323 Q ‘· " _ TITLE (2.5-—BANKS umm peymit such corporation to ueeltthe prooeede thereof _,i'Fo1·- the plfo{€Cti0D Or. D1°%€1’V¤t·i0¤ of, ·P1°(t[)Bl°ty Oi'. mortgaged as security dor obligations, owned or` iudorsed by s —- the corporation. If by reason of such sale the face amount éc `,,{eut·11 bonds or other obligntions of ‘tl1e United States remain- b iss: on deposit with such ‘Fedem1.Reeerye Bank shall beless o ·§§y;}!l per cengum-pf Of, UIB (291* Si
- g.m;in;;, noainrthexj ndv&ngee—sbn}l.be mode, or notes, dra_fts, '1
or- mis of exchange discounted, redisconnted, accepted, or pur-‘ {mend, by. such corporation until suEcient additional bonds c · or- omwobligntions of the United `States have been deposited le to make good the dencieney. (Mar. 4,1923, c. 252, Title, CII, ‘s] ‘;m<,42Stnt.1466.) to " _ " - _ g; 1232. Determination as to. grant of permit.--In determining ., uhetli<;1' to `grnnt pennission to do.business_ to any Natiouur o QM-ionltnrnl Crédit Corporation, the Cornptroller ot the Cui-? to ‘ yr-.¤·y shell take into gcconnt the°ex,tent_ to whiclrtlxe laweot 'i1 ` me stnteor Staten in which the corporation -will,¢lo__°business· t emma adequate protection 0 advances made upon me oeeurity t nf ttmoxronso receipts covering agricultural. Qommoditiee or _.'1 (·mxto1 mortgages.·up0n livestock with respect to· (1) bonding, ` -ut·t·using, and inspection or warehouses; _(_2) recordntion oi L cguttél mortgages or deeds `ot trust on livestock; (3) gocoroae ln (inn ot brands or other fdentitying_mnrl;s·on livestock;-_(4) re- Ii portirxé and recording of lnterstite e shipments and slaughter e or livestoek; and (5) righf.o¢_mortgagee to a portion of a r me mortgaged property 'without prejudice to the priority oi 0 C neu as agdinetjunior lienors or"other creditors ot the mort- v
- .¤
- :or. (Mar, 4, 1923, c., 252,-Title II, 5*208, 42 Stat. 1466.)t _ li
RIISCELLANEOUB ‘ADMINIS'1‘itA'1‘IVE BROVIBIDNS _ 3 1241. Snpervision by. Conptroller of ‘Currency.-.{l1l Nu- ac tional Agricultural. Credit Corporations shall` be under, the t ><u;>ex·vision of the Comptroller of the Currency, who shall be o vhnrged, with the execution of all lows ot the United Stntes in · wmtixng to the organization, Qregulation, und contro1.p1;,such' v t·¢·rpo:*ations._ The Comptroller ot the Currency shall exereiée r mo some general power oi supervision over nucl: corporetionn `o , ns he ezierclses ore: nntionnl banks organiiod under the laws of d me United Stntw. (Mar. 4, 1923,-é,_252, '1‘it1e_II, { 209, 42 State r 11427.; _ · · . · 11 t 1242. Assessment of credit. corporations to pay administram -o tion expenses.--·The Comptroller ot the Currency shall have $
- ¤.»¤·o
- · to levy semiannunlly ~ upon the Natrona!. Agricultural (
4‘¤·o< 1it Corporations operating under the provisions ot this chaping in proportion yto their total assets, an assessment sumcient t to pay the expenses of the adminlstrntion ot chapter for s the ensuing halt year, together with any dencit carried Lorward t from tho pregeding halt year. , Each such corporation shall `pny E t tho amount so assessed against lt to the Treasurer of the t 1`nitcd Staten pubject to the order, ot the Comptroller of the l emrency to be disbursed by the Comptroller invpuyment other- .c poxlses incurred in the admlnistrgtion of this chnpter, (Mar. 4, , 1 1923..::. 252. Title IL I 209. 42 But. 1467.) ‘ .. » · · _ I 1243. of National Agricultnral Crdit Corperi- J tions; appdntnnentg oo¤pen•dtion;° luv; _•D{>li¢•ble,—-·{1‘he 11 <_fomptro1ler ot the Cnrrenoy shell have power to lpwint and C < xix the oonapenention of examiners to examine Nations,-I Agrleul-· J am-nl Credit Corporations or to use national bank examiners for t ams purpose. All exeininere Appointed by htm shall be subject I to existing provisions of law relating to nntiouekubnnk p ex=· t nminers anti to the prorisions of chapter 8 which prohibit c notional bnnk examiners from performing any service for com- — A wnsntionhr any bank or officer and. from diroloeln; me nnmen of borrowers or the collateral for lonnsvwtthont the written coneent or the Comptroller of the Currency, and such " provisions shall be held to nppli to examiners appointed tel" examine eorporations organized under the provision! of this ( chapter. (Mar. 4, 1923, c. 252, Title II, {209, 42 Stat. 1467.) _- I
