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Banking Progress

Banking Progress


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About the Book

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1920. Excerpt: ... APPENDIX n PLAN OF THE NATIONAL MONETARY COMMISSION A BELL To Incorporate The National Reserve Association Op The United States, And For Other Purposes Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the National Reserve Association of the United States be, and it is hereby, created and established for a term of fifty years from the date of filing with the Comptroller of the Currency a certificate of paid-in capital stock as hereinafter provided. It shall have an authorized capital equal in amount to twenty per centum of the paid-in and unimpaired capital of all banks eligible for membership in said National Reserve Association. Before said association shall be authorized to commence business two hundred million dollars of the capital stock shall be subscribed and one hundred million dollars of its capital shall be paid in cash. The capital stock of said association shall be divided into shares of one hundred dollars each. The outstanding capital stock may be increased from time to time as subscribing banks increase their capital or as additional banks become subscribers or may be decreased as subscribing banks reduce their capital or leave the association by liquidation. The head office of the National Reserve Association shall be located in Washington, in the District of Columbia. Sec. 2. Upon duly making and filing with the Comptroller of the Currency the certificate hereinafter required the National Reserve Association of the United States shall become a body corporate and as such and by that name shall have power--First. To adopt and use a corporate seal. Second. To have succession for a period of fifty years from the date of said certificate. Third. To make all contracts necessary...


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Product Details
  • ISBN-13: 9780217179591
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 106
  • Spine Width: 6 mm
  • Width: 189 mm
  • ISBN-10: 0217179592
  • Publisher Date: 30 Jan 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 204 gr

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