Page:United States Statutes at Large Volume 13.djvu/139

 THlB.TY—EIGHTH CONGRESS. Sess. I. Ch. 106. 1864. 111 association, on which interest is past due and unpaid for a period of six d lVh=gE°;>° months, unless the same shall be well secured, and shall be in process of dgmf a collection, shall be considered bad debts within the meaning of this act: Provided, That nothing in this section shall prevent the reduction of the capital stock of the association under the thirteenth section of this act. Sec. 39. And be it further enacted, That no association shall at any Associations time pay out on loans or discounts, or in purchasing drafts or bills of ;’;’:t;?ul:*:g1§‘i exchange, or in payment of deposits, or in any other mode pay or put in ` circulation the notes of any bank or banking association which shall not, at any such time, be receivable, at par, on deposit and in payment of debts by the association so paying out or circulating such notes; nor shall it knowingly pay out or put in circulation any notes issued by any bank or banking association which at the time of such paying out or putting in circulation is not redeeming its circulating notes in lawful money of the United States. Sec. 40. And be it fisrlher enacted, That the president and cashier of Listqf names every such association shall cause to be kept at all times a full and correct :§£r;;:Q%g‘_;€fo°f list of the names and residences of all the shareholders in the association, bg kept; and the number of shares held by each, in the office where its business is transacted ; and such list shall be subject to the inspection of all the share- _ *0 b°_S¤l>5€°**° holders and creditors of the association, and the officers authorized to mSp°°n°m assess taxes under state authority, during business hours of each day in which business may be legally transacted; and a copy of such list, on the first Monday of July in each year, verified by the oath of such pres- to bs wit *0 ident or cashier, shall be transmitted to the comptroller of the currency. °°mP"°“°r‘ Sec. 41. And be it farther enacted, That the plates and special dies Comptmlmto to be procured by the comptroller of the currency for the printing of such keep control or circulating notes shall remain under his control and direction, and the mss and SP*°'*‘l expenses necessarily incurred in executing the provisions of this act ` respecting the procuring of such notes, and all other expenses of the Expenses to be bureau, shall be paid out of the proceeds of the taxes or duties now or g‘;;‘;° by “"°°’“' hereafter to be assessed on the circulation, and collected from associations ` organized under this act. And in lieu of all existing taxes, every association shall pay to the treasurer of the United States, in the months of January and July, a duty of one half of one per centum each half year Duty uuuu ug,. from and after the first day of January, eighteen hundred and sixty-four, Culqtivn, ds- _ upon the average amount of its notes in circulation, and a duty of one {’;,S::;c3{;“€0°:§" quarter of one per centum each half year upon the average amount of its paid senii—andeposits, and a duty of one quarter of one per centum each half year, as Wl"}'- aforesaid, on the average amount of its capital stock beyond the amount invested in United States bonds; and in case of default in the payment thereof by any association, the duties aforesaid may be collected in the manner provided for the collection of United States duties of other cor- How c0]]gc[gd’ porations, or the treasurer may reserve the amount of said duties out of if not paid in the interest, as it may become due, on the bonds deposited with him by U""' such defaulting association. And it shall be the duty of each association, within ten days from the first days of January and July of each year, to make a remrn, under the oath of its president or cashier, to the treasurer Retin-n of eirof the United States, in such form as he may prescribe, of the average gglxx &°·» *° amount of its notes in circulation, and of the average amount of its cle- ` posits, and of the average amount of its capital stock, beyond the amount invested in United States bonds, for the six months next preceding said first days of January and July as aforesaid, and in default of such return, pe,,,,,,, ,-0,. dg and for each default thereof; each defaulting association shall forfeit and pay fault. to the United States the sum of two hundred dollars, to be collected either out_of the interest as it may become due such association on the bonds deposited with the treasurer, or, at his option, in the manner in which penalties are to be collected of other corporations under the laws of the United States; and in case of such default the amount of the duties to be