Instructions of the Comptroller of the Currency Relative to the Organization and Powers of National Banks |
From inside the book
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Page 10
... majority of the applicants are not interested in the bank as shareholders, a new application will be required. The organization certificate should be executed at the same time as the articles of association or subsequent thereto. The ...
... majority of the applicants are not interested in the bank as shareholders, a new application will be required. The organization certificate should be executed at the same time as the articles of association or subsequent thereto. The ...
Page 7
... majority of the directors should be residents of the place where the bank is located . To avoid delay and unnecessary letter writing all correspondence relating to official matters should be conducted by the local corre- spondent ...
... majority of the directors should be residents of the place where the bank is located . To avoid delay and unnecessary letter writing all correspondence relating to official matters should be conducted by the local corre- spondent ...
Page 10
... majority of the applicants are not interested in the bank as shareholders , a new application will be required . The organization certificate should be executed at the same time as the articles of association or subsequent thereto . The ...
... majority of the applicants are not interested in the bank as shareholders , a new application will be required . The organization certificate should be executed at the same time as the articles of association or subsequent thereto . The ...
Page 11
... majority of the undersigned shareholders may direct . 9 Fourth . The regular annual meetings of the shareholders for the election of directors shall be held at the banking house of this association on the second Tuesday of January of ...
... majority of the undersigned shareholders may direct . 9 Fourth . The regular annual meetings of the shareholders for the election of directors shall be held at the banking house of this association on the second Tuesday of January of ...
Page 12
... majority of whom shall be a quorum to do business , shall elect one of its members president of this association , who shall hold his office ( unless he shall be disqualified , or be sooner removed by a major- ity vote of the board ) ...
... majority of whom shall be a quorum to do business , shall elect one of its members president of this association , who shall hold his office ( unless he shall be disqualified , or be sooner removed by a major- ity vote of the board ) ...
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Common terms and phrases
agent or committee amended amount application approved articles of association assets authorized bank is located bank or member banking house bills of exchange board of directors bonds branch banks broker or agent capital and surplus capital stock cash cent centum charter CHIG UNIVE circulating notes Comptroller consolidation corporate existence court Currency deposits discount district dividend drafts or bills employee examiner Federal reserve act Federal reserve bank Federal Reserve Board GAN UNIVE held hereby certify issued liabilities liquidating agent meeting member bank MIC UNIV MICHIG national banking association Notary Public notice number of shares organization certificate paid payment permit person powers prescribed President or Cashier provisions of section proxy purchase real estate receive regulations resolution Revised Statutes SEAL OF BANK shareholders signatures SITY stockholders thereof tion Total number transactions trust company undersigned UNIV GAN UNIV RSITY violation
Popular passages
Page 83 - The taking, receiving, reserving, or charging a rate of interest greater than is allowed by the preceding section, when knowingly done, shall be deemed a forfeiture of the entire interest which the note, bill, or other evidence of debt carries with it, or which has been agreed to be paid thereon.
Page 84 - No association shall make any loan or discount on the security of the shares of its own capital stock, nor be the purchaser or holder of any such shares, unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith...
Page 83 - The total liabilities to any association, of any person, or of any company, corporation, or firm for money borrowed, including in the liabilities of a company or firm the liabilities of the several members thereof, shall at no time exceed onetenth part of the amount of the capital stock of such association actually paid in.
Page 117 - Currency shall be authorized and empowered to grant by special permit to national banks applying therefor, when not in contravention of State or local law, the right to act as trustee, executor, administrator, registrar of stocks and bonds, guardian of estates, assignee, receiver, committee of estates of lunatics, or in any other fiduciary capacity...
Page 85 - No association, or any member thereof, shall, during the time it shall continue its banking operations, withdraw, or permit to be withdrawn, either in the form of dividends or otherwise, any portion of its capital.
Page 35 - Each director, when appointed or elected. shall take an oath that he will, so far as the duty devolves on him, diligently and honestly administer the affairs of such association...
Page 128 - Upon the indorsement of any of its member banks, which shall be deemed a waiver of demand, notice and protest by such bank as to its own indorsement exclusively, any Federal reserve bank may discount notes, drafts, and bills of exchange arising out of actual commercial transactions...
Page 88 - If the directors of any national banking association shall knowingly violate, or knowingly permit any of the officers, agents, or servants of the association to violate any of the provisions of this title, all the rights, privileges, and franchises of the association shall be thereby forfeited.
Page 108 - State thereof, and principally engaged in international or foreign banking, or banking in a dependency or insular possession of the United States either directly or through the agency, ownership, or control of local institutions in foreign countries, or in such dependencies or insular possessions.
Page 129 - Notes, drafts, and bills admitted to discount under the terms of this paragraph must have a maturity at the time of discount of not more than ninety days...