Page:United States Statutes at Large Volume 18 Part 1.djvu/1068

 996 Tum: rm.-xAr1oxA1. nAx1<s.—cn. 1. son intéeiesitpdlin sucll; trtylstffunds would be, if living and competent to act an 0 the stoc in is own name. Duties and lia- Sec. 5153. All national banking associations, designated for that purbilities when des- pose by the Secretary of the Treasury, shall be depositaries of public $2,*;**;,* ‘31°,5’€'(money, except receipts from customs, under such regulations as may be ,m,,,(,,.,_ p preiscribcd by £\he(JSccremry*;tand(h'ely  also bfe emplgyed las finan- — -»¢* -T; cia a ents o t c `overnmen ; an ey s a pei orm a suc reason- Ib‘d·*’·4°·Y‘·u3; able zguties, as depositarics of public moneys and financial agents of the (`Bagchégfase, 13 Goveiilniaent, as mgy be required oftfhemi _'l`hetS§c;·ctary of tgicfTrt;as- · ·· · ur' s a re Hl.1'0 e associations 1us esigna e o give sa 15 ac 1* sedurity, by (ilhe deposit of United States bonds and otherwise, for this safe—keeping and prompt payment of the public money deposited with them, and for the faithful performance of their duties as Hnancial agents of the Government. And every association so designated as receiver or depositary of the public money shall take and receive at par all of the national currency bills, by whatever association issued, which have been _ paid into the Government for internal revenue, or for loans or stocks. [Sec §§ 8889-3640, 5489.] Organization of Sec. 515-L. Any bank incorporated by special law, or a.ny banking $*3*6* b¢·¤kS_¤·¤ rw- institution organized under a encral law of any State, may become a “°f}*‘:. l’““l“““ "‘ national association under this étle by the name prescribed in its organ- i9. ization certiiicate;Hand in sucglg case the! a)rticlcs of assocéattgondand the 1 ·i**- yr- —· organization ccrti cate ma · s execute a ma`orit · o e irectors of the bank or banking institution; andythe cizrtiiilcate shall declare that the owners of two·thirds of the capital stock have authorized the directors to make such certificate, and to change and convert the bank or banking institution into a national association. A majority of the directors, after executing the articles of association and organization ccrtiiicatc, shall have power to execute all other papers, and to do whatever may be required to make its organization perfect and complete as a national association. The shares of any such bank may continue to be for the same amount each as they were before the conversion, and the directors may continue to be the directors of the association until others are elected or appointed in accordance with the provisions of this chap— ter; and any State bank which is a stockholder in any other bank, by authority of State laws, may continue to hold its stock, although either bank, or both, may be organized under and have accepted the provisions of this Title. When the Comptroller of the Currency has ivcn to such association a certificate, under his hand and official seal, gist the provisions of this Title have been complied with, and that it is authorized to commence the business of banking, the association shall have the same powers and privileges, and sl1all be subject to the same duties, responsibilities, and rules, in all respects, as are prescribed for other associations originally organized as national banking associations, and shall be held and regarded as such an association. But no such association shall hgve al lesshcagitgl than the amount prescribed for associations organize un ert is it e. _ Statebankshav- Sec. 5155. lt shall be lawful for any bank or banking association or- Qf_S{l[¤_¤}‘E*-__ ganized under State laws, and having branches, the capital bein joint 3 MM, 13,;;, c_ and assigned to and used by the mother-bank and branches in dihnite TS, s. 7,v.13, p.484. proportipns, to bgcome a natioiaahbanking association in conformity witp existing laws, an to retain ant ee in o eration its branches. or suci one or more of them as it may electlloretgin; the amount of the circukit-ipp recleeniazblp at t_helmot_her-tliank, apd egcp branph, to be regulated y e amoun o capita assi ne to anc use y eac. Reservaciorr or Sec. 5156. Nothing in thisgifitle shall affect any appointments made, rights oi associn- acts done, or proceedings had or commenced prior to the third dav of ¢{•·¤1=*e¤‘sr<}¤;;gj; ¤¤· June, eighteen hundred and sixty-four, in or toward the organizatioh of ‘_{°r_a°t ° _  ‘ _ any national banking association under the act of Februarv twentv-live, J nag, 186}, c. eighteen hundred and sixty-three; but all associations which, on the third {gg S- "-» "· 13-1* day of June, eighteen hundred and sixty-four, were organized or com- ‘ menccd to be organized under that act, shall enjoy all the rights and privileges granted, and be subject to all the duties, liabilities, and re-