12 USC § 26 - Comptroller to determine if association can commence business
Whenever a certificate is transmitted to the Comptroller of the Currency, as provided in title 62 of the Revised Statutes, and the association transmitting the same notifies the Comptroller that all of its capital stock has been duly paid in, and that such association has complied with all the provisions of title 62 of the Revised Statutes required to be complied with before an association shall be authorized to commence the business of banking, the Comptroller shall examine into the condition of such association, ascertain especially the amount of money paid in on account of its capital, the name and place of residence of each of its directors, and the amount of the capital stock of which each is the owner in good faith, and generally whether such association has complied with all the provisions of title 62 of the Revised Statutes required to entitle it to engage in the business of banking; and shall cause to be made and attested by the oaths of a majority of the directors, and by the president or cashier of the association, a statement of all the facts necessary to enable the Comptroller to determine whether the association is lawfully entitled to commence the business of banking.
Whenever a certificate is transmitted to the Comptroller of the Currency, as provided in title 62 of the Revised Statutes, and the association transmitting the same notifies the Comptroller that all of its capital stock has been duly paid in, and that such association has complied with all the provisions of title 62 of the Revised Statutes required to be complied with before an association shall be authorized to commence the business of banking, the Comptroller shall examine into the condition of such association, ascertain especially the amount of money paid in on account of its capital, the name and place of residence of each of its directors, and the amount of the capital stock of which each is the owner in good faith, and generally whether such association has complied with all the provisions of title 62 of the Revised Statutes required to entitle it to engage in the business of banking; and shall cause to be made and attested by the oaths of a majority of the directors, and by the president or cashier of the association, a statement of all the facts necessary to enable the Comptroller to determine whether the association is lawfully entitled to commence the business of banking.
Source
(R.S. § 5168; Pub. L. 86–230, § 2,Sept. 8, 1959, 73 Stat. 457.)
References in Text
Title 62 of the Revised Statutes, referred to in text, was in the original “this Title” meaning title LXII of the Revised Statutes, consisting of R.S. §§ 5133 to
5244, which are classified this section and to sections
16,
21,
22 to
24a,
25a,
25b,
27,
29,
35 to
37,
39,
43,
52,
53,
55 to
57,
59 to
62,
66,
71,
72 to
76,
81,
83 to
86,
90,
91,
93,
93a,
94,
141 to
144,
161,
164,
181,
182,
192 to
194,
196,
215c,
481 to
485,
501,
541,
548, and
582 of this title. See, also, sections
8,
333,
334,
475,
656,
709,
1004, and
1005 of Title
18, Crimes and Criminal Procedure. For complete classification of R.S. §§ 5133 to
5244 to the Code, see Tables.
Codification
R.S. § 5168 derived from act June 3, 1864, ch. 106, § 17,13 Stat. 104, which was the National Bank Act. See section
38 of this title.
Amendments
1959—Pub. L. 86–230substituted “all” for “at least 50 per centum” before “of its capital stock”.
Exception as to Transfer of Functions
Functions vested by any provision of law in Comptroller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under section
1 of this title.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Monday, June 17, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.
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