Source: https://www.law.cornell.edu/uscode/text/12/192?qt-us_code_tabs=2
Timestamp: 2016-02-08 10:23:21
Document Index: 317398478

Matched Legal Cases: ['§ 192', '§ 192', '§ 192', '§\u202f192', '§\u202f5234', '§\u202f339', '§\u202f17', '§\u202f602', '§\u202f602', '§\u202f1811', '§\u202f5234', '§\u202f50']

12 U.S. Code § 192 - Default in payment of circulating notes | US Law | LII / Legal Information Institute
U.S. Code › Title 12 › Chapter 2 › Subchapter XIII › § 192 12 U.S. Code § 192 - Default in payment of circulating notes
§ 192.
Default in payment of circulating notes
On becoming satisfied, as specified in sections 131 and 132 [1] of this title, that any association is in default, the Comptroller of the Currency may forthwith appoint a receiver, and require of him such bond and security as he deems proper. Such receiver, under the direction of the Comptroller, shall take possession of the books, records, and assets of every description of such association, collect all debts, dues, and claims belonging to it, and, 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. Such receiver shall pay over all money so made to the Treasurer of the United States, subject to the order of the Comptroller, and also make report to the Comptroller of all his acts and proceedings.
(R.S. § 5234; May 15, 1916, ch. 121, 39 Stat. 121; Aug. 23, 1935, ch. 614, title III, § 339, 49 Stat. 721; Pub. L. 86–230, § 17, Sept. 8, 1959, 73 Stat. 458; Pub. L. 103–325, title VI, § 602(g)(11), Sept. 23, 1994, 108 Stat. 2294.)
Sections 131 and 132 of this title, referred to in text, were repealed by Pub. L. 103–325, title VI, § 602(e)(14), (15), Sept. 23, 1994, 108 Stat. 2292.
Section 12B of the Federal Reserve Act, as amended, referred to in text, formerly classified to section 264 of this title, has been withdrawn from the Federal Reserve Act and incorporated in the Federal Deposit Insurance Act which is classified generally to chapter 16 (§ 1811 et seq.) of this title.
R.S. § 5234 derived from act June 3, 1864, ch. 106, § 50, 13 Stat. 114, which was part of the National Bank Act. See section 38 of this title.
1994—Pub. L. 103–325 struck out “has refused to pay its circulating notes as therein mentioned, and” before “is in default”.
1935—Act Aug. 23, 1935, inserted second proviso in second par.