- rency. ever any creditor of any national banking association shall have obtained i R- S-: 5239i P- a judgment against it in any court of record, and made application, ww' accompanied by a certihcate from the clerk of the court stating that such judgment has been rendered and has remained unpaid for the space of thii ty days, or whenever the Comptroller shall become satistied of the insolvency of a national banking association, he may, after due examination of its affairs, in either case, appoint a receiver, who shall proceed R. S.5234,p.l0lS. to close up such association, and enforce the personal liability of the shaieholders, as provided in section fifty-two hundred and thirty-tour of said statutes. Sec. 2. That when any national banking association shall have gone _T_¤divj<l¤¤l l¥=¤— into liquidation under {lie provisions of section five thousand two hun- b;‘“g;’f Sé’“‘,'jl‘°£‘ died and twenty of said statutes, the individual liability of the share- ?,,,.g,,,1_W 0 ° ` holders provided for by section fifty-one hundred and fifty-one of said R. s., 5220, p. - statutes may be enforced by any creditor of such association, by bill in will- V V equity, in the nature of a creclitor’s bill, brought by such creditor on ,0,} Sa **1* P· behalfof himself and of all other creditors of the association, against ’ the shareholders thereof, in any court of the United States having origiual jurisdiction in equity for the district in which such association may have been located or established. ‘ Sec. 3. That whenever any association shall have been or shall be M¢<·fi¤::_<>f¤l¤=¤¤‘¤- placed in the hands of a receiver-, as provided in section fifty-two hun- h°ld;""“, @5,, dred and thirty-four and other sections of said statutes, and when, as provided in section fifty-two hundred and thirtysix thereoi, the Comp- ereiiip. troller shall have paid to each and every creditor of such association, R- S-, 5234, 5236, not including shareholders who are creditors of such association, P· 10*** whose claim or claims as such creditor shall have been proved or allowed as therein prescribed, the full amount of such claims and all expenses of the receiversliip, and the redemption of the circulating notes of such association shall have been provided for by depositing lawful money of the United States with the Treasurer of the United States, the Comptroller of the Currency shall call a meeting of the shareholders of such association by giving notice thereof for thirty days in a. newspaper _ Notice of meerr published in the town, city, or county where the business of such msassociation was carried on, or if no newspaper is there published, in the newspaper published nearest thereto, at which meeting the shareholders shall elect an agent, voting by ballot, in person or by proxy, each share Election ofagont of stock entitliiig the holder to one vote; and when such agent shall by ¤h=¤¤<>1¤¤1d¤Y¤· have received votes representing at least a majority of the stock in value and number of shares, and when any of the shareholders of the association hall have executed and filed a bond to the satisfaction of Bond for my- tlle Comptroller of the Currency, conditioned for the payment and dis- m°¤” Of dcbmcharge in full of any and every claim that may hereafter be proved and allowed against such association by and before a competent court, and tor the faithinl performance and discharge of all and singular the duties · of such trust, the Comptroller and the receiver shall thereupon transler T¤‘¤¤¤f¤¤¤f=¤¤¤¤‘*¤ and deliver to such agent all the undivided or uncolleeted or other assets ${2,,, ¥’"’Y’°"’Y '*° and property of such association then remaining in the hands or subject g ' to the order or control of said Comptroller and said receiver, or either of them; and for this purpose, said Comptroller and said receiver are hereby severally empowered to execute any deed, assignment, transfer, ,r£;j§;`;"”°“*” of or other instrument in writing that may be necessary and proper ; “` whereupon the said Comptroller and the said receiver shall, by virtue Dischm f of this act, be discharged and released from any and all liabilities to (1,,,,1,),,,,,11,,, gg ,,°,1 such association, and to each and all of the creditors and shareholders receiver.
