Page:United States Statutes at Large Volume 49 Part 1.djvu/764

 74TH CONGRESS. SESS. I. CH. 614. AUGUST 23, 1935 . 719 shareholder or has given notice in writing at or prior to such meeting to the presiding officer that he dissents from the plan of consolida- Entitlement to value tion, shall be entitled to receive the value of the shares so held by him of shares held . if and when said consolidation shall be approved by the Comptroller of the Currency, such value to be ascertained as of the date of the Comptroller's approval ". (b) Such section 1 is further amended by adding at the end thereof the following paragraphs "Publication of notice and notification by registered mail of the Notice of meetings. meeting provided for in the foregoing paragraph may be waived by unanimous action of the shareholders of the respective associations. Where a dissenting shareholder has given notice as above provided Appointment of ap to th e association of which he i s a sharehold er of his dis sent from the praiser. plan of consolidation, and the directors thereof fail for more than thi rty days thereaf ter to a ppoint a n apprai ser of t he value of his shares, said shareholder may request the Comptroller of the Cur- rency to appoint such appraiser to act on the appraisal committee for and on behalf of such association. "If shares, when sold at public auction in accordance with this shares; appraisal; sale section, realize a price greater than their final appraised value, the mnttose~holderr excess in such sale price shall be paid to the shareholder . The Con- Lia bility of con soli- dated association shall be liable for all liabilities of the respeC- hen appraisers fail tive consolidating associations . In the event one of the appraisers to agree . fails to agree wit h the others a s to the valu e of said sha res, then the valuation of the remaining appraisers shall govern ." SEC. 331. (a) Section 3 of the Act of November 7, 1918, as amended Vol.41,p.1225;U.S. (U. S. C., Supp. VII, title 12, sec . 34 (a) ), is amended by striking C., p. 353 . out the first sentence following the proviso down to and including the st o tiak,dett .`,on o words " to be ascertained " and inserting in lieu thereof the follow- national bank. ing : "If such consolidation shall be voted for at said meetings by the necessary majorities of the shareholders of the association and of the State or other bank proposing to consolidate, and thereafter t he conso lidation shall b e approv ed by th e Comptr oller of the Cur - rency, any shareholder of either the association or the State or other Dissenting share- bank so consolidated, who has voted against such consolidation at holder, the meeting of the association of which he is a stockholder, or has given notice in writing at or prior to such meeting to the presiding officer that he dissents from the plan of consolidation, shall be entitled ofs ]Entitl ement to value to receive the value of the shares so held by him if and when said consolidation shall be approved by the Comptroller of the Currency, such value to be ascertained as of the date of the Comptroller's approval." (b) Such section 3 is further amended by adding at the end thereof the following paragraph " Where a dissenti ng share holder h as given notice as provi ded in pr a ippoi ntmen t of ap. this section to the bank of which he is a shareholder of his dissent fr om the plan o f consolidatio n, and the di rectors there of fail for mo re than thirty days thereafter to appoint an appraiser of the value of his shares, said shareholder may request the Comptroller of the Currency to appoint such appraiser to act on the appraisal committee for and on behalf of such bank . In the event one of the appraisers fails to When appraisers fa il agree with t he others as t o the value o f said shares, then the val uation to agree . of the remaining appraisers shall govern ." SEC. 332 . The Act entitled "An Act to prohibit offering for sale as c ool . ƒi, p. 628; U. S. Federal farm-loan bonds any securities not issued under the terms of 'i7x pclu08ve use of the Farm Loan Act, to limit the use of the words `Federal', `United terms . S tates', or `rese rve', or a combi nation o f such w ords, to prohibi t false advertising, and for other purposes", approved May 24, 1926 (U. S . C., Supp . VII, title 12, sees . 584-588), is amended by inserting