Page:United States Statutes at Large Volume 42 Part 1.djvu/1498

 SIXTY-SEVENTH CONGRESS. Sess. IV. C11. 252. 1923. 1471 consolidated corporation shall hold and enjo the same and all rights of property, franchises, and interest, in tire same manner and to the same extent as the were held and enjoyed by the corporations so consolidated therewitii. msonvnxcr, maomvmasmr, nm LIQUIDATION. 1”°°'“¤°¥»¤¢¢· Sm. 215. (a) That whenever an National A ricultural Credit R°°°"°' °° *’° °P‘ Corporation shall be dissolved aiid its rights? privileges, and ¤@ franchises declared forfeited as prescribed in the preceding section, w' ' or_ whenever any creditor of any such cor oration shall have obtarned a judgment against it in any court ofp record and made application accompanied y a certificate from the clerk of the court, stating that such judgment has been rendered and has remained un aid for the space of 30 days or whenever the Comptroller of the Currency shall become satisfied of the insolvency of such corporation, he may, after due examination of its aifairs in either case, appoint a receiver who shall proceed to wind up the affairs of such corporation. The receiver so appointed shall exercise the powers and be raven or receiver, subject to the restrictions of receivers of national banks; and the °°°‘ Comptroller of the Currency shall have the same powers and duties in connection with the administration of such reoeivership as he has in rlefergalpce {lo {gre receivershjp o;hnation§ banl?s.N A Aga are o ers nts or areho ers 0 ational icul- *¤ °*¤*¤¤¤=¤1¤- tuxial Credit Corporatidns may be appointed in the mannegrpre- °rvd$i•$”;fiii?°i"' scribed by section 3 of the Act of June 30, 1876, as amended, and shall have the same general powers and duties and be subject to the same restrictions as shareholders’ a nts of a national bank. (c) Any National Agricultural Ceredit Corporation may go into ,,,;“,_“*"*"““°" P'°°•°d· liquidation and be close by the vote of its shareholders owning twothirds of its stock. Whenever a vote is taken to go into liquidation it P¤b¤i¤¤¤¤.ctc. shall be the duty of the board of directors to cause notice of this fact to be certified under the seal of the corporation by its president or cashier to the Comptroller of the Currency and publication thereof to be made for a period of two months in a newspgper published in the city or town in which the corporation is loca, or if no newspaper is there published in the newspaper published nearest thereto. that the corporation is closing up its a airs and notifying the credit- mqmting mm to ors to present their claims against the corporation for payment. All imppunm, ea. such claims shall be presented to and approved by a liquidating agent to be appointed by the board of directors of such corporation, with the approval of the Comptroller of the Currency, and the aifairs of such corporation shall be liquidated by such agent and under the supervision of the Comptroller of the Currency. PENALTY rnovrsroxs. P“‘“"’ *"°""""“· Sec. 216. (a) That any officer, director, agent, or employee of a “,E';';:’*;‘,*f.f_’;,g’{g,’§j National Agricultural Credit Corporation who embezzles, a stracts, 1>¤¤¤¤¤· purloins, or willfully misapplies any of the moneys, funds, or credits of such corporation, or who, without authority from the directors, draws an order or bill of exchange, makes any acceptance, issues, puts fortlii, or assigns any note, debenture, bond, draft, bill of exchange, mortgage, judgment, or decree, or who makes any false entry in any book, report, or statement of such corporation with rntent in any case to injure or defraud such corporation or any other compan or person, or to deceive any officer of such corporation or the Comptroller of the Currency, or any agent or examiner appointed to examine the aifairs of such corporation; and every receiver of °"°°°"¤’· such corporation who with like intent to defraud or injure embezzles,