Page:United States Statutes at Large Volume 22.djvu/190

 FORTYSEVENTH CONGRESS. Sess. I. Ch. 290. 1882. 163 rency, accompanied by an application made by the president or cashier lor the approval of the amended articles of association by the Oomptroller; and such amended articles of association shall not bevalid until the Comptroller shall give to such association a certificate under his Certified under hand and seal that the association has complied with all the provisions °°"l*°C°'“l’“’°“°" required to be complied with, and is authorized to haye succession for of g`Q;°°°y mr the extended period named in the amended articles of association. pp J ' Sec. 3.—That upon the receipt of the application and certificate of the Comptroller to association provided for in the preceding section, the Comptroller of the '“*‘l‘° ?P°°i°l °x‘ Currency shall cause a special examination to be made, at the expense ::Q{’(::°';:(§ Q of the association, to determine its condition; and if after such exam- c,,,m5c§m_ ination or otherwise it appears to him that said association is in a satisfactory condition, he shall grant his certificate of approval provided for in the preceding section, or if it appears that the condition of said asso ciation is not satisfactory, he shall withhold such certiiicate of approval. S20. 4.—That any association so extending the period of its succes- All rights, privisien shall continue to enjoy all the rights and privileges and immunities !¤g°¤·°*<=·;°*`l}¤¤k· granted and shall continue to be subject to all the duties, liabilities, and ";§w‘:Tg§"’ °’°“' restrictions imposed by the Revised Statutes of the United States and p ` other acts having reference to national banking associations, audit shall continue to be in all respects the identiml association it was before the · - extensionof its period of succession: Provided, however, That the juris· Prvrivq- _ diction for suits hereafter brought by or against any association estab- ·lt‘:"“‘“°'·‘°“ f°" lished under any law providing for nationalbanking associations, except mu suits between them and the United States, or its officers and agents, shall be the same as, and not other than, the jurisdiction for suits by or against banks notiorganized under any law of the United States which do or might do banking business where such national-banking associations may be doing business when such suits may be begun: And all laws and parts of laws of the United States inconsistent with this proviso be, and the same are hereby, repealed. Sec. 5.-That when any national-banking association has amended Shareholder not its articles of association as provided in this act, and the Comptroller °°¤°a°”*’¤‘§ *° has granted his certilieato of approval, any shareholder not assenting {Qu Mn3W?; to such amendment may give notice in writing to the directors, within 5.,,, may wm,. thirty days from the date of the certificate of approval, of his desire t0’¢lraw. withdraw from said association, in which case he shall be entitled to (3,,,,,;; tions of reeeive from said banking association the value of the shares so held by withdrawal. him, to be ascertained by an appraisal made by a committee of three persons, one to be selected by such shareholder, one by the directors, n and the third by the iirst two; and in case the value so fixed shall not be satisfactory to any such shareholder, he may appeal to the Comptroller of the Currency, who shall cause a reappraisal to be made, which shall be iinal and binding; and if said reappraisal shall exceed the value fixed by said committee, the bank shall pay the expenses of said reappraisal, and otherwise the appellant shall pay said expenses; and the value so ascertained and determined shall be deemed to be a debt due, and be forthwith paid, to said shareholder from said bank; and the shares so surrendered and appraised shall, after due notice, be sold at public sale, within thirty days after the final appraisal providedin ’this section: Provided, That in the orgainization of any banking asso- havin. ciation intended to replace any existing banking association, and retaining the name thereof, the holders of stock in the expiring association shall be entitled to preference in the allotment of the shares of the new association in proportion to the number of shares held by them respect ively in the expiring association. ' Sec. 6.-—'l`hat the circulating notes of any association so extending Redouiptionixd the period of its succession which shall have been issued to it prior to d¤9¤·¤¤Q*¤•>:1::` 9** meh extension shalt be redeemed at the Treasiuy of the United States, f;)‘:;8_°“° ***3 as provided in section three of the act of June twentieth, eighteen hun- lB Sm, me aired and seventyiour, entitled “An act ilxing the amount of United » States notes, providing lor redistribution ot national-bank currency,