Act April 28,

tive, executive,

and

appropriation

L., 138.

banks, banking companies, and savings banks organized under the laws of the several States and Territories; such information to be obtained by the Comptroller from the reports made by such banks, banking companies, and savings banks to the legislatures or officers of the different States and Territories, and, where such reports can not be obtained, the deficiency to be supplied from such other authentic sources as may be available.

Fifth. The names and compensation of the clerks employed by him, and the whole amount of the expenses of the banking department during the year.

COMPTROLLER TO GIVE COMPLETE LIST OF ALL EM-
PLOYEES OF THE OFFICE, INFORMATION ABOUT
FAILED BANKS, EMPLOYEES, UNDER RECEIVERS,
ETC. ACT APRIL 28, 1902.

12.-Provided, That for the fiscal year of nineteen hun1902, legisla-dred and two and thereafter, a full and complete list of Judicial all officers, agents, clerks, and other employees of the act: 82 Stat. office of the Comptroller of the Currency, including bank examiners, receivers and attorneys for receivers, and clerks employed by such examiners and receivers, or any other person connected with the work of said office in Washington or elsewhere, whose salary or compensation is paid from the Treasury of the United States or assessed against or collected from existing or failed banks under their supervision or control, shall be transmitted to the Secretary of the Interior in accordance with the provisions of an Act of Congress approved January twelfth, eighteen hundred and eighty-five, relating to the Official Register: And provided further, That the Comptroller of the Currency is hereby directed to include in his Annual Report to the Speaker of the House of Representatives, expenses incurred during each year, in liquidation of each failed national bank separately.

Act Jan. 12,

28 Stat. L., 616.

NUMBER OF COPIES OF REPORT TO BE PRINTED. ACT
OF JANUARY 12, 1895.

* 13. Sec. 73.-*

* There shall be printed of the an1895, sec. 73;nual report of the Comptroller of the Currency, ten thousand copies; one thousand for the Senate, two thousand for the House, and seven thousand for distribution by the Comptroller of the Currency.

H. J. Res.

219, Mar. 4,

L., 1245.

THREE THOUSAND ADDITIONAL COPIES AUTHORIZED TO
BE PRINTED. JOINT RESOLUTION NO. 25, MARCH

4, 1907.

14. That section 73 of an act" Providing for the pub1907; 34 Stat: lic printing and binding, and the distribution of public documents," approved January 12, 1895, be, and the same is hereby, so amended as to authorize the printing annually hereafter of ten thousand copies of the annual report of the Comptroller of the Currency, for distribution by the Comptroller of the Currency, instead of seven thousand copies as heretofore.

CHAPTER II.

ORGANIZATION AND POWERS.

26. Act of July 12, 1882. Consent of 47. 5150. Election of president of the

15. Sec. 1.-An act entitled "An act to provide a national currency secured by a pledge of United States sec. 1; 18 bonds, and to provide for the circulation and redemption thereof," approved June 3, 1864, shall hereafter be known as "the national-bank act."

106,

1864, c. sec. 5; Stat. L., 100.

FORMATION OF NATIONAL BANKING ASSOCIATIONS.

Act June 3, 16. Sec. 5133.-Associations for carrying on the busi13 ness of banking under this Title may be formed by any number of natural persons, not less in any case than five. They shall enter into articles of association, which shall specify in general terms the object for which the association is formed, and may contain any other provisions, not inconsistent with law, which the association may see fit to adopt for the regulation of its business and the conduct of its affairs. These articles shall be signed by the persons uniting to form the association, and a copy of them shall be forwarded to the Comptroller of the Currency, to be filed and preserved in his office.

1864, c. 106.

REQUISITES OF ORGANIZATION CERTIFICATE.

Act June 3, 17. Sec. 5134. The persons uniting to form such an assec. 6; 13 sociation shall, under their hands, make an organization Stat. L, 101. certificate, which shall specifically state:

вес.

Act June 3, 1864, c. 106, вес. 6; Stat. L., 101.

First. The name assumed by such association; which name shall be subject to the approval of the Comptroller of the Currency.

Second. The place where its operations of discount and deposit are to be carried on, designating the State, Territory, or district, and the particular county and city, town, or village.

Third. The amount of capital stock and the number of shares into which the same is to be divided.

Fourth. The names and places of residence of the shareholders and the number of shares held by each of them.

Fifth. The fact that the certificate is made to enable such persons to avail themselves of the advantages of this Title.

NOTE. For authority to change names or locations see act May 1, 1886, following section 5136.

HOW CERTIFICATE SHALL BE ACKNOWLEDGED AND

FILED.

18. Sec. 5135.-The organization certificate shall be ac13 knowledged before a judge of some court of record, or notary public; and shall be, together with the acknowledgment thereof, authenticated by the seal of such court, or notary, transmitted to the Comptroller of the Curwho shall record and carefully preserve the same in his office.

Act June 3, 1864, c. 106,

CORPORATE POWERS OF ASSOCIATION.

