Page:United States Statutes at Large Volume 13.djvu/143

 THIB.TY·EIGHTH CONGRESS. Sess. I. Ch. 106. 1864. 115 notes as therein mentioned, and is in default, the comptroller of the cur- C°mP*"9l{°' rency may forthwith appoint a receiver, and require of him such bond ;2Z,lQ:gp:jnc;:“ and security as he shall deem proper, who, under the direction of the aifairs ot‘_denm1t- comptroller, shall take possession of the books, records, and assets of mg “”°°““‘°“‘ every description of such association, collect all debts, dues, and claims llond and _ belonging to such association, and, upon the order of a court of record of gzums °*`*'°°°“’°*`· competent jurisdiction, may sell or compound all bad or doubtful debts, °` and, on a like order, 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, enforce the individual liability of the stockholders provided for by the twelfth section of this act; and such receiver shall pay over all money so made to the treasurer of the United States, subject to the order of the comptroller of the currency, and also make report to the comptroller of the currency of all his acts and proceedings. The comptroller shall thereupon cause notice to be given, by advertisement in such newspapers as he may direct, for three consecutive months, calling on all persons who may have claims against such association to present the same, and to make legal proof thereof And from time to time the comptroller, after full provision shall have been first made for refunding to the United States any such deficiency in redeeming the notes of such association as is mentioned in this act, shall make a ratable dividend of the money so paid over to him by such receiver on all such claims as may have been proved to his satisfaction or adjudicated in acourt of competent jurisdiction; and from time to time, as the proceeds of the assets of such association shall be paid over to him, he shall make further dividends, as aforesaid, on all claims previously proved or adjudicated; and the remainder of such proceeds, if any, shall be paid over to the shareholders of such association, or their legal representatives, in proportion to the stock ·by them respectively held: Provided, however, Kusocimon That if such association against which proceedings have been so insti- denies that it has tuted, on account of any alleged refusal to redeem its circulating notes as f:l°dt;° aforesaid, shall deny having failed to do so, such association may, at any Lpplig ,2};,6 y time within ten days after such association shall have been notified of courisfor an in the appointment of an agent, as provided in this act, apply to the near- ·l‘“‘°“°"‘ est circuit, or district, or territorial court of the United States, to enjoin further proceedings in the premises; and such court, after citing the comptroller of the currency to show cause why further proceedings should Proceedings. not be enjoined, and after the decision of the court or linding of a jury that such association has not refused to redeem its circulating notes, when legally presented, in the lawful money of the United States, shall make an order enjoining the comptroller, and any receiver acting under his direction, from all further proceedings on account of such alleged refusal. Ssc. 51. And be it further enacted, That all fees for protesting the Fggg rm- pm. notes issued by any such banking association shall be paid by the person WS'- md °*£¤1' procuring the protest to be made, and such banking association shall be Qc2i";;, °w liable therefor; but no part of the bonds pledged by such banking association, as aforesaid, shall be applied to the payment of such fees. And all expenses of any preliminary or other examinations into the condition of any association shall be paid by such association ; and all expenses of any receivership shall be paid out of the assets of such association before distribution of the proceeds thereof Sec. 52. And be it further enacted, That all transfer of the notes, _Tmnsfcrs, asbonds, bills of exchange, and other evidences of debt owing to any asso- ?:l5?m:;‘*$·,&_°-· ciation, or of deposits to its credit ; all assignments of mortgages, sureties tionogg i;}?,;, on real estate, or of judgments or decrees in its favor; all deposits of v¤pcy,&¤-.t<>be money, bullion, or other valuable thing for its use, or for the use of any v°"l' _ of its shareholders or creditors; and all payments of money to either, , made after the commission of an act of insolvency, or in contemplation