.2:1 i TITLE 1;.%-—BANKS in l=vw»:s; at that nmmznt aretautlmrlzed to reduce their cir- { < li’§§§§§%§€‘l!i by the depcsit of lawful money as provided by law: 3
{rmt thenatimml bank? which shall. hereafter make |
iiéglms of lawful money for the retirement in full of their cir-E i Y mgmlgzz simllwat the time Gl! llfheir deposit: be amgsedé {gr me .5 tw M trzmspqrting and redeeming their mates then outstazxdging,
- 3 gm mm! tcqthe avgzragfe cost ot the rcdamptiah of national-, a
{mt; wave; éufiug the prwédiug year, and sh9.l1‘themufmp péy 1 mi; ;:&§:e$·sx:ae:1t. `Aml all national Htmkswhiéi have heretofore <
- .h;»m;»g shall hcréuftcrjmake dapcsits of lawful money for the <
gwmilgm of their cirtvulatiezm shall be assessed and shall pay -1 K; ggsgrsziwécnt in the mane: specified .i1l.secti;z?§1 or this ; §§;§t» my tlxgtccst of transporting and rgdeemi their notes will i·w»»l` {mm such deposits subsequently to June _ 30, 1881. l" §;,;i;i;.» I2. 1882, t:._ 298, § 8; 22*St,at, 184;_Mar. 14, 19%, ‘c.M 41,‘ < $@*::1 Stat.49.)‘ · ·‘ — K *1 r l·?S.lWi1thdrawa1'cf umm on dépcsit bf money arid. with- l 1 drama} of Mads mr other securities.--:Any_ uational‘bam;i11g 1 ·gs~»;l·i:st§an desiring to withdmrv its circulating nqtcs,,secured ( lh; `l!l.~;¤;,»sit af"U¤ited`Smtcs bérxds in the manner provided in 1 l was 176 of this title, is hgrelgy authorimal fqr_tl1`at °pm·p0se `Q1
lzpgmig jawful money; with the Treasurer of.‘the‘United e
Smlh {md, gviglj the mrraexrt of the `Ccmptmlier of the Cntr- J t q~l»;;~;s :md·tl1`é':ipprov_a1; of the _Secrctary_ of the _Treasu°ry,_ tp. 1 §=l%¤%;€i_:·;a»»·.· :1 pmpcrtiuuaté amount of bonds held as security I {nz; its téuculmisag notes in. the order of .such·g1epo3its·:· Pro- 1 qw J, 'fmlt not irmré than w,00Q,(}00 of lawful m0,ne§ shall be 1 . rtl lmmitcd during any calendar month for this purpose. ‘ I . Any natiémal mxgking assbclaticu desiring to withdraw any. I é? Em tirculgtiug note; secured by the deposifot securities ¢ {:2%-1‘~ than b<mds"0I the United States; may make suéh withdrzzzyzal at any time in like manner and eHe<:t‘ by, the depbsit .1 43; i:m·ft1l_ money or national-bank notes with the Treasurer 4 M me United Stater, and umu such deposit a 'propqrtionate .4 slimy; of the securities so deposited may be withdrawn: Prbi 1
m1»¤1, That the`de@its under this section to retire gates se-;]
r l;zm~fi byfthe d@it ot_sec¤ritiés -other.·t11ai1 b0nds.of_.-=the- 4 I’mm l States shall not be covered into tbe_Trmsury, as ré· °; -t;¤zé:·#·<hi bg section·122 at gthiq titlaybut shall be remitted in the ’l`:*l·:m1ry for, the purpose of redeeming the nbtes of the brink - mesigiasg such deposit;. (July 12, 1882, c. 290, §_9, 22 Stat. 164;. . Am. 14,i19(}U, Q. 41% 5 12.’”3l.·Stat. 49,; Mar} 4, 1907, tc. 2013. s'-4, l 3i stat. 1290; May 30, 1908, c. 229, 5,10, 35‘·Stat. 551.) ~ _ VOLUNTA1}Yl,DIS'SOLUTION ‘ 791. Voluntary disscl¤tion.·§#—Any !asQ;0ciation·` may into , ` ?5:;%>%<T=li§1»l1 and beblosed by the vote ot its shareholders owning `, w;·——_zilirds at itsgtock. ’(·R, S. § 5220.) · l .- J `1 $2. Nptire af intent to dim¤lve.——g··\Vhe5ever a vote is taken ( i·· ;:¤ imc liquidation it shall be the duty of the boznrd not di- y
- »l~·;lq·>; tty causé notice of this fact to be certimd, under the -1
ml! of the association, by' its president. or cashier, tb the~ i
- ‘~·¤;m~:»ller of the Curi·em;··y,.aqd” publicatiém- thereof to be ·_;
wglv fdr a ;¤·ri0&.ot two mouths; in 3 newspaper publishcdl in ` 12-~%·&ty of New {mk, a¤ d·uLso lu a Wngwséaper publishedjn ~ xw 2·i:v at togvn in which the association is located, or if no i ¥~j·‘~<v::{¤er is there published, than ir: the_lx1ewsp0.§c1° published r¤·Em>st thereta, that the gsscciatioxi is clésing uplts nffairs,“ * lim mtityiug the holders of its uqtes and other creditors to * ·;·1··»;sent the hates and·0thar‘c1nitms" against tlfa assqclatiou for ‘* 1*t{5’m5;—nt. (R. S. § 5221.) ‘ » _· ? __ * a i 183, D@it of Y1g¤¤;cy_tc_redecm mxtstanding ciréulati¤x1.—¢—— ¢ within gi: mbnths from tire dété of the vsté tqgc into liqui-. 1 {s;lmm, the association shall deposit with the Treugurer ct the ·< lhitml States, lawful money at the United~ $ta.te·s suwciént ·! ¥·°>‘¥‘<s<lekem_ all its gutstiuding circulation. The Treasurer shall < t·m·ute dtxplimte receipts for monéy thus dep0 sited,_ and dc- < » liverhone to the amclatilcia and the other Comptroller `s · r
