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12 U.S.C. § 199 — Approval of request
Federal law — U.S. Code and appendices · legal_authorities
Such request, if approved by the Comptroller of the Currency, shall be, together with the certificate of facts in the case, and his recommendation as to the amount of money which, in his judgment, should be so used and employed, submitted to the Secretary of the Treasury, and if the same shall likewise be approved by him, the request shall be by the Comptroller of the Currency allowed, and notice thereof, with copies of the request, certificate of facts, and indorsement of approvals, shall be filed with the Treasurer of the United States.
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Source file: Laws/federal/codes/united-states-code/title-12/section-199-approval-of-request--b9397e6fa2.md
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Source location: Title 12, Chapter 2, § 199; chapter-002-national-banks.md
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Such request, if approved by the Comptroller of the Currency, shall be, together with the certificate of facts in the case, and his recommendation as to the amount of money which, in his judgment, should be so used and employed, submitted to the Secretary of the Treasury, and if the same shall likewise be approved by him, the request shall be by the Comptroller of the Currency allowed, and notice thereof, with copies of the request, certificate of facts, and indorsement of approvals, shall be filed with the Treasurer of the United States.
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Federal law — U.S. Code and appendices · legal_authorities
Every association which shall have failed to pay up its capital stock, as required by law, and every association whose capital stock shall have become impaired by losses or otherwise, shall, within three months after receiving notice thereof from the Comptroller of the Currency, pay the deficiency in the capital stock, by assessment 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 any such association, upon notification from the Comptroller of the Currency, until otherwise notified by him. If any such association shall fail to pay up its capital stock, and shall refuse to go into liquidation, as provided by 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 provisions of [section 192 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section192&num=0&edition=prelim). And provided, That if any shareholder or shareholders of such bank shall neglect or refuse, after three months’ notice, to pay the assessment, as provided in this section, it shall be the duty of the board of directors to cause a sufficient amount of the capital stock of such shareholder or shareholders to be sold at public auction (after thirty days’ notice shall be given by posting such notice of sale in the office of the bank, and by publishing such notice in a newspaper of the city or town in which the bank is located, or in a newspaper published nearest thereto,) 11 So in original. to make good the deficiency, and the balance, if any, shall be returned to such delinquent shareholder or shareholders.
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Federal law — U.S. Code and appendices · legal_authorities
Page 68
TITLE 12—BANKS AND BANKING
§ 199
Statutory Notes and Related Subsidiaries
APPLICATION TO DISTRICT OF COLUMBIA
Provisions of this section were made applicable to
banks, etc., in the District of Columbia by act Mar. 4,
1933, ch. 274, § 4, 47 Stat. 1567.
Executive Documents
EXCEPTION AS TO TRANSFER OF FUNCTIONS
Functions vested by any provision of law in Comp-
troller of the Currency, referred to in this section, not
included in transfer of functions to Secretary of the
Treasury, see note set out under section 1 of this title.
§ 199. Approval of request
Such request, if approved by the Comptroller
of the Currency, shall be, together with the cer-
tificate of facts in the case, and his rec-
ommendation as to the amount of money which,
in his judgment, should be so used and em-
ployed, submitted to the Secretary of the Treas-
ury, and if the same shall likewise be approved
by him, the request shall be by the Comptroller
of the Currency allowed, and notice thereof,
with copies of the request, certificate of facts,
and indorsement of approvals, shall be filed with
the Treasurer of the United States.
(Mar. 29, 1886, ch. 28, § 2, 24 Stat. 8.)
Statutory Notes and Related Subsidiaries
APPLICATION TO DISTRICT OF COLUMBIA
Provisions of this section were made applicable to
banks, etc., in the District of Columbia by act Mar. 4,
1933, ch. 274, § 4, 47 Stat. 1567.
Executive Documents
TRANSFER OF FUNCTIONS
For transfer of functions to Secretary of the Treas-
ury, see note set out under section 55 of this title.
§ 200. Payment
Whenever any such request shall be allowed as
hereinbefore provided, the said Comptroller of
the Currency shall be, and is, empowered to
draw upon and from such funds of any such trust
as may be deposited with the Treasurer of
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 199
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