Digest of Rulings of the Federal Reserve Board (1914-1927, Inclusive): With Appendices Containing Text of Federal Reserve Act, Regulations of Federal Reserve Board, National Bank Act, Instructions of Comptroller of the Currency and Related MattersU.S. Government Printing Office, 1928 - 774 pages |
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Common terms and phrases
13 Stat Act June aggregate amended amount application appointed assets authorized bank or trust bills of exchange board of directors bonds branch Bulletin capital and surplus capital stock cashier cent centum certificate checks circulating notes Comptroller consolidated corporation court Currency December 23 deposits discount dividend drafts drawn eligible for rediscount employee exchange drawn February 25 Federal reserve act Federal reserve agent Federal reserve bank Federal Reserve Board Federal reserve notes Federal reserve system fiduciary foreign funds gold held hereby indorsement investment issued liability limitation liquidation loan maturity member bank national bank act national banking association nonmember bank number of shares obligations officer organization certificate organized paid payable payment permit person prescribed provisions of section purchase purpose real estate receive regulations reserve city Revised Statutes Secretary section 13 secured shareholders thereof tion trade acceptance transaction Treasury trust company United vote warehouse receipts XI(k XIII-C
Popular passages
Page 314 - ... shall be held individually responsible, equally and ratably, and not one for another, for all contracts, debts, and engagements of such association to the extent of the amount of their stock therein at the par value thereof, in addition to the amount invested in such shares...
Page 480 - No association shall make any loan or discount on the security of the shares of its own capital stock, nor be the purchaser or holder of any such shares, unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith...
Page 481 - No association, or any member thereof, shall, during the time it shall continue its banking operations, withdraw, or permit to be withdrawn, either in the form of dividends or otherwise, any portion of its capital.
Page 371 - ... upon the order of a court of record of competent jurisdiction, may sell or compound all bad or doubtful debts, and, on a like order, may sell all the real and personal property of such association, on such terms as the court shall direct; and may, if necessary to pay the debts of such association, enforce the individual liability of the stockholders.
Page 249 - States, either directly or through the agency, ownership, or control of local institutions in foreign countries, or in such dependencies or insular possessions...
Page 309 - That from and after two years from the date of the approval of this Act no person at the same time shall be a director in any two or more corporations, any one of which has capital, surplus, and undivided profits aggregating more than $1,000,000...
Page 314 - INDIVIDUAL LIABILITY OF SHAREHOLDERS— LIABILITY OF SHAREHOLDERS WHO HAVE TRANSFERRED THEIR SHARES. 1913* se?6^- "is 233. Sec. 23. — The stockholders of every national stat. L., 273 ' banking association shall be held individually responsible for all contracts, debts, and engagements of such association, each to the amount of his stock therein, at the par value thereof in addition to the amount invested in such stock.
Page 300 - To grant by special permit to national banks applying therefor, when not in contravention of State or local law, the right to act as trustee, executor, administrator, registrar of stocks and bonds, guardian of estates, assignee, receiver committee of estates of lunatics, or in any other fiduciary capacity...
Page 423 - Each director, when appointed or elected, shall take an oath that he will, so far as the duty devolves on him, diligently and honestly administer the affairs of such association...
Page 349 - And if losses shall at any time have been sustained by any such association equal to or exceeding its undivided profits then on hand, no dividend shall be made ; and no dividend shall ever be made by any association, while it shall continue its banking operations, to an amount greater than its net profits then on hand, deducting therefrom its losses and bad debts.