Page:United States Statutes at Large Volume 44 Part 1.djvu/311

 3.;;- TITLE 1.2.»—~l$.»l..\`1is. { • { R1 gr qmizziilon ct~rtlfl<":¤trs: contozits, { ,»— . ¤;.u;<·s in orgunhzailon certrtirote. N he  ;,,__.- nf comruenceunent of corporate existence of land books; 77 is-   of election of directors. ‘  ; ;,. . tors; number and rpuillficutions; local and district iiireztors; A ,] ..;·gi;;;; and :1[i[N`•iI1*£¥llt‘ilT., ‘ · _ 5--aus of districts; local directors; nomination of candiclutea U X. .,5 rltrertors; election. , { A TE—iii·’£ tliwttors; direenr ut large; appointment and election;" ‘:;!¢'[ll•1°K`<· · Q A ,. Fiticntiosies of -<lirc<·t<•rs, ; \ ,» ..ors, oilirers, and empl··}‘ees; complnsution n:x<l_z;11ow;met-s. xgl r`;\l’l'l‘AL STOCK OF l·`l£DERAL LAND BANKS ' ‘=; : intron amount of capitol; regulation of subscriptions. - . _  value; who may subscribe. _ . °t—»;_ . ._ ';r.·n~:'¤·r of stock held by national farm loan :~iss0ci=¤fNJg;7. ‘E . _ it-ti»!·-mls; xfotlngstoek. » . ~ _ 7‘ t  S·n·~·:riptionS= to stock; subscriptions by United States for .unsub· ¤(‘i‘l:‘l‘ll b.1l;mee. ‘ ,. ` . r ze-..p._.i·ti·—n held iut§1l’1ick»nss¢·ts.. *8 7 A l. nd marks and joint stoek land-hunks as depositaries und agents; {minis; investment oi funds. . ’ l k . “ 7;;. lo·,c.lnsr.ntion; articles of association; signature; copies for -1;ind· _ _ {¤»:u1kS. ‘ · I ‘ ‘ I I _’ 71; lsirwtors; o&¢~ers;`l0an'oommlttee.
 * ,.o,v•·rs enumerated. “
 * e·!li'¢·lll{fll( Sol original stock. ~ __
 * ,.\i# BANKS AS GUVl—JRNMEN'P DE[‘Sl'l‘.\RlES AND AGl¥lNTS_
 * ~;.\'l`lO§AL FARM LO.·\N`ASS6(YIATIONS GENERALLY
 * ..2. vonlpensstion and qualitlcntions of directors. -· v

qw, sl-¤·rl·ta`ry-treasurer; powers and duties; bond; reports; .niisconduct in owre. l  “ Tl{rfipra.ses of secretary-treasurer; payment., · 79 i:·. Number of incorpomtors;. orga·¤isation;i dire ors; consolidation - of offices ot secretary and treasurer-. T`?. lztport and :1!§<1:i1\*lfaccompaillvlug articles elntion. T;—.:jnvestigation of solvency of applicants for incorporation. <ir;int or refusal of charter. ‘ . ?;.·» 1...sos to asséclations..— _ _ —. $:1. Loans to members; subscription to stock of land banks as col· ` lateral; rctirernent ot.sto<·lr. _ T-: lzmluetion ot capital stock ofl Federal-·ldnd banks. { l‘.xl‘l'1‘.\L STOCK OF NATIONAL FARM LOAN ASSOCIATIONS . · . p } ` T?t1.Vi?nr value of shores. _, 80 7..2 Noting stock. , . ‘ ,80 T iz. izorrowers only to; he m¢·mbers;_ amount of stock--to he held by 80 ltorrower; stock held as collaterol; retirement of stock. _ .. 80 1:, lnrr•;·:ase of stock. · { . . · · 80 3\'ZlUXAL FARM LOAN A5iSOCIA’I‘l0NS; OSPECIAL PRO\’“lSl(1NS SU T;i-iti;;llt offmenibers to loans. ' T43. lmzus to n:‘oin!>ers to psy for shares; repuyrnent. .’· 81 T11:. i'<»HllTli:nli;·a¤:t; aulllcleney ot-security otered`; report; _ r ·· _· 81  slabwissiost to umd bank ot report and loan application; weight 82 given appraisal. · ° _. “ ·- V 82 T];. Submission to land bank approisersmof report and loan appli- 82 U Qczztion. · . .82 lol. Forms {or reports. " - ‘· · 1;.1. i·2xsmin§tions by land bank appraisers as to form loan bonds and ` thirst mortgogea..‘_` A . t . ·_ , Til;. Borrowers as spprnlscrs or numbers of loan committees. 83 POQVERS OF. NATIONAL FARM LOAN A8BGClATlNB TM. Enumerated §oWgfl·_ ·· g ~ { ° l " _F_lrst. Izidlorslng mofigakétl, , . ; Q Semin}. Receiving advanoes from banks and leaning to share ‘ ·-   holder. -` ._ ~ _¤` ‘ Third; Fixing chang for application for loans. . - x -Fourih. Issuing iuteregt··bZ~srlng oerllncutoa against deposits 43 · · of current funds. . · e · • ,

