Page:United States Statutes at Large Volume 44 Part 2.djvu/1265

 sxxrrmnrn corcsnss. ssa. rr. cs. 191. 1927. 1225 " Sno. 3. That any> bank incorporated under the laws of any State. S,§,‘;¤gg,l*‘§,gf,§,§Qg§,f or any bank zincorporated in the District of Columbia, may be ¤¤¤¤i¤¤.=¥u¤w¤¤. consolidated with a national banking association located in the same county,_city·, town, or village under the charter of such national banking association on such terms and conditions as may be lawfully agreed upon by a majority of the board of directors of each association, or bank proposing to consolidate, and which a ee- ,,0{*d*§§’,f",’{‘,§,,‘§,§,,§*§y?"°"* ment shall be ratified andconiirmed by the aiiirmative vote 0%-r the shareholders of- `each such associationor bank owning at least two- thirds of its capital stock outstanding, or by a greater proportion of such capital stock in the case of such State bank if the laws of the State where the same is organized so require, at a meeting to p§,,¥‘§,“°‘Q,?°‘},f,{‘,,‘§,°”§} be held on the call of the directors after publishing notice of the ¤>°°¤¤¤· time, place, and object of the meeting for four consecutive weeks in some newspaper of general circulation published in the lace where the said association or bank is situated, and in the legal newspaper for the publication of legal notices or advertisements, if any such paper has been designatediby the rules of a court in the county where such association or bank is situated, and if no newspaper is published in the place, then’ in a paper of general circu ation published nearestithereto, unless such notice of meeting is waived in writing by all stockholders of any such association or bank, and after sending such notice to each shareholder of record by registered mail at least ten days rior to said meeting, but any additional notice shall be given to the shareholders of such State bank which_ may be required by the laws of the State where the same is organized. The capital stockof such consolidated asociation m;?&¤l°¤l=*°°**°¤*¤*°· shall not 'be less than that required ·under existing law for the ' organization of a— national banking association in the lace in which such consolidated association is located; and all the rights, franchises, ,m*}1QmP,;g_¤°$' fx; and interests of such State or District bank so consolidated with a amd. " national banking association ·in and to every species of property, real, crsonal, and mixed, and choses in action thereto belonging, shall lbe deemed to be transferred to and vested in such national banking association into which it 'is consolidated without any deed or other transfer, and the said consolidated national banking asso- ciation shall hold and enjo the same and all rights of property, franchises, and interests inclyiiding the right of succession as trustee, executor, or in any other iiduciary capacity in the same manner and Fiduciary mms. to the same extent aswas heldand enjo e by such State or District bank so consolidated with such nationalybanking association. When ,,0{{,gj°§L}’§B¤ pgllmgg such consolidation shall have been effected and approved by the comp- holdinss. troller any shareholder of either the association or of t e State or Dis rict bank so-consolidated who has not voted for such consolida- tion, maygive notice to the directors oi the consolidated association within twenty days from thedate of the certificate of approval of the comptroller that he dissents from the plan of consolidation as adopted and approved, whereupon he shal be entitled to receive the value of the shares so held by him, to be ascertained by an appraisal ,,,§,§§{“°“ °‘ "*“° made b a committee*of three persons, one to be selected y the shareholder, one by the directors of the consolidated association, and the third by the two so chosen; and in caseithe value so iixed shall Cgiuslggorhgglgglvafug not be satisfactoxéy to such shareholderhe may within five days after not mummy. being notified o the appraisal*appeal> to t e Comptroller of the Currency, who shall cause a reappraisal to be made, which shall be final and binding; and the consolidated association shall pay the Expemecd. expenses of reappraisal, and the value as ascertained by such appraisal or reappraisal shall bedeemed to be a debt due and shall