Amendments to Federal Deposit Insurance Act, Hearing Before a Subcommittee of ..., 81-2 on S. 80, S. 2094, S. 2300 ..., January 11, 23, and 30, 1950
1950 - 150 pages
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accounts addition agencies amended amount assessment assessment base assets association authority average Bankers believe bill billion Board of Directors building capital cash Chairman closed committee Comptroller Congress considered coverage covered Currency Deposit Insurance Corporation depositors determined dividend dollars effect examination expenses experience fact FDIC Federal Deposit Insurance Federal Reserve Board Federal Reserve System figure follows fund further give Government HARL hearings important income increase insured bank insured deposits interest less liabilities limit liquidation loans losses matter means member banks ment mutual national banks necessary objection operating paid payment percent period position present proposed protection question reason receiver record reduce respect securities Senator DOUGLAS Senator MAYBANK Senator ROBERTSON situation SNYDER statement suggested surplus term tion Treasury United WIGGINS
Page 10 - Board, its member, agent, or agency, there to produce evidence if so ordered, or there to give testimony touching the matter under investigation or in question ; and any failure to obey such order of the court may be punished by said court as a contempt thereof.
Page 15 - The Corporation, including its franchise, its capital, reserves, and surplus, and its income shall be exempt from all taxation now or hereafter imposed by the United States, by any Territory, dependency, or possession thereof, or by any State, county, municipality, or local taxing authority...
Page 15 - Any and all notes, debentures, bonds or other such obligations issued by the corporation shall be exempt both as to principal and Interest from all taxation (except surtaxes, estate, inheritance, and gift taxes) now or hereafter imposed by the United States, by any territory, dependency or possession thereof, or by any state, county, municipality or local taxing authority.
Page 10 - ... and any failure to obey such order of the court may be punished by such court as a contempt thereof. All process in any such case may be served in the judicial district whereof such person is an inhabitant or wherever he may be found.
Page 10 - Board, there to produce records, if so ordered, or to give testimony touching the matter under investigation or in question; and any failure to obey such order of the court may be punished by such court as a contempt thereof.
Page 9 - Third. To make contracts. Fourth. To sue and be sued, complain and defend, in any court of law or equity.
Page 10 - ... who shall have power to make a thorough examination into all the affairs of the association, and, in doing so, to examine any of the officers and agents thereof on oath, and shall make a full and detailed report of the condition of the association to the Comptroller...
Page 9 - ... no attachment, injunction, or execution, shall be issued against such association or its property before final judgment in any suit, action, or proceeding, in any State, county, or municipal court.