at private sale any of the bonds pledged by such associa- act. fairs of default Bond and duties of receiver, &c. R. S., 5234, 5236, 5237, post, pr. 204,. 205. SEC. 50. And be it further enacted, That on becoming sat- Comptroller may appoint a reisfied, as specified in this act, that any association has receiver to close f fused to pay its circulating notes as therein mentioned, and ing association. is in default, the comptroller of the currency may forthwith appoint a receiver, and require of him such bond and security as he shall deem proper, who, 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 such association, 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, sell all the real and personal property of such association, on such terms as the court shall direct; and may, if necessary to pay the debts of such association, enforce the individual liability of the stockholders provided for by the twelfth section of this act; and such receiver shall pay over all money so made to the Treasurer of the United States, subject to the order of the comptroller of the currency, and also make report to the comptroller of the currency of all his acts and proceedings. The comptroller shall thereupon cause notice to be given, by advertisement in such newspapers as he may direct, for three consecutive months, calling on all persons who may have claims against such association to present the same, and to make legal proof thereof. And from time to time the comptroller, after full provision shall have been first made for refunding to the United States any such deficiency in redeeming the notes of such association as is mentioned in this act, shall make a ratable dividend of the money so paid over to him by such receiver on all such claims as may have been proved to his satisfaction or adjudicated in a court of competent jurisdiction; and from time to time, as the proceeds of the assets of such association shall be paid over to him, he shall make further dividends, as aforesaid, on all claims previously proved or adjudicated; and the remainder of such proceeds, if any, shall be paid over to the shareholders of such association, or their legal representatives, in proportion to the denies that it has its notes, it may courts for an injunction. association stock by them respectively held: Provided, however, That failed to redeem if such association against which proceedings have been so apply to the instituted, on account of any alleged refusal to redeem its circulating notes as aforesaid, shall deny having failed to do so, such association may, at any time within ten days after such association shall have been notified of the appointment of an agent, as provided in this act, apply to the nearest circuit, or district, or territorial court of the United States, to enjoin further proceedings in the premises; and Proceedings. such court, after citing the comptroller of the currency to show cause why further proceedings should not be enjoined, and after the decision of the court or finding of a jury that such association has not refused to redeem its circulating notes, when legally presented, in the lawful money of the United States, shall make an order enjoining the comptroller, and any receiver acting under his direction, from all further proceedings on account of such alleged refusal. Fees for protest and other expen p. 206. SEC. 51. And be it further enacted, That all fees for protestses, how to be ing the notes issued by any such banking association shall be paid. R. S., 5238, post, paid by the person procuring the protest to be made, and such banking association shall be liable therefor; but no part of the bonds pledged by such banking association, as aforesaid, shall be applied to the payment of such fees. And all expenses of any preliminary or other examinations into the condition of any association shall be paid by such association; and all expenses of any receivership shall be paid out of the assets of such association before distribution of the proceeds thereof. Transfers, assignments, &c., of insolvency, &c., p. 178. SEC. 52. And be it further enacted, That all transfer of the in contemplation notes, bonds, bills of exchange, and other evidences of debt to be void. owing to any association, or of deposits to its credit; all R. S., 5242, ante, assignments of mortgages, sureties on real estate, or of judgments or decrees in its favor; all deposits of money, bullion, or other valuable thing for its use, or for the use of any of its shareholders or creditors; and all payments of money to either, made after the commission of an act of insolvency, or in contemplation thereof, with a view to prevent the application of its assets in the manner prescribed by this act, or with a view to the preference of one creditor to another, except in payment of its circulating notes, shall be utterly null and void. Penalty upon directors for vio SEC. 53. And be it further enacted, That if the directors of lations of this act. any association shall knowingly violate, or knowingly permit any of the officers, agents, or servants of the association to violate any of the provisions of this act, all the rights, privileges, and franchises of the association derived from to be determined. this act shall be thereby forfeited. Such violation shall, Violation, how however, be determined and adjudged by a proper circuit, district, or territorial court of the United States, in a suit brought for that purpose by the comptroller of the currency, in his own name, before the association shall be declared dissolved. And in cases of such violation, every director who participated in or assented to the same shall be held, Personal liable in his personal and individual capacity for all damages which the association, its shareholders, or any other person, shall have sustained in consequence of such violation. bility. examiner. lia SEC. 54. And be it further enacted, That the comptroller Comptroller may appoint per. of the currency, with the approbation of the Secretary of the son to examine the affairs of any Treasury, as often as shall be deemed necessary or proper, association. shall appoint a suitable person or persons to make an examination of the affairs of every banking association, which person shall not be a director or other officer in any association whose affairs he shall be appointed to examine, and who shall have power to make a thorough examination into all the affairs of the association, and, in doing so, to examine Duty of such auy of the officers and agents thereof on oath; and shall make a full and detailed report of the condition of the association to the comptroller. And the association shall not be subject to any other visitorial powers than such as are authorized by this act, except such as are vested in the several courts of law and chancery. And every person ap- Pay. pointed to make such examination shall receive for his services at the rate of five dollars for each day by him employed in such