Page:United States Statutes at Large Volume 48 Part 1.djvu/202

 176 73d CONGRESS. SESS. I. CFI. 89. JUNE 16, 1933. Lev y on class A " Whenever the net debit balance of the deposit insurance account stockholders . of the Corporation shall equal or exceed one fourth of 1 per centum of the total deposit liabilities of all class A stockholders as of the date of the last preceding call report, the Corporation shall levy upon such stockholders an assessment equal to one fourth of 1 per Credit to insurance centum of their total deposit liabilities and shall credit the amount account. collected from such ass essment to su ch deposit in surance accoun t . Dividend pay me nt No bank which is a holder of class A stock shall pay any dividends by bank de nied until assessment paid . until all assessments levied upon it by the Corporation shall have been paid in full ; and any director or officer of any such bank who Penalty provision . participates in the declaration or payment of any such dividend may, upon conviction, be fined not more than $1,000, or imprisoned for not more than one year, or both. "Receiver ", con- "The term `receiver' as used in this section shall mean a receiver, str ued liquidating agent, or conservator of a national bank, and a receiver . liq uida ting age nt, cons erva tor, com miss ion, per son, or othe r ag ency charged by State law with the responsibility and the duty of winding up the affairs of an insolvent State member bank . "National bank ." " For the purposes of this section only, the term `national bank' shall include all national banking associations and all banks, banking associations, trust companies, savings banks, and other banking insti- tutions located in the District of Columbia which are members of State ba nk ." member the, Federal Reserve System ; and the term `State member bank' shall include all State banks, banking associations, trust companies, savings banks, and other banking institutions organized under the laws of any State, which are members of the Federal Reserve System . Amounts of deposits, 44 In any determination of the insured deposit liabilities of any payable in for eig n country determining in closed bank or of the total deposit liabilities of any bank which is determmi total de- post liabilitie s . a holder of class A stock of the Corporation, or a member of the Fund provided for in subsection (y), for the purposes of this section, there shall be excluded the amounts of all deposits of such bank which are payable only at an office thereof located in a foreign country . Rules, etc ., by Cor- " The Corporation may make such rules, regulations, and contracts poration. as it may deem necessary in order to carry out the provisions of this section. De posi tor i nves tment "Money of the Corporation not otherwise employed shall be •ney by Corpora- tion . invested in securities of the Government of the United States, except that for temporary periods, in the discretion of the board of directors, funds of the Corporation may be deposited in any Federal reserve bank or with the Treasurer of the United States . Designation of Cor- When designated for that purpose by the Secretary of the Treasury, por ati on as public moneys depositary . the Corporation shall be a depositary of public moneys, except receipts from customs, under such regulations as may be prescribed by the said Secretary, and may also be employed as a financial agent of the Government . It shall perform all such reasonable duties as depositary o f public mone ys and financ ial agent of t he Government as may be required of it . Authority of Corpo- "(m) Nothing herein contained shall be construed to prevent the ratio n to make loan s to p national banks, etc. Corporation from making loans to national banks closed by action of the Comptroller of the Currency, or by vote of their directors, or to State member banks closed by action of the appropriate State author ities, or by vote of their direct ors, or from e nterin g into nego- tiations to secure the reopening of such banks. Sale of assets of in. "(n) Recei vers o r liqu idato rs of member banks whic h are now solvent banks to Cor- poration . or may hereafter become insolvent or suspended shall be entitled Permission required. t o offer the assets of such banks for sale to the Corporation or as security for loans from the Corporation, upon receiving permission