Page:United States Statutes at Large Volume 44 Part 1.djvu/288

 as c § 22L T1TLli;’ 12¤~—·»——BAih’l£’é A Scc. 236. Transfers of stock: ru¥cs,_an<‘! regulations. 237. Value of shares qt stock; incrcésc gud dccrcagc ct stock; member ‘ » banks as sharchoxders; surréudcr of shares. . “` 283. Cauccilatipn of stock held by member bank im ainsolvcncy; ce;·~ ~ E tificatc of reduction of capital of reserve bank. · _ 289. Bividenéls an stock ofrcaervc banks; franchise tax on net earnc Kings; surpius fund. » . ‘ _ 29% Uispbsiiich of act earnipgs paid as f1;·a;1chi§c tax; disposition of A surplus fubd `»cm·diss01ution or insolvcncy qi reserve bank, DIRECTORSWBF FEDERAL RESERVE BANKS; RESERVE AGENT§ ` . AND ASSISTANIS ‘ ‘ 301. Powers-and duties of board of directorsc $(*.*2. Numbér of members; classes. ~ f, 303. Quamiycaticns and disgxbilitics. 3=G4._*CI:1ss Acaxid clasé B dgrcctarsg selection. 395. Class C directors; selection; “Ecdcral cresctvg agc~¤t." 3%%. Assistants t0{Fcdera1 reserve agent. . . · W 1 367. Ccngkpenéation of directcrs.  ` 398: Térms ct directors; vacancies. B (· ` STATE BANKS ASIMEMBERS OF SYSTEM · 321. Application for membership. ·   , S22. Determination on hpp1i<:u,tipn._ _ _ 323. Stock in Fcdcralwresorvc banks; method of payxhcnt. \. _ 324._Law3¤ap;>1icab1c on becoming mcmbersf ` ” 325. Examihations. ’ , - , _. ` 326. Acceptance of examinations mid reports by State a"uth0_rities;- · special examinations! r ° ‘ ; ° j 327. Surrender oi? stéck and ca}1_cc1lati¤1i~0£ memberships. ‘ - · 328. Withdrawals tmrdimcmbcrship. _ ¤ ·» _ . 329. Csapit~a1`stqck’requircd z1s_c0r1diti£u;n precedent to membership. c 336. Laws appiicablc gm bcccnxipg 1ue>x;1lgcrS;‘ discounts fdr, State banks, BSE Ccrtifg*ing_checkcs cn St9._§é»i$ai1ks admitted asf xncmpcrsg ·` “ _ ¥ c c. ' FOWEI¥S AND QUTIES ’0F .FEDERA$p RESERVE _BANKS`;`. ' 841. _Gc¤cml,é::umc<;ra1iqu of pcvwcrs. ~ 2 = ” V A cc 842. Iiépbsits; exchange and, collection; member an/Q ixonmcmbcr banks} charges,. " _ . _ c . 343. Bcisccixnt bt obligations Qatising out of gdtual commercial tra1usaic·Y .· tics;. ’ ‘ · ", ~ V  ‘. K 34*4. Iiisczousztwor-pu;chasc° of bills to iinéncc Zxgriculturil-shipments. ·· 34,%. Liguitaticn aiu amount cxf obligation given for agricultiiraxl pur-— " pogcs which may bc rcdiscduntcd,, ’_ ; _ . 346. Disccuntwzot c.Q§€pta11ccs`. ¤ · ’ , ' 347; Advances to mcmbcr banks on their notes. . · X 34%%. Biscmsgat ct_<>b14g1xi¤:zs given {0K'w£l§;fiCU11‘1lf§1,1D\11‘§X)8€8`O; based 4 . ppcm 1i§rc$i:cg:1.·;;cc¤l1:z.tcrarl—security for Ifcdcral x·cscrvec· notes. 