CHAP. CXXX.- An Act regulating the Reports of National Banking Associations. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That in lieu of all reports required by section thirty-four of the national currency act, every association shall make to the comptroller of the currency not less than five reports during each and every year, according to the form which may be prescribed by him, verified by the oath or affirmation of the president or cashier of such association, and attested by the signature of at least three of the directors; which report shall exhibit, in detail and under appropriate heads, the resources and liabilities of the association at the close of business on any past day to be by him specified, and shall transmit such report to the comptroller within five days after the receipt of a request or requisition therefor from him; and the report of each association above required, in the same form in which it is made to the comptroller, shall be published in a newspaper published in the place where such association is established, or if there be no newspaper in the place, then in the one published nearest thereto in the same county, at the expense of the association and such proof of publication shall be furnished as may be required by the comptroller. And the comptroller shall have power to call for special reports from any particular association whenever in his judgment the same shall be necessary in order to a full and complete knowledge of its condition. Any association failing to make and transmit any such report shall be subject to a penalty of one hundred dollars for each day after five days that such bank shall delay to make and transmit any report as aforesaid; and in case any association shall delay or refuse to pay the penalty herein imposed when the same shall be assessed by the comptroller of the currency, the amount of such penalty may be retained by the treasurer of the United States, upon the order of the comptroller of the currency, out of the interest, as it may become due to the association, on the bonds deposited with him to secure circulation; and all sums of money collected for penalties under this section shall be paid into the treasury of the United States. SEC. 2. And be it further enacted, That, in addition to said reports, each national banking association shall report to the comptroller of the currency the amount of each dividend declared by said association, and the amount of net earnings in excess of said dividends, which report shall be made within ten days after the declaration of each dividend, and attested by the oath of the president or cashier of said association, and a failure to comply with the provisions of this section shall subject such association to the penalties provided in the foregoing section. APPROVED, March 3, 1869. CHAP. CXXXV.- An Act in Reference to Certifying Checks by National Banks. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That it shall be unlawful for any officer, clerk, or agent of any national bank to certify any check drawn upon said bank unless the person or company drawing said check shall have on deposit in said bank at the time such check is certified an amount of money equal to the amount specified in such check; and any check so certified by duly authorized officers shall be a good and valid obligation against such bank; and any officer, clerk, or agent of any national bank violating the provisions of this act shall subject such bank to the liabilities and proceedings on the part of the comptroller as provided for in section fifty of the national banking law, approved June third, eighteen hundred and sixty-four. APPROVED, March 3, 1869. CHAP. CXLV. An Act to amend an Act entitled "An Act to provide a National Currency secured by a Pledge of United States Bonds, and to provide for the Circulation and Redemption thereof," by extending certain Penalties to Accessories. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That every person who shall aid or abet any officer or agent of any association in doing any of the acts enumerated in section fifty-two of an act entitled "An act to provide a national currency secured by a pledge of United States bonds, and to provide for the circulation and redemption thereof," approved February twenty-fifth, eighteen hundred and sixty-three, with intent to defraud or deceive, shall be liable to the same punishment therein provided for the principal. APPROVED, March 3, 1869. INDEX. ACCOUNT, state of depositor's, must not be disclosed, 47. who may refuse deposit -, 166. AGENCIES. AGENTS. ASSETS, BANK, (See INTEREST ACCOUNT.) (See BRANCH BANKS.) (See OFFICERS.) bank's right of action against mismanaging director is a part of its, 119. but right of action against shareholder is not, 441. of State bank reorganizing under National Banking Act, 488, et seq. BANKER, Definition BANK BOOKS, ition of these terms, XXXVII. legal character and effect of, 48. how far bind depositor by way of estoppel, 49, et seq. presumption based on balancing of, 50, 484. how this is affected by Statute of Limitations, 50. right to correct entries in, 51. name in, is not conclusive, 52. comparative weight of, as evidence, 482. contemporaneous entry in, 483. BANK BILLS OR NOTES, bank is bound to know its own, 44. but has time to examine, 45. countersigning, 163. interchangeable terms, 395. characteristics of, 395. are not money, 397. but are good tender, 397. may be set off for face value, 398. nature of holder's title, 399, 416. rules governing set-off when bank is insolvent, 400-403 not subject to Statute of Limitations, 403. presentment and demand prior to suit upon, 404-406. redemption of, cannot be colorably delayed, 405, 406. necessity for giving bonds in such cases, 410, 413. custom of severing, 414. in suit on, plaintiff cannot recover incidental damages, 416. payable to person named, 417. holders of, entitled to no preference in case of insolvency, 418. liability of bank officials to holders of, 419. fraudulently issued, 419. pledged, 420. statutory restrictions on issuing or circulating foreign, 420, et seq. warranties concerning, 421, 422. not issuable on basis of special deposits, 422. to be kept “at par,” 422. issue of, by banks of States, 422, et seq. See SHAREHOLDERS (for shareholder's liability to redeem circulation). inherent and implied powers of, 4, et seq. continuance of old, 23, et seq. reorganization of State, under National Banking Act, 488, et seq. (See CUSTOMER AND DEPOSITOR.) BANKING BUSINESS, statutes in restraint of, 1-3. BANKING HOURS, recognized by courts, 370, 257. redemption of bills after, 408. BILL-HOLDER. (See BANK BILLS OR NOTES.) BOOKS OF THE BANK, admissible in evidence on behalf of bank, 52, 480. handwriting in, must be proved, 481. depositor's right to examine, 46. BORROWING, power of, 4. in cashier, 148-150. legitimate purposes of, 148-150. ratification of cashier's unauthorized, 150. BRANCH BANKS, can be established only by legislative permission, 4. BY-LAWS, do not constitute usage, 377. invalid if in derogation of rights of third parties, 381. CASHIER, nature of office and functions, 137 et seq. inherent force of the title, 139. power of directors concerning functions of, 140. certain inherent duties, 142. liability for default of subordinates, 142, 144, 182, 183. relation of, to subordinates, 143, 183. duty to collect debts, and powers and duties incidental thereto, 144 signature of checks by, 158 et seq., 161, 162. form of countersigning by, 163. contracts, &c., executed to, personally, 163 et seq. duties of, dealing in bills of exchange, 164. has charge of correspondence, 165. may make transfers of shares, 166. accept or refuse a deposit-account, 166. exercise of discretion by, in extraordinary cases, 166 et seq., 169. |