Volume 46 · 74
Public Law 71–58
Authorizing receivers of national banking associations to compromise shareholders’ liability.
Approved February 25, 1930
Statutory text
An Act
Authorizing receivers of national banking associations to compromise shareholders’ liability.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
That any receiver of a national banking association is authorized, with the approval of the Comptroller of the Currency and upon the order of a court of record of competent jurisdiction, to compromise, either before or after judgment, the individual liability of any shareholder of such association.
Approved, February 25, 1930.