Page:Treatise on Currency and Banking.djvu/345

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President of any banking association may execute bonds and mortgages to the comptroller, as security for circulating bills.

Fees for protest of circulating notes to be paid by the person at whose instance the protest is made—association to be liable therefor—but not the securities deposited.

Bankers and associations made liable to inspection and supervision of the bank commissioners.

Refusal to submit books and papers for examination or to be examined under oath, or any violation of law, subjects parties to the same proceedings as in the case of incorporated banks.

An additional bank commissioner appointed, to be paid out of interest of securities deposited.

Bodies corporate may receive and hold transferable shares in stocks of banking associations, the same as in other stocks.