THIRTY-EIGHTH CONGRESS. Sess. I. Ch. 106. 1864. 118 clare that the owners of two thirds of the capital stock have authorized the directors to make such certificate and to change and convert the said bank or banking institution into a national association `under this act. And a majority of the directors, after executing said articles of associa- gI°d° °*` P'°‘ tion and organization certidcate, shall have power to execute all other °° m' papers, and to do whatever may be required to make its organization perfect and complete as a national association. The shares of any such bank may continue to be for the same amount each as they were before said conversion, and the directors aforesaid may be the directors of the association until others are elected or appointed in accordance with the provisions of this act; and any state bank which is a 'stockholder in any other bank, by authority of state laws, may continue to hold its stock, although either bank, or both, may be organized under and have accepted the provisions of this act. When the comptroller shall give to such association a certificate, under his hand and oilficial seal, that the provisions of this act have been complied with, and that it is authorized to commence the business of banking under it, the association shall have the same powers and privileges, and shall be subject to the same duties, responsibilities, and rules, in all respects as are prescribed in this act for other associations organized under it, and shall be held and regarded as an association under this act: Provided, however, That no such association shall have a less capital than the amount prescribed for banking associations under this act. Sec. 45. And be it further enacted, That all associations under this Associations, act, when designated for that purpose by the Secretary of the Treasury, wheié so desigshall be depositaries of public money, except receipts from customs, under g:;,$,S{,l:,.?,{Ll;°§ such regulations as may be prescribed by the Secretary; and they may public moneys, also be employed as nnancial agents of the government; and they shall °X°°P*· &°·¥ perform all such reasonable duties, as depositaries of public moneys and _111==1Yl1¢ 611**1- nnancial agents of the government, as may be required of them. And ml °g°°tS' the Secretary of the Treasury shall require of the associations thus Designated dg_ designated satisfactory security, by the deposit of United States bonds positariestopay and otherwise, for the safe—keeping and prompt payment of the public P'°"*P*lY? money deposited with them, and for the faithful performance of their duties as financial agents of the government: Provided, That every association which shall be selected and designated as receiver or deposi- to receive m,. tary of the public money shall take and receive at par all of the national Siam °1-11T°¤¤5' currency bills, by whatever association issued, which have been paid in I Saipan to the government for internal revenue, or for loans or stocks. Sec. 46. And be itfurllzer enacted, That if any such association shall f if ¤¤S<1¢1¤¤<>11¤ at any time fail to redeem, in the lawful money of the United States, any tigfzffguiirgon, of ita circulating notes, when payment thereof shall be lawfully demanded, the notes may be during the usual hours of business, at the office of such association, or at §;’_t°“°d» “"1*’“· its place of redemption aforesaid, the holder may cause the same to be protested, in one package, by a notary—public, unless the president or cashier of the association whose notes are presented for payment, or the president or cashier of the association at the place at which they are redeemable, shall offer to waive demand and notice of the protest, and Ngace of ,-0. shall, in pursuance of such offer, make, sign, and deliver to the` party Emi &¤·, whs making such demand an admission in writipfg, stating the time of the cltgtfoiitg demand, the amount demanded, and the fact the non-payment thereof; and such notary-public, on making such protest, or upon receiving such admission, shall forthwith forward such admission or notice of protest to the comptroller of the currency, retaining a copy thereof And after such Association not default, on examination of the facts by the comptroller, and notice by him gg;;";?:? to the association, it shall not be lawful for the association suffering the gw_Pt' same to pay out any of its notes, discount any notes or bills, or otherwise prosecute the business of banking, except to receive and safely keep money belonging to it, and :0 deliver special deposites: Provided, That if 10