anno Bagvztzesg § 192 at the Cnrrencgstating the smonnt received by him, and the gmrpose for which it has been received; and the money shall oe paid into the Ti·eosm#y.of the United States, and placed to
- he credit of such association upon redemption account;. (R. S;
§t5222·) , ‘ E . ·` . 18:4, Exemption as to an association consolidating with another;-g——A11’as&>ciatit»n which is in good faith winding; np its ousiness for the purpose og consolidating with another asso
- ·ia'tion· shall not-be required to deposit lawful money lfor its`
mtstanding circulation; but its assets and liabilities shall be ceported by the association with whieh~ i-t is in process of consolioetion. (R. S. 5-$5223.) _ . · ,185. Reassignment. of bonés and redemptions of notes;-—· ¥Vh_€l'l€.V€I‘ a suiiicient deposit of lawful money to redeem the nntstantling ci1*<eulatio,n of an association prop;osing‘ to close its business has been ma®§ the bonds deposited by the association ’ tosecure polygon: of its notes shall be reassigned to it, in the manner [prescribed by section 1'Z0. ·And thereafter the RESO- jation and its sliareholtlers shall stand `tlischarged from all liabilities upon the circulating notes; and those notes shall be i redeemed at- the Treasnry oi the United States. Anil if any such panic shallfail to make the deposit xml talgzernn its bonds for thirty days ·after the expiration of the Emo specified, the Comptroller of the°_Cm·rency shall have `power. to sell the o bonds pledged for ythe eirqilotion of said bank, at pnblicanction in- New Yor;k Cit5}, and, afterlprovidingifor the retlemp- tion engl cancellation of saicfcireolation and the neoessarylexpensesl of the sale, to pay overt any balance remaining-to the bank or·its_ legzal representative. ‘ (R. S. `§ 5224; Feb. 18, 1875, 2. 80,’§ 1,.18 Stat. `32(L).! l . f — — . -· 186. Destmctfon¤`_of V redeemed notes.-——Whenever the Treesnrerhas redeemed any of thepotes of an awociation which has
- ·otmnenced_ to elose its ~afl'ait‘s untlef the hse preceding sections, he shall cause the notes to be ~mntiIated_ and charged
to the lretlemptiou account of the association; and"al1 notes so redeemed by the Tl’€&Sl11'€l‘·‘S]l&u, enery three months; he zertiiiéd iffand macerstetl in the manner prescribed in section? [24.* (R. S. § 5225 E Febl 27, 1877,_ c.· 69, 5 1,19 Stat,252.) i _RI§C.EIV_ERSHIP E X _•191. General L grounds for appointment of receiver.———¥Wlionever any national banking. association shall bégissolvetl, and its ` rights, privileges, and itanchises declared forfeited, as pre! scribed in section 94, onwlienevertany creditor of anynationnl banking association shall hate obtained a judgment against it in any COl1l‘t·0.f record; and made. application, accompanied by a` zettihcate from the clerk of the count stating that such judgment has been rendered and has remained unpaid for the space mf thirty days, or whenever the comfitroller .sl1all_hecon1e satis·· Sed of the insolvency of a national banking association, he may, tlfttlgllidl1€·€Xt1IIllU21l—l0Bt;,QfKS_§ff$1lI`S, in either case, apQ ooint ix resolver whoshall proceed to close up sncli association, ind enforise the personal liability of the sl1areliolders,` as pico-i vided in section 192.. (Jugle.30; 1S?6, c. 156, § 1,_ 19 Stat. 63,) Enforcement ot sharel1ol•;lers’ jnclividpal liability by cretfltots on iquidotion; see section Boot this title. _ · _ ‘ 192; Default ingayinent of circulating notes.·—0n becoming satlstied, as specified in sections 131 and 132, that any assoeia- ` don has refused to pay its cifcnlating, notes as therein men-—
- ioned,· and is in default, the Comptroller of the Currency may-· . i
forthwith appoint a recelventand require of hi1n·snx‘:h bond and ` security as-he deems, proper. Such receivc1·,··under the ,direc¢» tion ot the comptroller. shall take possession of the books, records, and assets of every~»deseri;1tioln of such, association, collect all debts, dues, and claims belonging to it, and, upon the glider of a court .of·record ot competent jnsisdiction, may mil o1·_» zompound all batl or doubtful debts; and, on a like orderi may wil all the real anclpcrsonal property of suchassociation, on
