Page:United States Statutes at Large Volume 49 Part 1.djvu/765

 720 74Ta CONGRESS. SESS. I. CSI. 614. AUGUST 23, 1935 . in section 2 thereof after "the words `United States the follow- ing : "the words `Deposit Insu ran ce"' ; and by inse rting in said section after the words " the laws of the United States", the follow- i ng : "nor to any n ew bank organized by the Federal Deposit Insur- ance Corporatio n as provided in section 12B of t he Federal Reserv e Act, as amended," ; and by striking out the period at the end of section 4 and inserting the following : "or the Federal Deposit Insurance Corporation ." SEC . 333 . The Act entitled "An Act to provide punishment for certain offenses committed against banks organized or operating under laws of the Uni ted Stat es or any member of the Federal Reserve System ", approved May 18, 1934 (48 Stat . 783), is amended by striking out the period after " United States " in the first section thereof and inserting the following : "and any insured bank as defined in subsection (c) of section 12B of the Federal Reserve Act, as amended ." SeC. 334. Section 5143 of the Revised Statutes, as amended, is hereby amended b y strikin g out ever ything fol lowing th e words " Comptroller of the Currency ", where such words last appear in such section, and substituting the following : "and no shareholder shal l be entit led to any distr ibuti on of cash or ot her as sets by re ason of any reduction of the common capital of any association unless such distribution shall have been approved by the Comptroller of the Cur- rency and by the affirmative vote of at least two-thirds of the shares of each class of stock outstanding, votin g as classes ." SEC . 335. Section 5139 of the Revised Statutes, as amended, is amended by adding at the end of the first paragraph the following new paragraph : National bank stock " Certificates hereafter issued representing shares of stock of the certificates ; requ ire- ments respecting can- association shall state (1) the name and location of the association, tents and issue. (2) the name of the holder of record of the stock represented thereby, (3) the number and class of shares which the certificate represents, and (4) if the association shall issue stock of more than one class, the respective rights, preferences, privileges, voting rights, powers, restrictions, limitations, and qualifications of each class of stock issued shall be stated in full or in summary upon the front or back of the certificates or shall be incorpor ated by a referen ce to the articles of association set forth on the front of the certificates. Every certificate shall be signed by the president and the cashier of the as sociat ion, or by such other offi cers as the byla ws of the a ssoci ation shall provide, and shall be sealed with the seal of the association ." SEC. 336 . The last sentence of section 301 of the Emergency Bank- ing and Bank Conservati on Act, approved March 9, 1933, as amended, is amended to read as follows : " No issue of preferred stock shall be valid until the par value of all stock so issued shall be paid in and notice thereof, duly acknowledged before a notary public by the president, vice president, or cashier of said association, has been transmi tted to the Comp troller of the Cu rrency and his ce rtificate obtained specifying the amount of such issue of preferred stock and his approval thereof and that the amount has been duly paid in as a part of the capital of such association ; which certificate shall be deemed to be conclusive evidence that such preferred stock has been duly and validly issued ." Banks in District of SEC. 337 . The additional liability imposed by section 4 of the Act Columbia . 47, p . 1566; Vol . of March 4, 1933, as amended (D . C . Code, Supp . I, title 5, see. 300a), 31, p .1307. Additional liability upon the shareholders of savings banks, savings companies, and on sh areho lders . banking institutions and the additional liability imposed by section 734 of the Act of March 3, 1901 (D. C. Code, title 5, sec. 361), upon the shareholders of trust companies, shall cease to apply on July 1, Use of words "de- posit insurance" ; false adv ertis ing . Vol.48, p. 783. Punishment for cer- tain offenses against banks . "Bank" construed . R. S ., sec. 5143, p. 994;U.S.C.,p.357. Vol.38, p. 274. Reduction of capital stock by associations . Distribution to sha rehol ders ; approval required . R. S., sec. 5139, p. 993;U.S.C.,p.356. Si gn atu res required . Vol.48,p.148;U.S. C.,p.355. Pre ferre d stock of national banking asso- ciations . Approv al of iss ue re- quired.