112 THIRTYAEIGHTH CONGRESS. Sess. I. Ch. 106. 1864. paid by such association shall be assessed upon the amount off notes de— livered to such association by the comptroller of the currency, and upon the highest amount of its deposits and capital stock, to be ascertained in gum not such other manner as the treasurer may doom best: Prooided, That mth. hgebv éxeynpted ing in this act shall be construed to prevent all the shares m any of the said nom taxation by associations, held by any person or body corporate, from being included °°“° ““°‘°"°Y‘ in the valuation or the personal property of such person or corporation in the assessment of taxes imposed by or under state authority at the place where such bank is located, and not elsewhere, but not at a greater rate than is assessed upon other moneycd capital in the hands of individual Limit of state citizens ofsucb state : Provided, fwrtlwr, That the tax so imposed under
- ”‘· the laws of any state upon the shares of any of the associations authorized
by this act shall not exceed the rate imposed upon the shares in any of the banks organized under authority of the state where such association Realestate to is located: Provided, also, That nothing in this act shall exempt the real b° t¤X°d· estate of associations from either state, county, or municipal taxes to the same extent, according to its value, as other real estate is taxed. How mom, _ Sec. d2. .And be farther enacted, That any association nxay go tions may be mto liquidation and be closed by the vote of ICS shareholders owning two °l°S¢d· thirds of its stock. And whenever such vote shall be taken it shall be the duty of the board of directors to cause notice of this fact to be certified, under the seal of the association, by its president or cashier, to the Proceedings. comptroller of the currency, and publication thereof to be made for a period of two months in a newspaper published in the city of New York, and also in a newspaper. published in a city or town in which the association is located, and if no newspaper be there published, then in the newspaper published nearest thereto, that said association is closing up its affairs, and notifying the holders of its notes and other creditors to present the notes and other claims against the association for payment. And at any time after the expiration of one year from the time of the publication of such notice as aforesaid, the said association maypay over to the treasurer of the United States the amount of itroutstanding notes in the lawful money of the United States, and take up the bonds which said association has on deposit with the treasurer for the security of its circulating notes; which bonds shall be assigned to the bank in the manner specified in the nineteenth section of this act, and from that time the outstanding notes of said association shall be redeemed at the treasury of the United States, and the said association and the shareholders thereof shall be discharged from all liabilities therefor. T’°”“"°"l” S1:0. 43. And be it further enacted, That the treasurer, on reoeivino execute duplicate f . . . .'° ,,,,,,,ipL,_ rom an associauon lawful money for the payment and redemptnon of 1ts outstanding notes, as provided for in the preceding section of this act, shall execute duplicate receipts therefor, one to the association and the other to the comptroller of the currency, stating the amount received by him, and the purpose for which it has been received, which amount shall be paid into the treasury of the United States, and placed to the credit Renamed of such association upon redemption account., And it shall be the duty notes to be mu- of the Jreasurer, whenever he shall redeem any of the notes of said asso- “l‘“’°d· &°· ciation, to cause the same to be mutilated, and charged to the redemption account of said association; and all notes so redeemed by the treasurer shall, every three months, be certified to and burned in the manner pre- Sme banks scribed in the twenty-fourth section of this act. · maybmmc mr Src. 44. And be ot zfizrtfzerlenrzcted, That any bank incorporated by tional wd,. special lavy, or any banking institution organized under a general law of tions- any state, may, by authority of this act, become a national association under its provisions, by the nauie prescribed in its organization certificate; and in such case the articles of association and the organization certificate required by this act may be executed by a majority of the directors of the bank or banking institution; and said certificate shall de-
