Browse Arkansas Code titles and sections
12 U.S.C. § 192 — Default in payment of circulating notes
Federal law — U.S. Code and appendices · legal_authorities
On becoming satisfied, as specified in sections 131 and 132 11 See References in Text note below. 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.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 192
Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.
Original supplied file — preserved unchanged
Download original Markdown file
File SHA-256: ded050a52235d28a6384f7362ce31caf15f6abcdeda1c85543b8d566ab0137b8. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.
Authority boundary: historical or unconfirmed source not current law verified.
Open the recorded source website ↗
Record provenance
Stable record: federal_law:legal_authorities:record_usc_ba0a255cd1094e31a8508b16
Source file: Laws/federal/codes/united-states-code/title-12/section-192-default-in-payment-of-circulating-notes--3a2c3cf22c.md
Pages: Not recorded – Not recorded
Passage SHA-256: 777378ff35cc74c7cff7798266c20bd2a4ad49217e114095c5ac5ad82f52af4b
Source location: Title 12, Chapter 2, § 192; chapter-002-national-banks.md
Stored source content
On becoming satisfied, as specified in sections 131 and 132 11 See References in Text note below. 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.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
National banks, or banks organized under local laws, located in a dependency or insular possession or any part of the United States outside the continental United States, may remain nonmember banks, and shall in that event maintain reserves and comply with all the conditions now provided by law regulating them; or said banks may with the consent of the Board of Governors of the Federal Reserve System, become member banks of any one of the reserve districts, and shall in that event take stock, maintain reserves, and be subject to all the other provisions of this chapter.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 466
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
The Act entitled “An Act to provide a national currency secured by a pledge of United States bonds, and to provide for the circulation and redemption thereof,” approved June 3, 1864, shall be known as “The National Bank Act.”
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 38
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
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.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 55
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
#### Codification
Section, act Dec. 23, 1913, ch. 6, § 12B, as added June 16, 1933, ch. 89, § 8, 48 Stat. 168; amended June 16, 1934, ch. 546, § 1 (1)–(10), 48 Stat. 969, 970; June 28, 1935, ch. 335, 49 Stat. 435; Aug. 23, 1935, ch. 614, title I, § 101, 49 Stat. 684; Apr. 21, 1936, ch. 244, 49 Stat. 1237; May 25, 1938, ch. 276, 52 Stat. 442; June 16, 1938, ch. 489, 52 Stat. 767; June 20, 1939, ch. 214, § 2, 53 Stat. 842; Apr. 13, 1943, ch. 62, § 1, 57 Stat. 65; Aug. 5, 1947, ch. 492, §§ 2, 4, 61 Stat. 773; June 25, 1948, ch. 645, § 21, 62 Stat. 862; Oct. 15, 1949, ch. 695, § 4, 63 Stat. 880; Aug. 17, 1950, ch. 729, §§ 5–7, 64 Stat. 457, relating to the Federal Deposit Insurance Corporation, was withdrawn from the Federal Reserve Act and made a separate act to be known as the Federal Deposit Insurance Act, by section 1 of act Sept. 21, 1950, ch. 967, 64 Stat. 873. The Federal Deposit Insurance Act is classified to chapter 16 (§ 1811 et seq.) of this title.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 264
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, act Dec. 23, 1913, ch. 6, § 19(i), formerly § 19 par. (12), as added June 16, 1933, ch. 89, § 11(b), 48 Stat. 181; amended Aug. 23, 1935, ch. 614, title III, § 324(c), 49 Stat. 714; Proc. No. 2695, eff. July 4, 1946, 11 F.R. 7517, 60 Stat. 1352; renumbered § 19(i), Pub. L. 89–597, § 2(b), Sept. 21, 1966, 80 Stat. 824; Pub. L. 96–161, title I, § 101(a), Dec. 28, 1979, 93 Stat. 1233; Pub. L. 96–221, title III, §§ 302(a), 307, Mar. 31, 1980, 94 Stat. 145, 147, prohibited member banks from paying interest on any deposit payable on demand but included savings provisions and exceptions.
#### Effective Date of Repeal
Pub. L. 111–203, title VI, § 627(b), July 21, 2010, 124 Stat. 1640, provided that: “The amendments made by subsection (a) [amending sections 1464 and 1828 of this title and repealing this section] shall take effect 1 year after the date of the enactment of this Act [July 21, 2010].”
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 371a
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
Every national banking association located in Alaska or in a dependency or insular possession or any part of the United States outside of the continental United States, and not a member of the Federal reserve system, shall at all times have on hand in lawful money of the United States an amount equal to at least 15 percent of the aggregate amount of its deposits in all respects. Whenever the lawful money of any such association shall fall below 15 percent of its deposits such association shall not increase its liabilities by making any new loans or discounts other than by discounting or purchasing bills of exchange payable at sight nor make any dividends of its profits until the required proportion between the aggregate amount of its deposits and its lawful money of the United States has been restored. And the Comptroller of the Currency shall notify any such association whose lawful money reserve shall be below the amount required to be kept on hand to make good such reserve, and if such association shall fail for thirty days thereafter so to make good its lawful money the Comptroller may, with the concurrence of the Secretary of the Treasury, appoint a receiver to wind up the business of the association as provided in [section 192 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section192&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 143
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Examination of savings associations** The cost of conducting examinations of savings associations pursuant to [section 1464(d) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1464/d&num=0&edition=prelim) shall be assessed by—
(1) the Comptroller, against each such Federal savings association, as the Comptroller deems necessary or appropriate; and
(2) the Corporation, against each such State savings association, as the Corporation deems necessary or appropriate.
