Amendment to Section 5210 of Revised Statutes: Hearing Before ... 83-1 on H.R. 4004 ... , March 18, 1953

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Page 9 - That the president and cashier of every such association shall cause to be kept at all times a full and correct list of the names and residences of all the shareholders in the association, and the number of shares held by each, in the office where its business is transacted...
Page 19 - That not less than six months prior to such date, such association shall have caused notice of such prospective termination of liability to be published in a newspaper published in the city, town, or county in which such association is located, and if no newspaper is published in such city, town, or county, then in a newspaper of general circulation therein. If the association...
Page 19 - ... notice thereof in all cases having been given in a newspaper published in the city, town or county in which the association is located; and if no newspaper is published in such city, town or county, such notice shall be published in a newspaper published nearest thereto.
Page 19 - ... deposits received while it is in the hands of the conservator and with respect to the use of such deposits to liquidate the indebtedness of such bank shall no longer be effective: Provided, That before the conservator shall turn back the affairs of the bank to its board of directors he shall cause to be published in a newspaper published in the city, town or county in which such bank is located, and if no newspaper is published in such city, town or county, in a newspaper to be selected by the...
Page 19 - Such additional liability shall cease on July 1, 1937, with respect to all shares issued by any association which shall be transacting the business of banking on July 1, 1937 : Provided, That not less than six months prior to such date, such association shall have caused notice of such prospective termination of liability to be published in a newspaper published in the city, town, or county in which such association is located, and if no newspaper is published in such city...
Page 19 - The additional liability imposed upon shareholders in national banking associations by the provisions of section 5151 of the Revised Statutes, as amended, and section 23 of the Federal Reserve Act, as amended (USC, title 12, sees. 63 and 64), shall not apply with respect to shares in any such association issued after the date of enactment of this Act.
Page 1 - ... act of December 23, 1913 (12 USC 64). However, in section 22 of the Banking Act of 1933, as amended by section 304 of the Banking Act of 1935 (12 USC 64a), the double liability imposed upon the shareholders of national banking associations was eliminated with respect to all shares issued after June 16, 1933, and provision was made for the elimination of double liability on shares issued prior to that date. All but a few national banking associations have taken the necessary steps to eliminate...
Page 1 - ... of the Revised Statutes. The last sentence of section 5210 of the Revised Statutes (12 USC 62), which would be deleted by the proposed bill, provides that every national banking association shall transmit annually to the Comptroller of the Currency, a verified copy of the list of its shareholders. The original purpose of this provision was to enable the Comptroller to know who were the shareholders of the association in the event it became necessary to assess them with the double liability provided...

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