The Albany register. [volume] (Albany, Or.) 1868-18??, 1873-07-11
General Naturc-No 97.1
AN ACT TO require national banks to
store their eapital when IMPAIRED, q

l(ICner0I Naturc-NO. W.
AN ACT TO require national banks to re-
store their capital when impaired, and
to amend the ational-currency act.
Be IL enacted by the Senate and House Of
Representatives Of the United States Of Anler-
icd in Congress assembled, That all national
banks which shall have failed to pay up
their capital stock, as required by law,
and all national banks whose capital stock
shall have become impaired by losses or
otherwise, shall. within three months after
receiving notice thereof from the Comp
troller of the Currency, he required to pay
the deficiency in the capital stock by as
sessment upon the shareholders, pro rata,
for the amount of capital stock held by
each; and the Treasurer, of the United
States shall withhold the interest upon all
bonds held by him in trust for such asso-
citation, upon notification from the Comp
troller of the Currency, until Otherwise
notified by him: and ii such banks shall
fail to nay up their capital stock, ana shall
refuse 10 go into liquidation. as provided
bv law, for three months after receiving
notice from the Comptroller, a receiver
may be appointed to close up the business
of the association, according to the provis-
ions of the tittieth section of the national
currency act.
Sec. 2. That section fifty-seyen of said
act be amended by adding thereto the fol-
lowing: "And pr0Uided 6HthT, That no at-
tachmcnt, injunction, or execution shall
be issued against such association or Its
property, before final Judgment in any
such suit, action or proceeding in any
State, county, or municipal court"
Sec. 3. That all banks not organized and
transacting business under the national
ny,, ,Ix,u upf aud nj pnnlnunipl
or corporations doing the business OF
bankers, brokers, or savings institutions,
except saving-banks authorized by Con-
gress 10 use the word "national" as part
of their corporate name, are prohibited
from using the word "nationaln as por-
tion OF the name or title of such bank, cor
p0ration, firm, or partnership; and every
such bank corporation, or firm, which
shall use the word ''nationaln as a portion
OF their corporate title or partnership
name six months after the passage OF this
act, shall be subject to penalty Of fifty
dollars for each day thereafter in which
such word shall he employed rs aforesaid
as part of such corporate name or title,
such penalty to he recovered by action In
any court having jurisdiction.
Sec. 4. That it shall be the duty of the
Comptroller of the Currency to cause TO be
examined each year the plates, dies, but.
pieces, and other material from which the
national-bank circulation Is printed in
whole or In part, and file in his office AN
nually q correct list OF the same; and such
material as shall have been used in the
printing of the notes of national banks
which are in liquidation, or have closed
business, shall be destroyed under such
regulations as shall be prescribed by the
Comptroller of the Currencyand approved
by the Secretary of the Treasury and the
expense of such examination and destruc-
tion shall be paid out Of any appropriation
made by Congress for the special exRminar
tiOn OF national banks and bank plates.
ApprOvedy March 8, 1873.