**(b) Examination of affiliates** The cost of conducting examinations of affiliates of savings associations pursuant to this chapter may be assessed by the Comptroller or Corporation, as appropriate 11 So in original. Probably should be followed by a comma. against each affiliate that is examined as the Comptroller or Corporation, as appropriate 1 deems necessary or appropriate.
**(c) Assessment against association in case of affiliate’s refusal to pay**
(1) **In general** — Subject to paragraph (2), if any affiliate of any savings association—
(A) refuses to pay any assessment under subsection (b); or
(B) fails to pay any such assessment before the end of the 60-day period beginning on the date of the assessment,
the appropriate Federal banking agency may assess such cost against, and collect such cost from, such savings association.
(2) **Affiliate of more than 1 savings association** — If any affiliate referred to in paragraph (1) is an affiliate of more than 1 savings association, the assessment with respect to the affiliate against, and collected from, any affiliated savings association in such proportions as the appropriate Federal banking agency may prescribe.
**(d) Civil money penalty for affiliate’s refusal to cooperate**
(1) **Penalty impo
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1467
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
The Comptroller of the Currency may collect an assessment, fee, or other charge from any entity described in [section 1813(q)(1) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813/q/1&num=0&edition=prelim), as the Comptroller determines is necessary or appropriate to carry out the responsibilities of the Office of the Comptroller of the Currency. In establishing the amount of an assessment, fee, or charge collected from an entity under this section, the Comptroller of the Currency may take into account the nature and scope of the activities of the entity, the amount and type of assets that the entity holds, the financial and managerial condition of the entity, and any other factor, as the Comptroller of the Currency determines is appropriate. Funds derived from any assessment, fee, or charge collected or payment made pursuant to this section may be deposited by the Comptroller of the Currency in accordance with the provisions of [section 192 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section192&num=0&edition=prelim). Such funds shall not be construed to be Government funds or appropriated monies, and shall not be subject to apportionment for purposes of chapter 15 of title 31 or any other provision of law. The authority of the Comptroller of the Currency under this section shall be in addition to the authority under subchapter XV of chapter 3.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 16
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a)** Whenever any national banking association shall have been or shall be placed in the hands of a receiver, as provided in section fifty-two hundred and thirty-four [[12 U.S.C. 192](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section192&num=0&edition=prelim)] and other sections of the Revised Statutes of the United States and [section 1821(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1821/c&num=0&edition=prelim), and when, as provided in [section 194 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section194&num=0&edition=prelim), there has been paid to each and every creditor of such association whose claim or claims as such creditor shall have been proved or allowed as therein prescribed, the full amount of such claims, and all expenses of the receivership, the Comptroller of the Currency or the Federal Deposit Insurance Corporation, where that Corporation has been appointed receiver of the bank, shall call a meeting of the shareholders of the association by giving notice thereof for thirty days in a newspaper published in the town, city, or county where the business of the association was carried on, or if no newspaper is there published, in the newspaper published nearest thereto. At such meeting the shareholders shall determine whether the receiver shall be continued and shall wind up the affairs of the association, or whether an agent shall be elected for that purpose, and in so determining the shareholders shall vote by ballot, in person or by proxy, each share of stock entitling the holder to one vote, and the majority of the stock in number of shares shall be necessary to determine whether the receiver shall be continued, or whether an agent shall
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 197
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Annual assessments** The Director shall establish and collect from the regulated entities annual assessments in an amount not exceeding the amount sufficient to provide for reasonable costs (including administrative costs) and expenses of the Agency, including—
(1) the expenses of any examinations under [section 4517 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4517&num=0&edition=prelim) and under [section 1440 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1440&num=0&edition=prelim);
(2) the expenses of obtaining any reviews and credit assessments under [section 4519 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4519&num=0&edition=prelim);
(3) such amounts in excess of actual expenses for any given year as deemed necessary by the Director to maintain a working capital fund in accordance with subsection (e); and
(4) the windup of the affairs of the Office of Federal Housing Enterprise Oversight and the Federal Housing Finance Board under title III of the Federal Housing Finance Regulatory Reform Act of 2008.
**(b) Allocation of annual assessment to enterprises**
(1) **Amount of payment** — Each enterprise shall pay to the Director a proportion of the annual assessment made pursuant to subsection (a) that bears the same ratio to the total annual assessment that the total assets of each enterprise bears 11 So in original. Probably should be “bear”. to the total assets of both enterprises.
(2) **Separate treatment of Federal home loan bank and enterprise assessments** — Assessments collected from the enterprises shall not exceed the amounts sufficient to provide for the costs and expenses described in subsection (a) relating to
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4518a
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.