19. Sec. 5136.-Upon duly making and filing articles of sec. 8; 13 association and an organization certificate, the associaStat. L., 101. tion shall become, as from the date of the execution of its organization certificate, a body corporate, and as such,

and in the name designated in the organization certificate, it shall have power

First. To adopt and use a corporate seal.

Second. To have succession for the period of twenty years from its organization, unless it is sooner dissolved according to the provisions of its articles of association, or by the act of its shareholders owning two-thirds of its stock, or unless its franchise becomes forfeited by some violation of law.

Tird. To make contracts.

Fourth. To sue and be sued, complain and defend, in any court of law and equity, as fully as natural persons. Fifth. To elect or appoint directors, and by its board of directors to appoint a president, vice-president, cashier, and other officers, define their duties, require bonds of them and fix the penalty thereof, dismiss such officers or any of them at pleasure, and appoint others to fill their places.

Sixth. To prescribe, by its board of directors, by-laws not inconsistent with law, regulating the manner in which its stock shall be transferred, its directors elected or appointed, its officers appointed, its property transferred, its general business conducted, and the privileges granted to it by law exercised and enjoyed.

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; by discounting and negotiating promissory notes, drafts, bills of exchange, and other evidences of debt; by receiving deposits; by buying and selling exchange, coin, and bullion; by loaning money on personal security; and by obtaining, issuing, and circulating notes according to the provisions of this Title.

But no association shall transact any business except such as is incidental and necessarily preliminary to its organization, until it has been authorized by the Comptroller of the Currency to commence the business of banking.

NOTE.-See secs. 5168, 5169 and 5170, pages 35, 36, post, relating to issuing and publishing of certificate authorizing association to begin business.

INCREASE OF CAPITAL STOCK. ACT MAY 1, 1886.

20. Sec. 1.

Relates to increase of capital stock and is inserted after section 5142, Revised Statutes.

MAY CHANGE NAME AND LOCATION; HOW. ACT MAY 1, 1886.

1886, C.

21. Sec. 2.-Any national banking association may Act May change its name or the place where its operations of dis- sec. 2; count and deposit are to be carried on, to any other place Stat. L., 18. within the same State, not more than thirty miles distant, with the approval of the Comptroller of the Currency, by the vote of shareholders owning two-thirds of the stock of such association. A duly authenticated notice of the vote and of the new name or location selected shall be sent to the office of the Comptroller of the

Act May 1, 1886, C. 73, вес.

3; Stat. L., 19.

Currency; but no change of name or location shall be valid until the Comptroller shall have issued his certificate of approval of the same.

DEBTS NOT AFFECTED BY CHANGE. ACT MAY 1, 1886. 22. Sec. 3.-All debts, liabilities, rights, provisions, and 24 powers of the association under its old name shall devolve upon and inure to the association under its new name. NO RELEASE FROM LIABILITIES. ACT MAY 1, 1886. Act May 1, 23. Sec. 4.-Nothing in this act contained shall be so 4; 24 construed as in any manner to release any national bankStat. L., 19. ing association under its old name or at its old location from any liability, or affect any action or proceeding in law in which said association may be or become a party or interested.

1886, C. 73,

sec.

1887, sec. 4;

554.

sec. 4; 25

NATIONAL BANKS DEEMED CITIZENS OF STATES IN
WHICH LOCATED. ACT AUGUST 13, 1888.

Act Mar. 3, 24. Sec. 4. All national banking associations estab24 Stat. Llished under the laws of the United States shall, for the Act Aug. 13, purposes of all actions by or against them, real, personal, 1888, c. 866, or mixed, and all suits in equity, be deemed citizens of Stat. L., 436. the States in which they are respectively located; and in such cases the circuit and district courts shall not have jurisdiction other than such as they would have in cases between individual citizens of the same State. The provisions of this section shall not be held to affect the jurisdiction of the courts of the United States in cases commenced by the United States or by direction of any officer thereof, or cases for winding up the affairs of any such bank.

Act July 12, 1882, c. 290,

sec.

1;

EXTENSION OF CORPORATE EXISTENCE. ACT JULY 12, 1882.

25. Sec. 1.-That any national banking association ori; 22 ganized under the acts of February twenty-fifth, eighteen Stat. L., 162. hundred and sixty-three, June third, eighteen hundred and sixty-four, and February fourteenth, eighteen hundred and eighty, or under sections fifty-one hundred and thirty-three, fifty-one hundred and thirty-four, fifty-one hundred and thirty-five, fifty-one hundred and thirty-six, and fifty-one hundred and fifty-four of the Revised Statutes of the United States, may, at any time within the two years next previous to the date of the expiration of its corporate existence under present law, and with the approval of the Comptroller of the Currency, to be granted, as hereinafter provided, extend its period of succession by amending its articles of association for a term of not more than twenty years from the expiration of the period of succession named in said articles of association, and shall have succession for such extended period, unless sooner dissolved by the act of shareholders owning two-thirds of its stock, or unless its franchise becomes forfeited by some violation of law, or unless hereafter modified or repealed.