AWD B.4NK’?°*G ‘· § 1251 1244. Expensesof ex¢¥mina tions.~QTlie expenseof all`_of_ the xaminations ot_ National Agricultural ‘Gredit Corporations ` hall »bo_assessed` by the Comptroller ot t1;;e_Cnrrency_upon the" ozporations- examined ax proportion tonmts or_reso\1rces beltl ly the corporationsupon the d&t&S'0f;e;amiug1ti0¤' of the varins corporations: Provided, That a 'minimum charge of $50 _ hall be made for-each such examinatien. (Mar. 4, 1923, c. 252, Title IL, -§ 209, 42 Stat,‘146Z.) _” ’ ‘ . J 1245. Loans or gratuities to examiners.-—The provisions of banter: ··3 .which prohibit any member bank pom making sans or `granting__a",gratuity ·to. any national bank examiner hall be applicable to` National Agrieultural Credit Corporalons. (Mar. 4, 1923, c. 252, Title II, 5.-209, 42 Stat._1467.) 1246. Reports to Comptroller of C¤ireney.——Nationa1 Agri? ultuml Credit_Corporations shall be required to make reports 0 the Comptroller ot. the Currencyat the time and an the‘man_;_/____ ¤e1¤·eqnired by sections 161, 182 and 163, andshall be subject-to · he provisions, so far as. the same maybe held by said comp= roller to be ’¤pp11eeb1e, . of section `164[ "-(Mar. ’4, 1923, c; 252, mls 11, 5 42 sm; 1467.)- ‘ r - 1243. Liqenses to act as inspectors of livestock as basis for oans; snspension or mcvocatiotti false representations as to nolding of li¢8ll8é.···-ffl)? `Seo£·etnry_ of·Agricn1ture may issue :1 lcensé to any npon presentation to him of satisfactory vidence that mich person is competent to inspect livestock as . zbasls for loans. The Secretary of Agriculture may suspend »t revoke-any license issued by him under ttliis subdivision vhenever, after `ogportimity for hearing has been given to the lcensee, the Secretary shall determine that such licensee is inompetent, or_has knowingly or carelessly made false or erronens inspection renorts *witl1__ respect to any 11»·‘esr¤¤k, or has ac-} epted any money or `other consideration, directly or indirectly, or any neglect oxsimproiier performance ot duty, or has in any _ ther manner shown himself to lbennnt to‘a`cfas.a· livestohk nspcctor. Pending investigation the Secretary ot_ Agriculture, whenever he deems it necwrj may; suspend a license tempoarily without ya hearing. It shall be unlavvful for any person =· ther than a holder ot a License dnly issued under this sub· Livieldn, or any person whose license has been suspended or evoked ninder the terms of this subdivision; to reprment that ` ne_ is a `Federally licensed livestock inspeetor, and any violation »£ this provision shall be punishable by_a ane of not more than L1,000, or by imprisonment for not more than one year, or both. 5Mar._ 4, 1923, c. E2, Title II, § 209, 42 Stat. 1497.) A 1248. False statements in — inspection _`l·éports.-—-;A.ny` inspec- -» or .li under the provisions et section 1247 who makes my statement in any tnspmtion report or to any·person_`,fo1· hemurpose of obtaining for himself, onainy other person. any ndtance on the `seeurity ot the livestock inspected, knowing be same to be false, or who willfully ovexvalues any security " ay which an advance is secured,/shall be punishable by` e iine >t not more than $5,000, or by imprisonment for not morethan ive years, or both. (Mar. 4, 1923, c. Title °II, § 209,, 42 Stat. {1467.) _ . . . t · ‘, [ · 12yt9. Allotment to Department of Agrienltnre of antennts necessary for administration of fnnotiona veMed—`thetein.-Ti1e Bomritroller of the Curgencyshall ME? the Departmht oft kgricnltnre from time to time such s as may be estimated ao be necwry for the administration ot the functions vested .n that department by thiscbapter, and may ratably assess he same {rem time to time against National Agricultural creeiit Corporation, (Mar. 4, 1923, c. 252, Title IL, § 209,, L2 Stat. 1467.) ‘ . BANKS OF FEDERAL RESERVE SYSTEM AS STOCK~ ‘ . .HOLDERS . l 1251; Right to tile applieatien for stock; discretion of Iomptroller of Currency.—·—>—Any member bank of tge Federal Reserve System may tile application with the Comptroller of
