Page:United States Statutes at Large Volume 44 Part 2.djvu/1266

 1226 SIXTY-NINTH coucnnss. sm. II. cs. im. mv. be forthwith paid to said shareholder by said consolidated associa- ¤·l· of ¤¤¤¤¤<¤·¤<¤ ¤i¤¤;_¤¤<l.the Shares so paid for shall be surrendered and, after due "““°“‘ notice, sold ati public auction-within-thirty days after the Hnal apgijaisemente provided for in this Act; and if the shares. so sold at pu hc auction xshall be sold at a;.pricecgroater· than the final appraised value,-the excess in suchsale price shall be-Enid to the said, shareholder; and thetconsolidated. association sh have the ri5ht totfurchascouch  at public-_.aucti0n,Zii it is the highest bi dere erefor, for the purpose of resellingcsuchlishares within thirty days·tb¤¤¤8>fl8r,¢toa{such.¤Y¤x·s0n or persons and at suchlprice m§gg¤ggg¤g ¤* g*g=l= as its hoard of directors by reso ution may determine. The liquida- °”’ ‘ tion of such sha1$¤S*of stock   Statebonk shall be determined in the manner »pi·escribqd bi the aw of the State in such cases if NwmM_mm¤_ such srovision is made mt he State law; otherwise as hereinbefore mvemuz im or me   ed, No sncluconsolidation shall     contravention of the Bmw { of the,State under? which such bank.1s incorporated. a. {gm, ZUQH $‘cT,he5words_ ‘ State bank} ‘ State abanks} ‘bank,’ or ‘banks,’ as used in this section, shall be hcldto include trust companies, savings banksnw other suchoofporaticns or institutions. carrying on the banking‘business‘under the authority of State 1aws.?’ ~ g¤g>omw51%•gwr;® 1$¤¤,1l2;:((a)‘Tliai1 spcti0¤~5136rQf ytbBi=B¢c·ViS6d·:Sh¤LuteS of the .m65.i.;S?°‘ "" ’   subsection "second·" thereofw amended, be amended ,‘ '¤80 ws; it ··‘ ~    . ·, .`» m§u1c¤es5lg;¤0{:°rgl¤¤§g ·s Sggggdk Tg hqvesuccessiona fromtthe date otxthe a proval of ¤¤g;g¤g;<¤¤rg67 d this;Act, or from the date of its organization if or anizedp after such .s.°· ·"· ·“"’°“ ‘ am of?pmwi until me umass use stative? by thsyact et is sharehol ers owningitwo-thirds pflits stock, or until _its-franchise becomes forfeited byreason of viclationof law, or until terminated bf. ¢lth¢l‘ ·¤·18¤¤¤Nl 01*. ¤.$pe¤iaLAot;of; Congress or until its affairs be &laeed‘;in thehands of a 1eceiver:andv.Bnal1y wound ug by him." ngvsemaeubsunngbusl, _). That gestion ,613§_ef;·the.Revised, Statutes of t e United 1i.'s.,sec.mee,p.0:·s, States, subsection}? seventh ’? thcreofybe further amended by adding °“‘°“"°"· atvtheend of the iirst-`paragraph thereof the tollowingz , M°““i‘”°"°°· ,_.‘€Prov1Lied, That the business of buying and sellin% investment securities shall §hereafter‘,be-.limited .to‘ buying and ,sel ing without reco1u;se;_umarkutable obligations evidencing  of any mn, ocopartnerslup, association, or cori>omtw¤,i im the form of y s, notes. and/or `d0hO§Q\$l1[0€i common y known aes investment securities, under; such further el'inition‘ of the term? ‘i¤.vestment securities ,’ as may b regulation be¤prescribed.;byithe Comptroller of the Carton  the total amount of such lIlY8Bt·m8D$,S6¢HI1t18S efaany one   or emaker held by;¤uoh‘ association shall at no tlmepxeeed :25ipez= oentgmjef thegemount of the capital   of such assocnatxuynctuallyl and imancl unimi>ia1red_aud·25o»1.p¤r.ocntum of as ¤mmp¤1re<l·-¤urplPw §u¤<l..but-thm; mrtqtxonigliwi total amount shnlluota-n»p¥lyi.to.iobl1g¤¤o¤s iota thg~}lmted· _   ov general  o 2.an ·iState.px=. f anyypoutioalgsubplivisaon thereof, or    underT¤tEg:·r1ty1of;_theyFederal Farm Loan Act: 1 ~pmo•ded./ortber,; tin carrying on the busanesscommonly lmown as;theTsa£e-degmsit business n0;such_asso¢:i.c;tion shall invest in the capital stock to a corporationgorganired nnder the law of any State to conducts safesdeposxtausiness in an amount in excess of 15 per centum of the capital; A 4 _,of_such association-~,actual1y {maid in and nmimpanreclv and 15 pe¤,oentum;of;,its imimpeirod surp u¤," Amended scum. so that the·subsect1on_as amended shall read as follows:. _ _· e _ xuamaa banklnz 1* Seventh, Toexercise by itsiboutdhof directors, orduly authorized l’°"°”‘ onicers or agents, sub]cct to law, all such incidental gowersa as shall be necessary tocarry on l3hQ_bllS1D6SS;·Qfrb8Dk.lHg‘; y discounting