7/27/2019 2 National Bank Act Pg 110

1/1

llO T HIRTY-EIG HTH CO.NGRESS. Sr.ss. I. Cn. 106. 1864.CoIoCUII ,"".. ideot ar cashier of such association; which report sball exh ibit in detail,port. and under appropriate heads, the rOTlf'Cell and liabilities of the ~ ation befote the commencement of business on tbe morning of tbe I I r ~ tMouday of the months of January, April, July, snd October of ucl! year,

and sh.lI t r a n s m i ~ Ole SlIme to lbe conlptrol1er witbiu live day. thereafter.ADd Any bank r,iling to make aild trallsmiL such )'(!port shall be .objectPeaalty for to II penally of one hundred do llars for each day af\er five day. that sudlfailing to ~ p o r t . report is delayed beyond that time. And the comptroller- sball publishabstracts of said report! in a newspaper to be designated by him for that~ p I T O t h : purpose in the city o(Washington, and tbe separate report of each asso-I"'blish .1At....... cial ion ,hall be published in a newspaper in the place wbeJ'1! such usoci.ution is established, or if there be no ne1fspaper at luch place, then in tonewspaper published at the nearest plRCt therelo, at the expense of theassociation muking such roport. I n addition to the q uarterly roPOI1il

n>quired I/y this section, every association .hall. on the first Tuesday ofeach mon th, make to the comptro ller of tbe cutrCoc1 a statement, uo derl\{oathly m .LI the OIIth of the president or Cltshier, showing the COI'Idilion of the assoc;amenta. lioll making such statement, on th e morning of the day next preoedingthe date of such st utemcn t, in respect 10 the following items and pIIrticu .lars. to Ivil : average arooont of loans Ilnd di3COunts, specie, and otherlawful money belonging to the ""OCiation, deposits, and cireuLatiou. Andassociations in other placcs than those ~ named in t4e thirty-firstsection of thia act shall aho re turn the amount due them available for!he redempt ion of their circnlation.

~ . I " " ' . SII.C. 3:'\. .And 1M it jUl'llirr t1IoctM, That no as&Ociation shall makei.,0lto Xu. 11 IIny 1000n or /lisenllnt on the security of the shares of its own capital stock, ~ ~ \ y ':4!: nor be the purclllti.er or holde r of any shares, unless sucb security0 ... . took, &oe. or purchase sh . ll he neeeSliary to prevent loss upon a d.ebt previouslyoo nl rllcted in good faith; IIm l ~ t o e k so pu rcbased or acquired a h l ' l l ~ withinsilo: months from Ibe time of il3 purchase, be sold or disposed of at publieor p"il'ale sale, in de fault of which A rMl!!iver mil, be appointed 10 closeup the business of the nssociarion, aecording to the provisious of this act.Indobtt4o... Sitc. 36. A nd h. it jur/J'tr ~ l I I l C u d T ha t no association shaU Many

nl..to ox""" tim e be iodebt.ed, or in any way liable, to an IIlIlount exceediog Ibe: : : : : - l : ~ I < , e::c- R m ~ " o . t ?f its capi tal stock at ~ time nctuRlly paid in IUId remain ing

und,mllllsl'ed by IOIII!!! Dr otherwl$e, except on !hP. follo Wng IICeOtlll1s,that is 10 $ay: -

~ t i ( > G .Dot to bypotheOR\