Page:United States Statutes at Large Volume 47 Part 1.djvu/34

 10 72d CONG RESS. SESS. I. CH. 8. JANUARY 22, 1932 . Real property 01- authority ; except that any real property of the corporation shall be subject to State, Territorial, county, municipal, or local taxation to the same extent according to its value as other real property is taxed. Preparation ofdeben- SEC. 11 . In order that the corporation may be supplied with such tore, bond, and note forma. forms of notes, debentures, bonds, or other such obligations as it may need for issuance under this Act, the Secretary of the Treasury is autho rized to pre pare such f orms a s shal l be suitab le and appro ved by the corporation, to be held in the Treasury subject to delivery, upon order of the corporation. The engraved plates, dies, bed pieces, and so forth, executed in connection therewith shall remain in the custody of the Secretary of the Treasury. The corporation shall reimburse the Secretary of the Treasury for any expenses incurred in the preparation, custody and delivery of such notes, debentures, bonds, or other obligations. SEC. 1 2 . When designated for that purpose by the S ecretary of the Treasury, the corporation shall be a depositary of public money, except receipts from customs, under such regulations as may be prescribed by said Secretary ; and it may also be employed as a As financial agent. financial agent of the Government ; and it shall perform all such reasonable duties, as depositary of public money and financial agent Corporate obl tga - tf onses inves tmen ts ' Of the Government, as may be required of it. Obligations of the corporation shall be lawful i nvestments, and may be accepted as security, for all fiduciary, trust and public funds the investment or deposit of which shall be under the authority or control of the Unit ed States or any officer o r office rs there of. Liquidation of asse ts by Direc tors upon ex- SEC. 1 3 . Upon the expiration of the period of one year within piration of loan period which the corporation may make loans or of any extension thereof tension . . by the President under the authority of this Act, the board of direc- tors of the corporation shall, except as otherwise herein specifically authorized, proceed to liquidate its assets and wind up its affairs. Deposit of funds for It may with the approval of the Secretary of the Treasury deposit payment orobligations. with the Treasurer of the United States as a special fund any money belonging to the corporation or from time to time received by it in the course of liquidation or otherwise, for the payment of principal and interest of its outstanding obligations or for the purpose of redemption of such obligations in accordance with the terms thereof, which fund may be drawn upon or paid out for no other purpose. The corporation may also at any time pay to the Treasurer of the Unit ed St ates as misce llan eous rece ipts any mone y bel ongi ng to the corporation or from time to time received by it in the course of liqu idati on o r ot herwi se i n exc ess of re ason able amou nts reser ved, to meet its requirements during liquidations. Upon such deposit being made, such amount of the capital stock of the corporation as may be specified by the corporation with the approval of the Secre- tary of the Treasury but not exceeding in par value the amount so paid in shall be canceled and retired. Any balance remaining after the liquidation of all the corporation's assets and after provision has been made for payment of all legal obligations of any kind and char- deter shall be paid into the Treasury of the United States as miscel- laneo us rec eipts. Ther eupo n the cor pora tion shal l be diss olved and the residue if any, of its capital stock shall be canceled and retired. SEC. 14. If at the expiration of the ten years for which the cor- poration has successsion hereunder its board of directors shall not have completed the liquidation of its assets and the winding up of its affairs, the duty of completing such liquidation an d winding up of its affairs shall be transferred to the Secretary of the Treasury who for such purpose shall succee$ to all the powers and duties ol the board of directors of the corporation under this Act. In such C ustody of engraved plates, etc. Reimbursement for expenses. Corporation as de. positary of public money. Deposit of excess funds. Retirement of cor. porate capital stock. Balance paid in to Trea sury as m iscel la- neous receipts. Ifissolution of cor- poration and retire- ment of residue of capi- talstock. Duty of liQutdat ion transferred to Secretary of the Treasury after
 * 01= 0

0n . Pe eriio o rp ora te