Page:United States Statutes at Large Volume 42 Part 1.djvu/1485

 1458 SIXTY-SEVENTH CONGRESS. Sess. IV. Ch. 252. 1923. surplus remaining shall be paid to and become the property of the United States and shall be similarly applied. L¤¤b¤i¤¤¤- LIABILITY ON nnnnmunns. m<>r§g1b:mjr_¤§ ,1¤¤¥>1¤, "Sec. 207. That any Federal Intermediate Credit Bank isuing and me sm- coupms debentures or other such obligiitions under this title shall be pri- Eiu °f dmmm mad]! liable t·l101‘€fo1‘, and Shu also be liable, upon presentation of the coupons for interest payments due upon any such debentures or obligations issued by any other Federal Intermediate Credit Bank _ and remaining unpaid in consequence of the default of the other d,$°}“”0?"‘§$,‘}§,'§' Federal Intermediate Credit Bank. Any Federal Intermediate g°&s_ °* “*1¤*¤¤*¤i Credit slgall likewilsp be liable for sugh portion of the pgpcipal 0 e n ures or o igations so issue as are not ai a r _ { the assets of such other Federal Intermediate Credit Igank have lioarg against sollyent Fecgeral Intimpediatemglredipi Bank;. hablg t ere or in propo ion to the amoun 0 capi stoc surp us an Obumim to be W debentures or other such obligations which each may liave outstandmwuénéjtnhighpm of ing at the time of such assessment. Every Federal Intermediate way Credit Bank shall, by appropriate action of its board of directors duly recorded in its minutes, obligate itself_ to become liable on debentures and other such obligations as provided in this section. mQE$$i"““°°“ ““° nxsmirwrrons Arm nnroxrrs. “ Sec. 208. (a) That in order to enable each Federal Intermediate Mmhg g1¤g*»;g_- the Currency is herebly authorized and directed, upon the request of mm mm. any Federal Interme iate Credit Bank, (1) to furnish for the confidential use of such bank such reports, records, and other information, as he may have available, relating to the financial condition of mw mmm, national banks through or for which the Federal Intermediate Credit Mwmavzeildrgsmto cum Bank has made or contemplates making discounts, and (2) to make 8 H" through his examiners, for the confidential use of the Federal Intermediate Credit Bank, examinations of orvanizations through or for F. which the Federal Intermediate Credit Bank has made or contemcenseamquaea. plates making discounts or loans: Provided, That no such examinawnm, mm, ,0 tion shall be made without the consent of such or nization except ggrrmd %·;§§;»_ii¤g where such examination is required by law: froviggd, That any ornm. ganization, except State banks, trust compames and savings associations, shall, as a C0l'ldltl0l;(§)l`€C€d€ht to securing rediscount privileges with the Federal_Interm iate Credit Bank of its district, file with ,,,,,0,,, 0, mmm such bank its written consent to its examination as may be directed ggs gjyS=g0¢:Shbg`g;=d by the Federal Farm Loan Board by land bank examiners; and State textarea. banks, trust companies and savings associations may be in like manner_requ1red to tile their written consent that reports of their examipation by oonstcguttgcxlautpogitiep pray be §urni%ied by lguch aigthori- I ies upon requ e e era nterme iate redit ank o the' duuiitbausf °t°" district. Each Federal Intermediate Credit Bank shall be exanit med and audited at least once each year by the Federal Farm Loan Boglljd, gnncilh the results of such examination and audit shall be made R I pu IC e board. gsggézh (b) Eyvery Federal Intermediate Credit Bank shall make to the ’““'· Federal Farm Loan Board not less than three reports during each {gat as requested by the board and according to the form which may prescribed by the board, verified by the oath or adirmation of the president, or secretary, or treasurer, of each Federal Intermediate
 * .,$§?°m°°m°"° ° been liquidated and distributed. Such losses, if any, either of interest or of principal, shall be assessed by the Federal Farm Iioan
 * ,§i:{’,}'°;,,}'§'j,,‘Q',,‘?,§{g Credit Bank to carry out the purpose of this title, the Comptroller of