examination, and two dollars for every twenty-five miles he shall necessarily travel in the performance of his duty, which shall be paid by the association by him examined. officers, &c., of embezzlement, SEC. 55. And be it further enacted, That every president, Penalty upon director, cashier, teller, clerk, or agent of any association, association for who shall embezzle, abstract, or willfully misapply any of &c., of funds. the moneys, funds, or credits of the association, or shall, without authority from the directors, issue or put in circulation any of the notes of the association, or shall, without such authority, issue or put forth any certificate of deposit, draw any order or bill of exchange, make any acceptance, assign any note, bond, draft, bill of exchange, mortgage, judgment, or decree, or shall make any false entry in any book, report, or statement of the association, with intent, in either case, to injure or defraud the association or any other company, body politic or corporate, or any individual person or to deceive any officer of the association, or any agent District attor neys to conduct appointed to examine the affairs of any such association, shall be deemed guilty of a misdemeanor, and upon conviction thereof shall be punished by imprisonment not less than five nor more than ten years. SEC. 56. And be it further enacted, That all suits and procertain suits. ceedings arising out of the provisions of this act, in which the United States or its officers or agents shall be parties, shall be conducted by the district attorneys of the several districts, under the direction and supervision of the solici -tor of the treasury. In what courts suits, &c., under SEC. 57. And be it further enacted, That suits, actions, this act may be and proceedings, against any association under this act, may prosecuted. See s. 2, act be had in any circuit, district, or territorial court of the of March 3, 1873, United States held within the district in which such assopost, p. 187. ciation may be established; or in any state, county, or municipal court in the county or city in which said association Proceedings for is located, having jurisdiction in similar cases: Provided, injunctions to be in what courts. however, That all proceedings to enjoin the comptroller under this act shall be had in a circuit, district, or territorial court of the United States, held in the district in which the association is located. Penalty for mutilating notes fit for reissue. p. 207. SEC. 58. And be it further enacted, That every person who to make them un- shall mutilate, cut, deface, disfigure, or perforate with holes, R. S., 5188, post, or shall unite or cement together, or do any other thing to any bank bill, draft, note, or other evidence of debt, issued by any such association, or shall cause or procure the same to be done, with intent to render such bank bill, draft, note, or other evidence of debt unfit to be reissued by said association, shall, upon conviction, forfeit fifty dollars to the association who shall be injured thereby, to be recovered by action in any court having jurisdiction. Penalty for counterfeiting notes, R. S., 5415, ante, p. 135. SEC. 59. And be it further enacted, That if any person shall falsely make, forge, or counterfeit, or cause or procure to be made, forged, or counterfeited, or willingly aid or assist in falsely making, forging, or counterfeiting, any note in imitation of, or purporting to be in imitation of, the circulating notes issued under the provisions of this act, or shall pass, utter, or publish, or attempt to pass, utter, or publish, any false, forged, or counterfeited note, purporting to be issued by any association doing a banking business under the profor knowingly visions of this act, knowing the same to be falsely made, forged, or counterfeited, or shall falsely alter, or cause or procure to be falsely altered, or willingly aid or assist in falsely altering, any such circulating notes, issued as aforesaid, or shall pass, utter, or publish, or attempt to pass, utter, or publish, as true, any falsely altered or spurious cir uttering, &c., culating note issued, or purporting to have been issued, as aforesaid, knowing the same to be falsely altered or spurious, every such person shall be deemed and adjudged guilty of felony, and being thereof convicted by due course of law shall be sentenced to be imprisoned and kept at hard labor for a period of not less than five years, nor more than fifteen years, and fined in a sum not exceeding one thousand dollars. &c., plates for &C., SEC. 60. And be it further enacted, That if any person for engraving, shall make or engrave, or cause or procure to be made or forging notes, engraved, or shall have in his costody or possession any plate, die, or block after the similitude of any plate, die, or block from which any circulating notes issued as aforesaid shall have been prepared or printed, with intent to use such plate, die, or block, or cause or suffer the same to be used, in forging or counterfeiting any of the notes issued as aforesaid, or shall have in his custody or for having blank possession any blank note or notes engraved and printed intent, after the similitude of any notes issued as aforesaid, with intent to use such blanks, or cause or suffer the same to be used, in forging or counterfeiting any of the notes issued notes, &c., with as aforesaid, or shall have in his custody or possession any for having paper, paper adapted to the making of such notes, and similar &c. to the paper upon which any such notes shall have been issued, with intent to use such paper, or cause or suffer the same to be used, in forging or counterfeiting any of the notes issued as aforesaid, every such person, being thereof convicted by due course of law, shall be sentenced to be imprisoned and kept to bard labor for a term not less than five or more than fifteen years, and fined in a sum not exceeding one thousand dollars. SEC. 61. And be it further enacted, That it shall be the duty of the comptroller of the currency to report annually to congress at the commencement of its session Comptroller to to Congress. report annually R. S., 333, post, p. 188. Contents of report. First. A summary of the state and condition of every association from whom reports have been received the preceding year, at the several dates to which such reports refer, with an abstract of the whole amount of banking capital returned by them, of the whole amount of their debts and liabilities, the amount of circulating notes outstanding, and the total amount of means and resources, specifying the Contents of amount of lawful money held by them at the times of their several returns, and such other information in relation to said associations as, in his judgment, may be useful. Second. A statement of the associations whose business has been closed during the year, with the amount of their circulation redeemed and the amount outstanding. comptroller's report to Congress. |