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Session Laws, 1935
Volume 579, Page 1071   View pdf image (33K)
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HARRY W. NICE, GOVERNOR. 1071

porary Federal Deposit Insurance Fund and/or to become
a member of the Federal Deposit Insurance Corporation,
and/or to make all required payments into said Insurance
Fund and/or to pay to such Corporation any proper assess-
ment made by it upon its members or insured banks from
time to time, and from time to time to subscribe and pay for
stock of the Federal Reserve Bank, and to comply with the
provisions, which may be applicable to such banking institu-
tion of the Federal Reserve Bank, and to comply with the pro-
visions, which may be applicable to such banking institu-
tions, contained in the "Banking Act of 1933" (Section
12-B of the Federal Reserve Act) passed by the Congress
of the United States and approved June 16th, 1933, and
any amendment or amendments thereto, and every such
banking institution is likewise authorized and permitted if
such action is approved by a vote of a majority of its Board
of Directors, to withdraw from the Temporary Federal
Deposit Insurance Fund and/or the Federal Deposit Insur-
ance Corporation and/or to terminate its status as an in-
sured bank and/or to withdraw from the Federal Reserve
System, and to sell and dispose of any stock that it may
own in any Federal Reserve Bank and in said Federal De-
posit Insurance Corporation in accordance with the provi-
sions of said "Banking Act of 1933" (Section 12-B of the
Federal Reserve Act) or any amendment or amendments
thereto, and generally, every such banking institution is
authorized and empowered to from time to time accept the
benefits conferred by said "Banking Act of 1933" (Section
12-B of the Federal Reserve Act) or any amendment or
amendments thereto, and to perform the corresponding
obligations imposed by said Act or any amendment or
amendments thereto, which are applicable to such banking
institution, and from time to time to do, or cause to be
done, any and all acts, and to execute, acknowledge and
deliver, or cause to be executed, acknowledged and deliv-
ered, any and all instruments in writing necessary or
proper for such banking institution to obtain the benefits,
exercise the privileges, and to subject itself to the obliga-
tions of said "Banking Act of 1933" (Section 12-B of the
Federal Reserve Act) or any amendment or amendments
thereto, including the admission from time to time of such
banking institution as a member of the Temporary Federal
Deposit Insurance Fund and/or as a member and stock-
holder of the Federal Deposit Insurance Corporation or as
an insured bank, and/or as a member of the Federal Re-
serve System, and as a stockholder of any Federal Reserve
Bank, and the withdrawal of such banking institution as a

 

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Session Laws, 1935
Volume 579, Page 1071   View pdf image (33K)
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