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12 U.S.C. § 65 — Repealed. Pub. L. 86–230, § 8, Sept. 8, 1959, 73 Stat. 457
Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, acts June 30, 1876, ch. 156, § 2, 19 Stat. 63; Sept. 3, 1954, ch. 1263, § 22, 68 Stat. 1234, related to enforcement of shareholders’ individual liability by creditors on liquidation. Limitation on liability of shareholders, see [section 64a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section64a&num=0&edition=prelim).
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Source file: Laws/federal/codes/united-states-code/title-12/section-65-repealed-pub-l-86230-8-sept-8-1959-73-stat-457--cba1ddc217.md
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Source location: Title 12, Chapter 2, § 65; chapter-002-national-banks.md
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### Statutory Notes
Section, acts June 30, 1876, ch. 156, § 2, 19 Stat. 63; Sept. 3, 1954, ch. 1263, § 22, 68 Stat. 1234, related to enforcement of shareholders’ individual liability by creditors on liquidation. Limitation on liability of shareholders, see [section 64a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section64a&num=0&edition=prelim).
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Federal law — U.S. Code and appendices · legal_authorities
The additional liability imposed upon shareholders in national banking associations by the provisions of sections 63 and 64 of this title shall not apply with respect to shares in any such association issued after June 16, 1933. Such additional liability shall cease on July 1, 1937, with respect to all shares issued by any association which shall be transacting the business of banking on July 1, 1937: Provided, That not less than six months prior to such date, such association shall have caused notice of such prospective termination of liability to be published in a newspaper published in the city, town, or county in which such association is located, and if no newspaper is published in such city, town, or county, then in a newspaper of general circulation therein. If the association fail 11 So in original. Probably should be “fails”. to give such notice as and when above provided, a termination of such additional liability may thereafter be accomplished as of the date six month 22 So in original. Probably should be “months”. subsequent to publication, in the manner above provided. In the case of each association which has not caused notice of such prospective termination of liability to be published prior to May 18, 1953, the Comptroller of the Currency shall cause such notice to be published in the manner provided in this section, and on the date six months subsequent to such publication by the Comptroller of the Currency such additional liability shall cease.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 64a
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The Comptroller of the Currency may, without prior notice or hearings, appoint a receiver for any national bank (and such receiver shall be the Federal Deposit Insurance Corporation if the national bank is an insured bank (as defined in [section 1813(h) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813/h&num=0&edition=prelim))) if the Comptroller determines, in the Comptroller’s discretion, that—
(1) 1 or more of the grounds specified in [section 1821(c)(5) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1821/c/5&num=0&edition=prelim) exist; or
(2) the association’s board of directors consists of fewer than 5 members.
**(b) Judicial review** If the Comptroller of the Currency appoints a receiver under subsection (a), the national bank may, within 30 days thereafter, bring an action in the United States district court for the judicial district in which the home office of such bank is located, or in the United States District Court for the District of Columbia, for an order requiring the Comptroller of the Currency to remove the receiver, and the court shall, upon the merits, dismiss such action or direct the Comptroller of the Currency to remove the receiver.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 191
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Federal law — U.S. Code and appendices · legal_authorities
Page 39
TITLE 12—BANKS AND BANKING
§ 71a
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.
§ 65. Repealed. Pub. L. 86–230, § 8, Sept. 8, 1959,
73 Stat. 457
Section, acts June 30, 1876, ch. 156, § 2, 19 Stat. 63;
Sept. 3, 1954, ch. 1263, § 22, 68 Stat. 1234, related to en-
forcement of shareholders’ individual liability by credi-
tors on liquidation. Limitation on liability of share-
holders, see section 64a of this title.
§ 66. Personal liability of representatives of
stockholders
Persons holding stock as executors, adminis-
trators, guardians, or trustees, shall not be per-
sonally subject to any liabilities as stock-
holders; but the estates and funds in their hands
shall be liable in like manner and to the same
extent as the testator, intestate, ward, or person
interested in such trust funds would be, if living
and competent to act and hold the stock in his
own name.
(R.S. § 5152.)
Editorial Notes
CODIFICATION
R.S. § 5152 derived from act June 3, 1864, ch. 106, § 63,
13 Stat. 118, which was the National Bank Act. See sec-
tion 38 of this title.
§ 67. Individual liability of shareholders; com-
promises; authority of receiver
Any receiver of a national banking association
is authorized, with the approval of the Comp-
troller of the Currency and upon the order of a
court of record of competent jurisdiction, to
compromise, either before or after judgment,
the individual liability of any shareholder of
such association.
(Feb. 25, 1930, ch. 58, 46 Stat. 74.)
Statutory Notes and Related Subsidiaries
APPLICATION TO DISTRIC
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 65
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