il Nl) lf.#iN1(lNG [1S'fl°;ltj'i‘{(lNS ON LOANS OF Flliiliiitl. I..'·.Nii>·i?A.NKS l¤.\ie§ED ON l·`lRS'1‘ l\I¢>;:·°l‘L;.it3rJ>4 c. . "’ 1. Rest¤·icti<»ns rnunierntedn . " First. Security by tirst xnortgngm. Secoi.d._ .·t;::·e¤·:nent for rwgiuyment on nniortiz:ité·wn phen. Ti1i1·<1. Mnniuxnni int•·rc·:; payments of t;2x·’i e " und lieue; iiisiimnce. ` Tenth. 2\gre<·ment by l{orrowcrs.ns to use of loans. Eleventh. Lo:1ns_.not invalizlzltcd by ·urinuthorized n»¢·t:< of . _ ` l banks orhssociutiozls. 2. L·»:1ns·t0 be current funds or farm loan bonds. '3. Mortgages on farm inndsf under United Stntes reclemntiona projects.  ` ’ ‘ . I‘·O\\’ERS OF FEDERAL LAND BANKS GICNERALLY I. Ignmncrnted powers. · I ._ 4 ` -l;`irst. Is<uing nndselling fnrm loamhonds. Second; Investing funds in {arm tlrst nnortgnges. X Third. Receipt and deposit of. mortgages as collateral for  bonds; collection of rinoneys payable underi mort- . gnges and ponds. ‘ Fourth. Acquiring and disposing of property. Fifth, Depositing securities and funds with reserve banks. Sixth. Rcceivingdeposits from associntions; Seventh.·Borrowi·ng money. . · Eighth. Buying and selling United States bends., Ninth. Charging tees for lonné. . _ RESTRICTIONS ON FEDERAL LAND BANKS 1. .Enume.ration gt restrictions. H e ` .Q First. Limiting deposltsk _ _. . Secondi Leaning on nrst Qnortgnges except through nest? · ‘ ° · clations. .- ‘ Third. Accepting other than first mortgages. Fourth. Issuing excess of bonds; recelvln; excess of mort• [ » ·`  ·- gages from amocintionn. » ‘ _ Fifth. Demanding unauthorized conamissionm. LOANS _BY FEDERAL- L.&ND. BANKS THROUGH AGENTS 1. Loans, when authorized. 2; Manner of nuxkinggloans. » . 3. Who may be employed as agent. _ —~— 4. Expenses of and commissions to agents; Expenses of nzmnts. added to loans. tl. Collecting interest nnd payments. 8.-When loans tocense. _- ` JOINT- STOCK LAND_BANK’S 1. Powereto organize: orgnmsntion: directors. . · ·"*§ 2. ·In_di‘vidu:1l liability of shareholders. 3. Powers, duties, and liabilities; steck._ 4. Limltationng on amount of issue" of be r, transnc bnnking · Z business, ‘. , · · 5.- Minimum capital stock required. i I " tl. Issuingbonds before payment of stock. 7. Form of bonde. . W · O 8. Interest, rates; restrictions on rnortgnge·.lonn•. 9. Lirnitntionen interest rnten. ». · 0. Unauthorized eornrnlnsione or charges. 1. Bonds; power to 'lssue; form nnebcontents. 2. \'oluntury_liqinidntion. · ". » . . _ 3: Assets ot liquldntingbnnk: purchase hy land or joint utoek land `mnk; iissumptionof liabilities. ` . _ POWERS _OF EEDELIQAL FARM LOAN BOARD GESERALLY 1. Enumeration. , ‘_ F. ` _. · __ _ { _, _ (n) Organizing and chnrfering"bnnks and loan nseocintione; _ gutlsiorlnlng lqcrense of stock. . (b) Reviewing and iltering interest rates. ’_ i ‘ (e) Grnnting or refusing authority to issue bonds. (d) Making rules and resolutions on to charges on loans. ” (e) Requiring reports, etc.; examining bunk; and associa- "` tionn.·. :~, ‘ " tl) Prescribing forms and terms of bonds and surety neon, (¢) Regulating peymeiits between banks. l
 * 7. ‘Inder¢ement//of loans; liability thereon.