Page:United States Statutes at Large Volume 48 Part 1.djvu/31

 73d CONGRESS. SESS. I. CH.1. MARCH 9, 1933 . 5 SEa. 209 . Conservators appointed pursuant to the provisions of this conservators. title shall be subject to the provisions of and to the penalties pre- u sc see- 5209, p4 75 1007 ; scribed by section 5209 of the Revised Statutes (U . S . C ., Title 12, Vol.35,p. 1108. sec . 592) ; and sections 112, 113, 114, 115, 116 and 117 of the Criminal Vol.40,p. 972. Code of the United States (U . S . C ., Title 18, sees . 202, 203, 204, 205, 206 and 207), in so far as applicable, are extended to apply to con- tracts, agreements, proceedings, dealings, claims and controversies by or with any such conservator or the Comptroller of the Currency under the provisio ns of thi s title. SEC. 210 . Nothing in this title shall be construed to impair in any etcono Powers Pre sid en t, manner any powers of the President, the Secretary of the Treasury, the Comptroller of the Currency, or the Federal Reserve Board. SEC. 211 . The Comptroller of the Currency is hereby authorized Ru les to be pre- and empowered, with the approval of the Secretary of the Treasury, scribed. t o prescribe such rules and regulations as he may deem necessary in order to carry out the provisions of this title. Whoever violates any rule or re gulat ion made pursu ant to th is se ction sha ll be deem ed guilty of a misdemeanor and, upon conviction thereof, shall be fined not mor e than $5,00 0, or impris oned n ot more than one ye ar, or both. TI TLE III SEC. 301 . Notwithstanding any other provision of law, any national p banks Preferred banki ng as socia tion may, with the appr oval of th e Co mptro ller of Past, p . 147. the Currency and by vote of shareholders owning a majority of the s Issueiof, by vote of stock of such association, upon not less than five days' notice, given by registered mail pursuant to action taken by its board of directors, issue preferred stock in such amount and with such par value as shall etc mount, par value, be approved by said Comptroller, and make such amendments to its articles of association as may be necessary for this purpose the case of any newly organized national banking association which has not yet issued common stock, the requirement of notice to and vote of shareholders shall not apply. No issue of preferred stock Payment. shall be valid until the par value of all stuck so issued shall be paid in. SEc. 302. (a) The holders of such preferred stock shall be entitled Dividends. to cumulative dividends at a rate not exceeding 6 per centum per Post, p. 148. annum, but shall not be held individually responsible as such holders holders. Liability of share. for any debts, contracts, or engagements of such association and shall not be liable for assessments to restore impairments in the capital of such association as now provided by law with reference to holders of comm on sto ck. Notwithstanding any other p rovision of law, the Voting rights . holders of such preferred stock shall have such voting rights, and such stock shall be subject to retirement in such manner and on such Retirement provi. terms and conditions, as may be provided in the articles of associa- sions. tion with the approval of the Comptroller of the Currency. (b) No dividends shall be declared or paid on common stock until priority the cumulative dividends on the preferred stock shall have been paid in full ; and, i f the ass ociation is placed in volun tary liqu idation o r a conservator or a receiver is appointed therefor, no payments shall be made to the holders of the common stock until the holders of the preferred stock shall have been paid in full the par value of such stock plus all accumulated dividends. SEo. 303 . The term "common stock" as used in this title means Def ini tio ns. stock of national banking associations other than preferred stock "comm on S tock .' issued under the provisions of this title . The term "capital" as used "capital ." in provisions of law relating to the capital of national banking asso- ciations shall mean the amount of unimpaired common stock plus
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