Page:United States Statutes at Large Volume 42 Part 1.djvu/1496

SIXTY-SEVENTH CONGRESS. Sess. IV. Ch. 252. 1923. 1469 any advance on the security of the live stock inspected, knowing the same to be false, or who willfully overvalues any security by which an advance is secur·ed, shall be punishable by a fine of not more than $5,000, or lg imprisonment for not more than Eve years or both. (1) The omptroller of the Currency shall allot to the bepartment °"“"°"° gg Agrrculturp frgln tiggi time Sl1Cl;SI.;lIl1Sf-ES may be estimated to gx; for necessary or e a mstration o the notions vested in that ' department by this title, and mag ratabl assess the same from time to time against National Agric tural Cyredit Corporations. namrs Mrmnnxs or run rnnnnar. nnsnnvn srsrrm mr rsncoun srocx b,f{§‘;"'° "‘°"'“’°" uomnns. Sec. 210. That any member bank of the Federal reserve system may s¤§e°{¤°kii»ti°d¤mi1°zg file application with the Comptroller of the Currency for permission ’°“°‘“· to invest an amount not exceeding in the aggregate 10 per centum of its paid in capital stock and surplus in the stock of one or more of the National Agricultural Credit Corporations, and upon approval of such application may purchase such stock. The Comptroller of the Currency shall have discretion to approve or reject such application in whole or in part. T u ·raxA·r1oN. m °¤· Sec. 211. That taxation by a State of the shares in National Agri- nig gs iyiiaaiguiiie cultural Credit Corporations, or of dividends derived therefrom, or "°§§,,“’*,';'§’_,;,,,°‘°· cf the income of said corporations, or real estate owned by them, shall ` ' be such only as is or may be authorized by law in the case of national banking associations; and taxation by a State of the debenturm or 0¤¤¤¤¤¤¤¤m. other ligations of such corporations shall not be at a hi her rate than the {ate applimilable go other moneyed capital in the hands of indivi ua citizens thereo . r nnrosrrs. ”°P°°"’· Sec. 212. That the moneys of National Agriwltnral Credit Cor- beYf,‘?,§{,§‘}§€Y"° “‘°“" porations may be kept on deposit subject to check in any member bank of the Federal reserve system. coNvrmsioN or CORPORATIONB. mg{f,;'f'”*°° °‘ *****1*** Sec. 213. a That an a icultural or 1ive—stock Enancin cor- §*¤!¤ ¤¢¤¤¤¤¢grg¤¤; poration incdrgorated by gpegilal law of any State onorganizedéinder §$;§n°n;1Z:%rItii the general laws of any€State and having an ummpaired capital ,,,,Q,u,,,,,_ °°" sufficient to entitletit to t copipha I*{]at1o}naldAgr1cultura1 Cgredit glor- ¢¤v*¤=¤¤r¤¤¤¤¢¤<¤.¤¢¢· ration ma e vo e o e s are o ers owning no ess an gl) per centuiii oi, the calpital stock of such corporation, with the gpprcval of the Comptaol gr og the Cuzjrencyxpe cplnveritzzii mtr; 14; a~ tional A `cultura re it or ora ion un er is 1 e, wi any name ap[§·dved by the Comptrollier of the Currency: Provided, That Ilszivisgé mm the said conversion shall not be in contravention of the State law. smenw. m° (b) In such case thedarlgticles of asiociagipln agd orégamzptégn cer- Action ormmccms. ificate ma be execute a ma]or1 y 0 e 11`€C rs o e corporation, ayiid the certificatje shall declare_ that the owners of 51 per centum of the capital stock have authorized the directors to make such certificate and to change or convert the corporation into a Na- _ tional Agricultural Credit Corporation. ma]or1ty of the 'di- mmf °*¤¤=’•¤‘ rectors, after executing the artic es of association and the organization certificate, shall have_ power to execute all other papers and to do whatever ma§be required to make its organization perfect and complete as a ational Agricultural Credit Corporation. The or shares of any such corporation may contmue to be for the same amount each as they were before the conversion, and the directors