73d CONGRESS . SESS . I. CH. 89. JUNE 16, 1933 .
177 visions of State law in the case of State member banks, or from the Comptroller of the Currency in the case of national banks . The proceeds of every such sale or loan shall be utilized for the same seeds Utilization of pro - purposes and in the same manner as other funds realized from the Payment of aiivi- liquidation of the assets of such banks . The Comptroller of the dends on proved Currency may, in his discretion, pay dividends on proved claims at c laii s. sec . 5235, p. any time after the expiration of the period of advertisement made 1012. pursuant to section 5235 of the Revised Statutes (U.S .C ., title 12, us.C.,p 272. sec . 193), and no liability shall attach to the Comptroller of the Currency or to the receiver of any national bank by reason of any such payment for failure to pay dividends to a claimant whose claim is not proved at the time of any such payment . "(o) The Corporation is authorized and empowered to issue and Amount of outstand- ing corporate oblige- to have outsta nding at any one time in a n amount aggre gating not tic's. more than three times the amount of its capital, its notes debentures Redeemable bef ore > maturity optional bonds, or othe r such obliga tions, to be r edeema ble at the opt ion of the Corporation before maturity in such manner as may be stipulated in such obligations, and to bear such rate or rates of interest, and to mature at such time or times as may be determined by the Cor- poration : Provided, That the Corporation may sell on a discount S ale 8 of short-term basis short-term obligations payable at maturity without interest, oblig ations at dis count . The notes, debentures, bonds, and other such obligations of the Cor- Security . pora tion may be secu red by a sset s of the Cor pora tion in such man ner as shall be prescribed by its board of directors . Such obligations may be offered for sale at such price or prices as the Corporation may determine .
r ate obiiga " (p) All notes, debentures, bonds, or other such obligations issued ti Corpo c' s, ora exemption. by the Corporation shall be exempt, both as to principal and interest, Exception, State and from all taxation (except estate and inheritance taxes) now or here- inheritance taxes . after imposed by the United States, by any Territory, dependency, or possession thereof, or by any State, county, municipality, or local taxi' authority . The Corporation, including its franchise its capi- Corporation, x empt- g
ing franchise, exempt. tal, reserves, and surplus, and its income, shall be exempt from a1I taxation now or hereafter imposed by the United States, by any Territory, dependency, or possession thereof, or by any State, county, municipality, or local taxing authority, except that any real prop- erty of the Co rporati on sha ll be s ubject to Sta te, Ter ritoria l, cou nty, municipal or local taxation to the same extent according to its value as other real property is taxed .
Preparation of note, cc (q) In order that the Corporation may be supplied with such debenture, etc , forms. forms of notes, debentures, bonds, or other such obligations as it may need for issuance under this Act, the Secretary of the Treasury is authorized to prepare such forms as shall be suitable and approved by the Corporation, to be held in the Treasury subject to delivery, upon diCus day of plates, order of the Corporation . The engraved plates, dies, bed pieces, and other material executed in connection therewith shall remain in the e ~Reimbursement for custody of the Secretary of the Treasury . The Corporation shall reimburse the Secretary of the Treasury for any expenses incurred in the preparation, custody, and delivery of such notes, debentures, bonds, or other such obligations . " r The Corporation shall annually make a report of its opera- cCo rporation . Annual repor t of y
ation . tions to the Congress as soon as practicable after the 1st day of January in each year . " (s) Whoever, for the
of obtaining any loan from the Penalty provisions . purpose
g
y
False statement Corporation, or any extension or renewal thereof, or the acceptance, release, or substitution of security therefor, or for the purpose of inducing the Corporation to purchase any assets, or for the purpose of influencing in any way the action of the Corporation under this see- 86637'-34-12
