Charles City intelligencer. [volume] (Charles City, Floyd County, Iowa) 1864-1866, 1864-08-18

such person or corporation III the
assessment of taxes imposed by or nm
der State authority at the place where
such bank is located and not else
where, but not at greater rate than
is assessed upon other moncyed capl-
tai in the hands Of individual citizens
Of such State Prorided, further, That
the tax so imposed under the laws OF
any State upon the shares of any OF
the associations authorized by this
act shall not exceed the rate imposed
upon the shares in any OF the banks
organized under authority of the State
where such association is located !:
Prorided also, That nothing in this
act shall exempt the real estate OF as
sociations from either State, county,
or municipal taxes to the same extent,
according to its value, as other real
estate is taxed.
Sec. AZ. And be it further enacted,
That any association may 60 into
liquidation and be closed by the vote
of its shareholders owning two-thirds
Of its stock. And whenever such vote
shall be taken it shall be the duty OF
the board of directors to cause notice
Of this fact to be certified, under the
seal Of the association, by its presl-
dent or cashier, to the Comptroller OF
the Currency, and publication thereof
to be made for period of two months
in newspaper published in the city
of New York, and also in newspa.
per published in a city or town in
which the association is located, and
If no newspaper be there published,
then in the newspaper published near.
est thereto, that said association is
closing up it's affairs, and notifying
the holders of its notes and other credi.
tors to present the notes and other
claims against the association fol
payment. Aud at any time after the
expiration of one year from the time
of the publication of such notice as
aforesaid, the said association may
pay over to the Treasurer Of the Uni
ted States the amount of its outstand-
ing notes in the lawful money of the
United States, and take up the bonds
which said association has on deposit
with the Treasurer for the security OF
its circulating notes; which bonds
shall be assigned to the bank in the
manner specified in the nineteenth sec
ton Of this act, and from that time
the outstanding notes of said associa'
ton shall be redeemed at the Treasu.
ry of the United States, and the sale
association and the shareholders there
Of shall be discharged for all liabili
ties therefor.
Sec. 43. And be it further enacted
That the Treasurer, on receiving from
an association lawful money for the
payment and redemption of its out
standing notes, as provided for in the
preceding section of this act, shall
execute duplicate receipts therefor
one to the association and the Other
to the Comptroller of the Currency
stating the amount received by him
and the purpose for which it has been
received, which amount shall be paid
into the Treasury of the United States,
and placed to the credit of such asso.
citation upon redemption account.
And it shall be the duty of the Treasu.
rer, whenever he shall redeem any oil
the notes of said association, 10 cause
the same to be mntilated, and charged
to the redemption account of said asso
citation and all notes SO redeemed
by the Treasurer shall, every three
months, be certified to and burned in
the manner prescribed in the twenty
fourth section Of this act.
Sec. A. And be it further enacted
That any bank Incorporated by spe
cial law, or any banking institution
organized under a general law of any
State, may, by authority of this act
become a national association updel
it's provisions, by tho name prescribed
in its organization certificate anc
in such case the articles of association
and the organization certificate requir
ed by this act may he executed by q
majority of the directors of the bank
or banking institution ; and said Ger
tficate shall declare that the owners
of two-thirds OF the capital stock have
authorized the directors to make such
certificate and to change and convert
the said bank or banking institution
into a national association under this
act. And a majority of the directors
after executing said articles of associ
alton and organization certificate
shall have power 10 execute all othe
papers, and to do whatever may b,
required to make its organization per
feet and complete as national asso
citation. The shares of any such bank
may continue to be for the same
amount each as they were before said
conversion, and the directors aforesaid
may be the directors Of the associa
ton until others are elected or appoint
cd in accordance with the provisions
If this act and any State bank which
is stakeholder in any other bank. BY
authority Of State laws, may continue
to hold its stock, although either bank
or both, may be organized under and
have accepted the provisions of this
act. When the Comptroller shall give
10 such association certificate, un
der his hand and official seal, that the
provisions of this act have been com,
piled with, and that it is authorized to
commence the business of banking un
der it, the association shall have thu
same powers and privileges, and sbal
he subject to the same duties, re
sponsibilities, and rules, in all re
spects as are prescribed in this act
for other associations organized under
it, and shall be held and regarded as
an association under this act: Prori.
ded ho,eerer, That no such association
shall have less capital than the
amount prescribed for banking asso.
Citations under this act.
Sec. As. And be it further enacted,
That all associations under this act
when designated for that purpose by
the Secretary of the Treasury, shall
he deposiiaries OF public money. ex
cept receipts from customs. under
such regulations as may be prescrib
ed by the Secretary and they may
also be employed as financial agent,
of the Government and they shall
porrorn, all cuch aacopa hla dntipa nj