784 INDEX. Banking Associations, (continued.) Banking Assocnhtiom, ’( continued.) certificate to specify what, 101 after transfer, to receive ninety per cent. to be acknowledged, &c., .. 101 of current value of bonds in circulatcopies, &.c., duly certified and au- ing notes,.- . ..,. 105 thenticated, to be evidence of ex- amount of notes not to exceed capital istence of bank, &c., _ . ... 101 stock paid in, .. 105 copy of articles of association, to be sent entire issue of circulating notes not to to comptroller of currency, . . 101 exceed $300,000,000, . . .. 105, 106 associations, when to be corporations and notes how to be prepared, . 106 when to commence business, 101 to express what upon their face,. .. 106 may have seal and succession for twenty to bear what devices, &c.,.. .. 106 years, unless, &c., . .,... 101 limit to amount of notes under general powers, .. . ... 101, 102 85, . ... . .. 106 president, directors, and officers,. . . 101, 102 plates and dies for notes, to be in cusplace of business, ..., 102 tody of comptroller, . ... 111 directors, qualifications, oath, . 108 expenses of procuring plates and dies, term of office oi vacancies, &c.,.,. 103 &c., how borne, . ... 111 voting and proxies, ... 103 association to pay semi-annually one capital stock, to be not less than half por cent. on its average circula- $100,000, . ; 101 tion, .. 111 when not to be less than $200,000,. 101 one fourth per cent. on its average when may be $50,000, 101 deposits, .. 111 how to be paid in, 103 one fourth per cent. on its average how may be increased, ... 103 capital beyond amount invested how may be reduced, ,,... 103 in United States bonds, . 111 how to be divided,; ... 102 proceedings in case of default, 111 shares, how assignable, ... 102, 103 to make semiannual returns of cirlimit upon transfer, ... 102, 103 culation, deposits, and capital stock of delinquent shareholders may stock, ...,. 111 be sold, &c., . .. . ... 103 penalty for default,. ., 111 mode of sale, 103, 104 when may issue circulating notes as United States registered bonds to be de- money, 106 posited with treasurer by association notes to be received at par for all dues to an amount equal to one third of to the United States, except duties on stock, before commencing business, . . 104 imports, . . . 100 deposit may be increased or di- association not to loan on pledge of its minished, .. 104 stock, . . . . . 110 comptroller to examine articles of asso- nor own its stock, or stock of other ciation, &e., .., . 104 association, unless, &c., . 110 may require oath of officers, ... 104 shareholders entitled to one vote for may appoint special commission to each share, 102 make inquiry, . . . . . . 105 may vote by proxy, . 102 when satistied that association may officers cannot act as proxy,. .. 102 commence business to give cer- when shareholder cannot vote, 102 tificate, 105 directors, —- number, residence, interest, associations to cause certificates to be oath, . , 101, 102 published, . 105 term of office, election, vacancies,. 102 shares in associations to be personal association to have what amount of property, ,. 102, 103 money on hand, . . . . 108 how transferable, and effect of trans- when not to make new loans, . 108 fer, ... 102, 103 what may be deemed lawful money, 109 not to be exempt fi·om_taxes imposed if reserve falls below amount required, by state authority, . 112 comptroller to notify, ... 109 limit to such tax, . 112 if deficiency not made good, reshareholders personally liable to twice ceiver to be appointed, . 109 the amount of shares, ... 103 debts of association not to exceed capiexecutors, guardians, trustees, &c., hold- tal, except, Gm., . ... 110 ing stock not to be personally liable,. 118 circulation not to be pledged, . 110 funds in their hands to be liable,. .. 118 capital not to be diminished by divireal estate of] for what purposes may be dends, &c., 110 held, .. 107, 108 dividends payable semi-annually, .. 109 not to be exempt from state and before declaring dividend, one tenth municipal taxes, ... . ... 112 of net prodts for preceding half before commencing business, to transfer year to be carried to surplus fund, to treasurer United States bonds, 105 until, &c., . 109 transfer to be made in trust, ... 105 rate of interest on loans and discounts,. 108 how executed, ... 105 usury, to forfeit the debt, . 108 not to be valid unless countersigned what not to be deemed usury, . 108 by comptroller, 105 action to be commenced within two transfer book to be kept, .. 105 years, 108 transfers to be countersigned and liability of any individual to the assoentered, .. · , 1 05 ciation, not to exceed what amount, . 108 amount of bonds, and where to be certain notes not to be put in circulakept, .. 104, 105 tion,; . 111