349. Rc£Ha<:cu¤t‘ mr Qzngcrmceliatc crvslit banks of obligations givéxi for Q agricculmml purposes. F  4. ¤ "' _ 1  Purchase ami salccf debentures and like obligations of iutermc-. ,_ ~d»i¤t—é·crcdit t$s,:aks`aud agricultuml cccdit corporations. ‘ ` ! drawn {ox; agricultural pu·=r§}ases.   é  g , · . • _ ·. 352. Limitmim: an amcupt of ébligations of "QBYCRUI mgturitiésc which 5   · “ may bc discciautcd and rcdiscountcd. " _   ‘ ~ 353. Purciaasc and sale of cable tmnsfcrs, ucccptanccs, and bills.  354. Tcmnsactimga invélving gold cam, bulli•:m,_ and Vccrtihécitcm ~ 3i•§n.Pjs1rchasc ami Ssaic cfobligaticxis at National, State, and munici- !}}8l__,QQ‘V€!'13¤}c9l1§S, ‘ _ · _. X ‘ $356. P11I’¤éh&Sé_·0f ccmmcrcial paper {mm, mcmber banks andcsalcn at _ Q · samep ·‘ _ _ J c Q B5$‘?, Eismblishment of x·a.gas~¤fié1scci1nt. ., . » ' 358.} 1€stzz£;11$chmcn»t» of accciintcs my purpcac qt ¤pcn~»mc{rkct; opcmtionskg é ’-··c¤:·resp¤nden{s»`·$ané agcucigs. 4 ‘ · i ~ °  e Simi Purchasc»»a.;;;i sélc of (acccptanceé of mtcrmcdiatc credit banks and ngricultazml credit; carpcmtimss, · I 1 —· Q SQGQ skeécciviug chcckm and draftzsgunp depcsit ht, par; ch.:i}·gcs” for  9.61; Bills reccivzixhlec, biiis at exchange, discoxims, etc;;` rcguknticms byY Iiczscrm Board. _· . ‘ _   ~ · ‘ c c, . r ** c, c PGJNQZRSS AXD DU’TIES,OF MI*}§!B§;H BANKS W W *371. Lcmms xm farm lsmils and ihnproveced rckl cémtc. .» BT?. Acccptamsc of drafts cr him ralaiting to gchicpments. · 3T3. Ac~ccpt:1¤<:c_c£ Gratis ar mils dmmi by banks in foreign {countries c   `m·.~d<:pcnd¤»n¢gic$ cg United States fcrpurposc ct dpllar cxchangc. 3’1'4,,Act, ing so agent for uéumember bank in getting dis<:<m¤’ts`fi·cm .’ res¢»crxjé‘1;;:nk. _ Q     _ { ` .  375, Purcxxmscs {mm .d—i:·ccmrs°; mics tccdircctcrsl , $$6. Rzxtcpf mgcrest paid to dircctom, ctawn . ~
 * 351. Gbligatiaasé of ccopcratisc 'markgtixzg association gs issued for
 * ccmcctimxs, exchange, and clcaranccs.  ‘ ‘

§’ AND B.4..NKI.N"G' QT; DEPGSITARIES ASI) FISCAL AGENTS Sec, x _ E 891, Federal reserve banks SA. Gsit&rizex. _, 393. Federal reserve bauka as depcsitmiies for ag;} figczzl agents Gi agricultu1·:11 credit ccx·p0rations=*or iqte:·me—diat°e credit banks. I·¤‘}·}DERAL RESERVE SROTES 411. Issuance to reservq ba13ks;)natu/re at obligatica; rcdémpticm. 412. Application for 1mtes;__colh1tex·§l required., ». '—113.’ Besaxve agaiugzt deposits and nqtes; circulation of ncws; mmm S at ixqtes to bank of issue for credit or V/redcmpticza; reaim. V, mcniiapd dgstructbicn,. “  A - 414. Gold deposits in Treasuryior redemptimn of issued notes: `mz- , thority of Rcsgrvc Board Jrewecting issmuice of nctes; ‘i¤m·.. _ est;~lie¤.