Study of Banking Laws: Legislative Recommendations of the Federal Supervisory Agencies to the Committee on Banking and Currency, United States Senate

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U.S. Government Printing Office, 1956 - Banking law - 212 pages
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Contents

Unearned dividends
18
Increase of capital by vote of shareholders 15 Cumulative voting in the election of national bank directors
21
Reserves required by holding company affiliates
23
Shareholders lists 18 Shareholders individual liability
24
Shareholders individual liability upon liquidation 20 Election of national bank directors
26
Removed director or officer voting stock
27
Liabilities of national banks under Reconstruction Finance Cor poration
28
84
29
Exceptions to 10 percent limit on obligations 24 Exception to 10 percent limitation on obligations covering dairy cattle
32
Loans secured by obligations of the United States
33
Banking facilities at military posts
34
Reserves of national banks outside the United States
35
Reports made to the Comptroller of the Currency
36
Report of dividends and net earnings
37
Shareholder approval of sale of assets in voluntary liquidation
38
Personal liability of shareholders in receivership
39
FDIC as receiver of national bank
40
Appointment of conservators
42
Trust activities of national banks
46
Limitations on real estate loans_
49
Deposits by persons or corporations not supervised by any State authority
52
Contributions by the FDIC and the Federal Reserve Board to the Comptroller
53
Furnishing confidential information to Federal intermediate credit banks
55
National agricultural credit corporations 40 Bonds of Home Owners Loan Corporation as lawful investments 41 Acting Comptroller of the Currency ...
56
Mergers or consolidations by insured banks
57
Use of certain words as part of business name
59
National bank examination reports privileged against disclosure
62
Merged or consolidated bank as branch office_ 45A Administration of pension profitsharing and employee wel fare or benefit funds of employees o...
63
46
65
Subscription by national banks to Federal Reserve bank stock
67
Liability incident to ownership of Federal Reserve bank stock
68
49
69
Original organization of Reserve banks
70
Federal Reserve bank directors residents of district
72
52
74
53
75
Payment of Reserve bank earnings to Treasury
77
55
79
56
80
57
81
Reports from member banks
82
59
83
Stock acquisitions in connection with absorptions
84
Obsolete provisions regarding Federal Reserve Board members
85
63
87
Federal Reserve branch buildings
88
Advances to groups of member banks
89
Simple majority for all Board actions
90
Fiscal agency operations of Reserve banks
92
Incorrect reference to section 20 of the Federal Reserve
93
Revocation of trust powers of national banks 70 References to bonds issued under Home Owners Loan Act and IIIIIIII bonds of Federal Farm Mortg...
94
References to national agricultural credit corporations
95
Repurchase agreements of Federal Reserve banks 73 Settlement fund
96
Federal Reserve notes
97
Federal Reserve banknotes
104
Obsolete provision regarding reserve requirements
105
Payment of interest on deposits
106
Interest on demand deposits of savings banks and of public funds
107
Reserves against deposits of public moneys
108
Obsolete provision as to loans to executive officers of member banks 81 Loans to executive officersdollar exemption
109
Transferred deposit as payment of insured deposit in a closed bank
122
Definition of branch 94 Insurance of deposits in national banks
123
Change of term thorough examination to examination 96 Maintenance of assessment records 97 Assessment credits 98 Limitation on actions for asse...
124
98
126
102
131
Immunity from prosecution
132
Certification of records
133
106
134
108
136
109
139
111
140
112
141
113
143
Regulation of bank mergers
144
Loans to examiners of the Corporation
145
Letter of transmittal
147
Federal Home Loan Bank Act
148
117
151
119
153
120
154
122
155
123
159
124
161
125
162
127
165
Interbank transactions of Federal home loan banks
166
130
167
Eligibility of Federal home loan bank personnel as director
168
Exemption from taxation
169
Eligibility of bank obligations as investments iiiii
170
The Federal Home Loan Bank Board
171
Expenses of the Board and assessments on the banks
173
Powers and duties of examiners_
174
Interagency services
175
Territorial applicability of act
176
Home Owners Loan Act of 1933
177
Interest rate and charges of Federal savings and loan associations
178
Investments by Secretary of the Treasury in Federal savings and loan associations
184
Conversions
186
Promotion of savings and loan associations
188
of National Housing Act 149 References to Home Loan Bank Board
189
Insured accounts of public units
190
Federal Savings and Loan Insurance Corporation
191
Capital stock of Insurance Corporation
192
signia
194
Regulation of insured institutions
195
Applications for insurance
196
Premium adjustments
197
Excess premiums previously paid
198
Termination of insured status
201
Criminal Provisions 164 Commissions or gifts for procuring loans
204
Embezzlement and similar misconduct
205
False entries and other false or fraudulent conduct
206
Letter of transmittal
207
Membership of supervisory committee
208
Clerical and auditing assistance for supervisory committee
209
Maximum size of loans unsecured loan limit and loan officer
210
Section 19 of act
211
Robbery of a Federal credit union
212

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Page 24 - The shareholders of each association formed under the provisions of this act, and of each existing bank or banking association that may accept the provisions of this act, 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 5 - 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 26 - ... 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 148 - ... means such classes of first liens as are commonly given to secure advances on, or the unpaid purchase price of, real estate, under the laws of the State In which the real estate Is located, together with the credit instruments, if any, secured thereby.
Page 39 - 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 sucu association,...
Page 18 - 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 28 - Whoever violates any of the provisions of this subsection shall, upon conviction, be fined not more than $5,000, or imprisoned for not more than five years, or both. (d) The term "person" as used in this section means an individual partnership, corporation or association.
Page 177 - ... 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 91 - April 24, 1917, or certificates of indebtedness of the United States, Treasury bills of the United States, or obligations fully guaranteed both as to principal and interest by the United States...
Page 21 - ... every stockholder shall have the right to vote in person or by proxy the number of shares owned by him...

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