Page:United States Statutes at Large Volume 108 Part 3.djvu/542

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108 STAT. 2294 PUBLIC LAW 103-325—SEPT. 23, 1994 (A) in the 1st section (12 U.S.C. 121a)— (i) by striking "whenever any national-bank notes, Federal Reserve bank notes," and inserting "whenever any Federal Reserve bank notes"; and (ii) by striking ", and the notes, other than Federal Reserve notes, so redeemed shall be forwarded to the Comptroller of the Currency for cancellation and destruction"; and (B) in section 2 (12 U.S.C. 122a)— (i) by striking "National-bank notes and"; and (ii) by striking "national-bank notes and". (9) The 1st section of the Act entitled "An Act making appropriations for sundry civil expenses of the Government for the fiscal year ending June thirtieth, eighteen hundred and seventy-six, and for other purposes." and approved March 12 USC 106. 3, 1875, is amended in the 1st paragraph which appears under the heading "NATIONAL CURRENCY" by striking "Secretary of the Treasury: Provided, That" and all that follows through the period and inserting "Secretary of the Treasury.". (10) The Act entitled "An Act to simplify the accounts of the Treasurer of the United States, and for other purposes." and approved October 10, 1940 (12 U.S.C. 177a) is amended by striking all after the enacting clause and inserting the following: "That the cost of transporting and redeeming outstanding national bank notes and Federal Reserve bank notes as may be presented to the Treasurer of the United States for redemption shall be paid from the regular annual appropriation for the Department of the Treasury.". (11) Section 5234 of the Revised Statutes (12 U.S.C. 192) is amended by striking "has refused to pay its circulating notes as therein mentioned, and". (12) Section 5236 of the Revised Statutes (12 U.S.C. 194) is amended by striking ", after full provision has been first made for refunding to the United States any deficiency in redeeming the notes of such association". (13) Section 5238 of the Revised Statutes (12 U.S.C. 196) is amended by striking the 1st sentence. (14) Section 5119(b)(2) of title 31, United States Code, is amended by adding at the end the following: "The Secretary shall not be required to reissue United States currency notes upon redemption.". (h) AMENDMENTS TO OUTDATED DIVIDEND PROVISIONS.— (1) WITHDRAWAL OF CAPITAL. — Section 5204 of the Revised Statutes (12 U.S.C. 56) is amended— (A) in the 2d sentence, by striking "net profits then on hand, deducting therefrom its losses and bad debts" and inserting "undivided profits, subject to other applicable provisions of law"; and (B) by striking the 3d sentence. (2) DECLARATION OF DIVIDENDS.— Section 5199 of the Revised Statutes (12 U.S.C. 60) is amended— (A) in the 1st sentence, by striking "net profits of the association" and inserting "undivided profits of the association, subject to the limitations in subsection (b),"; (B) by striking "net profits" each subsequent place such term appears and inserting "net income"; and (C) by striking subsection (c).