Page:United States Statutes at Large Volume 47 Part 1.djvu/1590

1566 Reports to Comp- troller . Vol. 31, p. 1303; Vol. 42,P.1067. Publication in news- paR, pers ° 8 ., see. Z211, p. 1007 . U. S. C.,p.269. Vol. 34, p . 459. Additional powers of examination . Payment of expenses . R. S., see. 5240, p. 1013. Limit to liability which may be in- curr ed. R. S., sec. 5200, p. 1005. U.S.C.,p. 264. Nonmem ber banks to maintain same re- serve basis as national banks . Agencies as deposits- ries. Proviso . Regulations govern- ing withdrawals . Effect of, on stew loans, dividends, e w Shareholders of sav- ings banks, etc ., a nd foreign institutions do- ing banking business in the D istri ct. Liability of any fu- t re bank. Existing corpora- tions, for contracts, etc., incurred subse- quen t to enac tment of Act . 72d CONGRESS . SESS. II. CIL. 274 . MARCH 4, 1933 . SEC . 2 . That the last proviso of section 713 of the Act of March ar 1901, entitled "An Act to establish a Code of Law for the District of C olum bia" (D. C . Code, Title 5, sec . 298), as amended, 'be amended to read as follows : "And provided further, That all publi- cati ons a uthori zed o r req uired by se ction 5211 , Revi sed S tatut es, and all o ther p ublic ation s aut horize d or requi red by exis ting law to be made in the District of Columbia, shall be printed in one or more daily newspapers of general circulation, published in the city of Washi ngton ." SEC.3. That section 714 of the Act of March 3, 1901, entitled `"An Act to establish a Code of Law for the District of Columbia"' (D. C. Code, title 5, sec. 299), as amended, be amended to read as follows : "SEC. 714. (a) The Comptroller of the Currency, in addition to the powers now confer red upon him by law for the examination . o f national banks, is hereby further authorized, whenever he may deem it advisable, to cause examination to be made into the condition of any bank mentioned in the preceding section . The expense ,of such examination shall be paid in the manner provided by section 5240 of the Revised Statutes relating to the examination -of niaiional banks. "(b) The provision of section 5200 of the Revised statutes, as amend ed (12 U. S . C . 84), are hereby extended to apply to ail h ank and t rust ounipa nies doing busi ness i n the Dist rict o f Col umbia . "(c) Eae'h bank and trust company doing business in the District of Columbia and not a member of the Federal reserve system tafl withi n six monks from the enact ment o f thi s sec tion, estab lish and maintain reserves ;on the same basis and subject to the same cond tions as may by law now or hereafter be prescribed for national banks located in the District of Columbia, except that such reserves shall b e establ ished -an d mainta ined at such age ncy or a gencies which shall have the approve,l' of the Comptroller of the Currency : Pro- vide d, ho wever, (1) That the required reserves carried by such bank or trust company with an agency or agencies may, under the regu- lations and subject to such penalties as may be prescribed by the Comptroller of the Currency, be checked against and withdrawn by such bank or tru st comp any for the purp ose of meeting existing liabilities, and (2) that no such bank or trust company shall at any time make new loans or shall pay any dividends unless and until the total reserves required by law shall be fully restored ." SEC . 4. (a) The shareholders of every savings bank or savings company other than building associations now or hereafter organized under authority of any Act of Congress to do business in the Dis- trict of Columbia and of every banking institution organized by virtue of the laws of any of the States of the Union to do or doing a banking business in the District of Columbia, who acquire in any manner the shares of any such savings bank or savings company or such banking institutions other than building associations after the enactme nt of th is Act, s hall be held ind ividuall y respon sible eq ually and ratably, and not one for another, for all contracts, debts, and engagements of such bank or company, to the extent of the amount of their stock so acquired therein, at the par value thereof, in addition to the amount invested in such shares . (b) The shareholders, at the date of the enactment of this Act, of every savings bank or savings company other than building associations organized under authority of any Act of Congress to do business in the District of Columbia, and of every banking institu- tion organized by virtue of the laws of any of the States of this Union to do or doing a banking business in the District of Columbia, shall be held individually responsible, equally and ratably, and not