§ 67. Individual liability of shareholders; compromises; authority of receiver

Statutory text

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.

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1930
Pub. L. 71–58 · 46 Stat. 74
Enacted · 12 U.S.C. § 67
(Feb. 25, 1930, ch. 58, 46 Stat. 74.)
Source evidence
Code source credit
(Feb. 25, 1930, ch. 58, 46 Stat. 74.)

0 of 1 references resolved to an enrolled provision · 1 partial

Statutory Notes and Related Subsidiaries

Application to District of Columbia

Provisions of this section were made applicable to banks, etc., in the District of Columbia by act Mar. 4, 1933, ch. 274, § 4, 47 Stat. 1567.

Executive Documents

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 to Secretary of the Treasury, see note set out under section 1 of this title.

Credits

(Feb. 25, 1930, ch. 58, 46 Stat. 74.)