Page:United States Statutes at Large Volume 44 Part 2.djvu/1267

 SIXTY-NINTH CONGRESS. Sass. II. CH. 191. 1927. 1227 and negotiating promissory notes, drafts, bills of exchange, and other evidences of debt; y receiving deposits; by buying and selling exchange, coin, and bullion; by loaning money on personal security; and y obtaining issuing, and circulating notes according to thgprovisions of this title: Provided, That the business of buying P~¤¢•~. and ing investment securities shall hereafter be limited to buying ¤i ii:¤ril°¢vri$$ and selling without recourse marketable obligations evidencing °"· indebtedness of any copartnership, association, or corpora- tion, in the form 0 bonds, notes and/or debentures, commonly known as investment securities, under such further definition of the term ‘ investment securities ’ as may by relgulation be prescribed b the Comptroller of the Currency, and t e total amount of such 0b·},i¤gr°,}¤¤¤;{°d¤f <>¤· investment securities of any one obligor or maker held by such ` association shall at no time exceed 25 per centum of the amount of the capital stock of such association actually aid in and unimpaired FN<>¢ apgumblo to and 25 per centum of its unimpaired surplus iimd, but this limitation °i§°ii§$i6m, °°°”’ °°°" as to total amount shall not apply to obligations of the United States, or general obligations o  any State ·or of any political subdivision thereof, or obligations issued under authority of the Federal Farm Loan Act: And promkled further trauma carrying ,,,“g',§‘,§”’?,§,§,*’},,§,?d${ on the business commonly known as the safe deposit business no <>¤¤><>¤~¤¤¤¤ www- such association shall invest in the capital stock of a corporation organized under the law of any State to conduct a safe deposit business in an amount in excess of 15 per centumof the ca ital stock of such association actually paid 1n and unimpaired ang 15 per centum of its unimpaired surplus. “ But no association shall transact any business except such as is m;}{;§=g,§*Y 0* C¤¤¤h§ incidental and necessarily preliminary to its organization, until it busses. has been authorized by the Comptro ler of the Currency to com- mence the business of banking." ‘ Sno. 3. That section 5137 of the Revised Statutes of the United T Rm ¤*°P°**¥ ¤°l<l· States, subsection “ First " thereof, be amended to read as follows: [AEI s. M. am. p. W3. " First. Such as shall be necessary for its accommodation in the °°i}°i°¤i§géw to mm. transaction of its business." ¤*°°*’·° bmw- Snc. 4. That section 5138 of the Revised Statutes of the United ` ghgital mk. States, as amended, be amended to read as follows: ‘ .me}i.iAd°?°m°' °‘°°°' " Sac. 5138. No national banking association shall be organized $§_°,;§“§,_"§_°g’,§_§,f{,’;,_ with a less capital than $100,000, except that such associations with M1- ' a capital of not less than $50,000 may, with the approval of the Secretary of the Treasury, be organized in any place the_ pula· I¤¤¤¤¤¤¤r:>1¤<=¤¤· tion of which does not exceed six thousand inhabitantsé andpgxcept that such associations with a capital of not less than 25$)00`may, with the sanction of the Secretary of the Treasury be organized in any place the lpopulation of which does not exceed three thousand inha itants. o such association shall be organizedin a city the mIg0{’,°P¤l·°°¤ ·¤¤¤•<¤ population of which exceeds fifty thousand persons. with a capital ' ` of less than $200,000, except that in the outlyingdistrictsu of such a °°“¥*¤¢ d*¤“*°*¤· city where the State laws permit the organization of Statebanks with a capital of $100,000 or lem, nationa banking associations now organized or hereafter organized may,. with the approval of the g0m g}8YI of the Currency, have a capital ‘ of not less than Sac. 5, That section 5142 of the Revised Statutes of the United §§°gf°:§c_°,§,'j‘,'P’p°“,;,,_ States, as amended, be amended to read as follows: 1 nmwdéd. ` “ Sno. 5142;  national banking association may, with the Autiprired to ng; alpproval of the omptroller or the Currency, and by a vote of $ii:°$:£5¤gHa?i§·r$¤w s areholders owning two-thirds of the stock of such associations, °' ‘*’°‘°"°*‘*°”· increase its capital stock to any sum alpproved by the said com — troller, but no increase in capital sha be valid until the whole coauxam.