690
74TH CONGRESS . SESS. I. CH . 614. AUGUST 23, 1935 . Suit to compel filing "(6) Any insured bank which fails to file any certified statement of st ate men t. required to be filed by it in connection with determining the amount of any assessment payable by the bank to the Corporation may be compelled to fi le such statement by mandatory injunction or other appropriate rem edy in a suit brought for such purpose by the Cor- poration against the bank and any officer or officers thereof in any court of the United States of competent jurisdiction in the district or territory in which such bank is located . Rec overy by Cor° "(7) The Corporation, in a suit brought at law or in equity in any poration . court of competent jurisdiction, shall be entitled to recover from any insured b ank the amount of any unpaid assessment l awfully payable by such i nsured bank to the Co rporation, whether o r not such bank shall have filed any such certified statement and whether or not suit Forfeiture of privi- sha ll have been brought to co mpel t he bank to fi le any such s tatemen t . leges by national mem-
(S) Should any national member bank or any insured national nonmember d nasnational non membe r b bank
to file any certifiedstatem statement o b e filed by such bank under any provision of this subsection, or fail to pay any assessment required to be paid by such bank under any pro- vision of this section, and should the bank not correct such failure within thirty days after written notice has been given by the Corpo- ration to an officer of the bank, citing this paragraph, and stating that the bank has failed to file or pay as required by law, all the rights, privileges, and franchises of the bank granted to it under the National Bank Act or under the provisions of this Act, as amended, shall be thereby forfeited . Whether or not the penalty provided in this para graph has been incurr ed shall be determin ed and adjudged Vol .38,p . 252; U. S. in the manner provided in the sixth
of section 2 of this C.,p.405. pa ragr aph Remedies . Act, as amended . The remedies provided in this paragraph and in the two preceding paragraphs shall not be construed as limiting any other rem edies against any ins ured bank, but shall be in addition thereto . Tru st fun ds
- incur-
"(9 ) Trust funds held by an insured bank in a fiduciary capacity once of . whether held in its trust or deposited in any other department or in another bank shall be insured in an amount not to exceed $5,000 for each trust estate, and when deposited by the fiduciary bank in another insured bank such trust funds shall be similarly insured to the fidu- ciary bank according to the trust estates represented . Notwithstand- ing any other provision of this section, such insurance shall be separate from and additional to that covering other deposits of the owners of such trust funds or the beneficiaries of such trust estates T o • v23•' be co nsid ere d T
Pr ovided, That where the fiduciary bank deposits any of such trust ciaryiitanakbility•fade ° fun ds in other insured b anks, the amount so held by other insured banks on deposit shall not for the purpose of any certified statement required under paragraph (2), (3), or (4) of this subsection be con- sidered to be a deposit liability of the fiduciary bank, but shall be Re gula tio ns res pec t- considered to be a deposit liability of the bank in which such funds ing reporting and do . are so deposited by such fiduciary bank . The board of directors positing.
shall have power by regulation to prescribe the manner of reporting and of depositing such trust funds . Insured bank
t urination of status as
"(i) (1) Any insured bank (except a national member bank or notice required . State member bank) may, upon not less than ninety days' written notice to the Corp oration, and to the Reconstruction Financ e Cor- poration if it owns or holds as pledgee any preferred stock, capital notes, or debentures of such bank, terminate its status as an insured ues when unsound bank banking nking b an k . Whenever t he board of director s shall find that an insured practices, etc. bank or its directors or trustees have continued unsafe or unsound practices in conducting the business of such bank, or have knowingly or neg ligent ly perm itted any of its of ficers or age nts to violat e any provision of any law or regulation to which the insured bank is