¤ _ V. °  v. 415. Reiiuctiohr of liability fqr outsdanding, notes by d<!p0sitin§‘hl and direction fof plates and d.ieq-by·ccmptr¤ll¤er; expmste of issue and ’retirement· of notes pgid by bhzzksx 421. Ex:1mi_¤ati9n_9f platés and dies. , - · . 422. Appropriations and paper ·fcg·· printing notes; reimbursement ot ` · ·, United-States-for printing "nctés. _ _ J Q . f _ » CIRCULATING NOTESAND .BONDS SECUBING SAME 441.»BetirementZ0f circulating notes by member banks;. appliciaticn for . _ sale of bonds securing circixiaticni · .` 442.* Purchase of bonds by, reserve banks. . - _ { ·, 443. Trmpter ct bonQs purchased wvnymemt: mncellaftca ct circum- ·° mg nate: ¤£_mem.tiex·’b•¤k¤. _` X . ” " ~. . _444`.` lssuauhg of circqluting npteé ,toZ icservg bank; puxchasing hqnds, S· .» 445. Form of circulating uéteh iwued to reserve hints; conditiésmotr a 446. Exchimge by gesetya banks at baud; bearing. circulating privitege S for those without such privilege. Z _’ ‘ ° 447, Foim 0; boxidé.; conditiénspl 1¤ua.¤c¢.». · . S 448.T Exchange o£»’0ne—year 5043 nate: tcazf'3 per centumgnid bonds. BANK QESEBVES 461. ‘1:>emq¤·&¢ anamaing aémgu semen. ·. ··   _ Q462. Balancé which membér banks must keep in re~$erm_banks». ,·£63..Lin1ité.ti0¤ on amouht wit tisiance with_.S€atq bank or_. t;us:t# H ’ccg¤;pa.ny.. '. · ·‘ ‘ *    »· ‘ _  464. Chgcktug against and withdrgwnfot rmervembaimce. ‘ _ 465. Hgh for ascestxixging deposit? _&s&i¤st which pequimé balance is · g determined. " . · _ . . · 466. Reserves at banks in Alaska on insular pcsseésicns. ° " _ 46% Qepcsitq 02 golf com or gait! vertiécateq with United States Tr~cas· _ user. . . ~. `T. * _ » . BAH$ EXAMINATIORS. 481. Appcintment of e.·xs.mi¤cra;`ua¤i¤n£io;a at member bmiks, Smte ‘  bankmand trust  rgporte. ‘i. · ~  ‘ 482. Salaries at exsmipés; egpeuse ¤t_e.xa1.g§nsz.tio:xs. S ’ ’ * , 483. Special examination of mgmlicr panks; infqrmzstiozx ct c0nc}itV_ " ·‘tuf·;zished” té Fedex! Reserve —B¤a.rd. ”J 484. Limitr {tem an vtsitarisl mwah.   - 485., Examingtion at Eedem.1 mmergc ba_nks..S ‘  jCIVIL°LIABILITY 0F FEDERAL RESERVE AND MEMBER BANKS, · # ·— ‘ _ SSHAREHQLDEBB, AHB QFFICERS _ . 501. Liability of _Fe~dergd re;¢i*w'¢:·` ·!II€mb&1j;b§B; tm- certifying ¢heck— ‘ iwiiein. ummm at ¢Ypq¤tt was insdeqmite. ». ' 502. Liability, qt sharéchc Gets at reserve hmiks dn contracts, etc. 503., Ltubmtyflof directqrs. and ¤§<rs at membexj mgks, ’ ‘° ‘ RESEBVEQANK BRANCHES 521. Reserve-bask bx·am·.§e<s;` estabnshment: director!.    F‘éderal mservg h£·a.¤c.h~b¤nk · mixldings. . » _ _» . DEFINITIONS, QRGANIZATION, AND G»ENERAL·YPROVI- ` _ SIQNS A:FFEC*I"ING‘ SYSTEM _. . ~ Q .  221. De§nitiq¤s.~\v1;emver thé wm·d “bank " is ‘ in this <:haDte.r,‘ the wen} Shall. be held to i¤clu§a‘ Stats
 * ‘ issugxizcef `” _ “ _· “V ‘ , _ ,.