Study of Banking Laws: Hearings Before the United States Senate Committee on Banking and Currency, Eighty-Fourth Congress, Second Session, on Nov. 9, 10, 1956, Parts 1-2 |
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Page 4
... issued October 12 , 1956 . The National Bank Act represents legislation of long standing , of clear purpose , and of great value . It has proved to be an excellent statute , and the national banks which operate under it are a very im ...
... issued October 12 , 1956 . The National Bank Act represents legislation of long standing , of clear purpose , and of great value . It has proved to be an excellent statute , and the national banks which operate under it are a very im ...
Page 6
... issued a ruling to the effect that national banks need not obtain a license under the New York statute . Other States , however , have not recognized the unconstitutionality of their laws as applied to national banks and we believe it ...
... issued a ruling to the effect that national banks need not obtain a license under the New York statute . Other States , however , have not recognized the unconstitutionality of their laws as applied to national banks and we believe it ...
Page 19
... issued under authority of the Federal Farm Loan Act , as amended , or issued by the thirteen banks for cooperatives or any of them or the Federal Home Loan Banks or the Home Owners ' Loan Corporation . * * * . Title 12 , U. 8. C. , sec ...
... issued under authority of the Federal Farm Loan Act , as amended , or issued by the thirteen banks for cooperatives or any of them or the Federal Home Loan Banks or the Home Owners ' Loan Corporation . * * * . Title 12 , U. 8. C. , sec ...
Page 22
... issued his certificate of approval of the same . Recommendation Amend statute to eliminate the word " place " and substitute the word " loca- tion " and provide that no change in location of the main office within the limits of the city ...
... issued his certificate of approval of the same . Recommendation Amend statute to eliminate the word " place " and substitute the word " loca- tion " and provide that no change in location of the main office within the limits of the city ...
Page 28
... issued under this sentence shall be revoked upon the opening of a State or national bank in such community . Except as provided in the immediately preceding sentence , no such association shall establish a branch outside of the city ...
... issued under this sentence shall be revoked upon the opening of a State or national bank in such community . Except as provided in the immediately preceding sentence , no such association shall establish a branch outside of the city ...
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Popular passages
Page 34 - The shareholders of every national banking association shall be held individually responsible, equally and ratably, and not one for another, for all contracts, debts, and engagements of such association to the extent of the amount of their stock therein, at the par value thereof, in addition to the amount invested in such shares...
Page 20 - Seventh. To exercise by its board of directors, or duly authorized officers or agents, subject to law, all such incidental powers as shall be necessary to carry on the business of banking...
Page 253 - ... forfeiture ; but no individual shall be prosecuted or subjected to any penalty or forfeiture for or on account of any transaction, matter, or thing concerning which he is compelled, after having claimed his privilege against self-incrimination, to testify or produce evidence, except that such individual so testifying shall not be exempt from prosecution and punishment for perjury committed in so testifying.
Page 358 - 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 35 - ... in the hands of such executor, administrator, guardian or trustee, shall be liable in like manner, and to the same extent as the testator or intestate. or the ward or person interested in such trust fund would have been, if he had been living and competent to act, and held the same stock in his own name.
Page 44 - Such receiver, under the direction of the comptroller, shall take possession of the books, records, and assets of every description of such association, collect all debts, dues, and claims belonging to it, and, upon the order of a court of record of competent jurisdiction, may sell or compound all bad or doubtful debts, and, on a like order, may sell all the real and personal property of such association, on such terms as the court shall direct; and may, if necessary to pay the debts of such association,...
Page 368 - ... be set aside. A copy of such petition shall be forthwith served upon the commission or board, and thereupon the commission or board forthwith shall certify and file in the court a transcript of the record as hereinbefore provided.
Page 584 - Institutions and trust companies subject to regulation and examination by the Comptroller of the Currency or the Board of Governors of the Federal Reserve System, or the Federal Deposit Insurance Corporation.
Page 245 - Except as provided in paragraph (2), the term "bank" means any of the following: (A) An insured bank as defined in section 3(h) of the Federal Deposit Insurance Act. (B) An institution organized under the laws of the United States, any State of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands, which...
Page 42 - Each such report shall exhibit, in detail and under appropriate heads, the resources and liabilities of the association at the close of business on any past day by him specified; and shall be transmitted to the comptroller within five days after the receipt of a request or requisition therefor from him...