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PUBLIC LAW 86-230-SEPT. 8, 1959
[73 S T A T.
thirds of the shares, at least ten days' notice thereof in all cases having been given by first-class mail to the shareholders."' 61 Stat. 202. gj,(. j Q Section 5202 of the Revised Statutes (12 U.S.C. 82) is L amended by striking out the paragraph designated "Sixth" and inserting in lieu thereof the following: ^2 ^xj*s c'Uii "Sixth. Liabilities incurred under the provisions of the Federal "°t«Deposit Insurance Act." SEC. 11. The second sentence of section 5211 of the Revised Statutes (12 U.S.C. 161) is amended by striking out "five" and inserting in lieu thereof "ten". SEC. 12. Section 5213 of the Revised Statutes (12 U.S.C. 164) is amended by striking out "either of the two preceding sections" and inserting in lieu thereof "section 6211 of the Revised Statutes". vou*ngma'jorit1r!'^' SEC. 13. Exccpt as otherwisc specifically provided by law, or by the articles of association of the particular national banking association, the articles of association of a national banking association may be amended with respect to any lawful matter, and any action requiring . the approval of the stockholders of such association may be had by the approving vote of the holders of a majority of the voting shares of the stock of the association obtained at a meeting of the stockholders called and held pursuant to notice given by mail at least ten days prior to the meeting or pursuant to a waiver of such notice given by all stockholders entitled to receive notice of such meeting. A certified copy of every amendment to the articles of association adopted by the shareholders of a national banking association shall be forwarded to the Comptroller of the Currency, to be filed and preserved in his office. SEC. 14. The provisions of all Acts of Congress relating to national banks shall apply in the several States, the District of Columbia, the several Territories and possessions of the United States, and the Commonwealth of Puerto Rico. SEC. 15. Section 5220 of the Revised Statutes (12 U.S.C. 181) is amended by adding after the first sentence the following new sentence: "If the liquidation is to be effected in whole or in part through the sale of any of its assets to and the assumption of its deposit liabilities by another bank, the purchase and sale agreement must also be approved by its shareholders owning two-thirds of its stock unless an emergency exists and the Comptroller of the Currency specifically waives such requirement for shareholder approval." SEC. 16. Section 1 of the Act of June 30, 1876 (ch. 156, 19 Stat. 63; 12 U.S.C. 191), is amended by striking out ", and enforce the personal liability of the shareholders, as provided in section fifty-two hundred thirty-four of said statutes". SEC. 17. The second sentence of section 5234 of the Revised Statutes (12 U.S.C. 192) is amended by striking out the semicolon after the word "direct" and all that follows and inserting in lieu thereof a period. Receiverships. g^^^. j^g Section 3 of the Act of Juue 30, 1876 (ch. 156,19 Stat. 63; 12 U.S.C. 197), is amended to read as follows: "Si<x\ 3. (a) Whenever any national banking association shall have been or shall be placed in the hands of a receiver, as provided in sec12 USC 192. Qj^ fifty-two hundred and thirty-four and other sections of the Re64 Stat. 884. yiscd Statiites of the Ignited States and section 11(c) of the Federal 12 USC 1821. Deposit Insurance Act, and when, as provided in section fifty-two 12 'u" " 194. ' " s e *"' hundred and thirty-six of the Revised Statutes of the United States, there has been paid to each and every creditor of such association whose claim or claims as such creditor shall have been proved or allowed as therein prescribed, the full amount of such claims, and all expenses of the receivership, the Comptroller of the Currency or the Federal Deposit Insurance Corporation, where that Corporation has been appointed receiver of the bank, shall call a meeting of the share-
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