Chapter 121.
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CHAP. 121.— AN ACT To amend section fifty-two hundred and thirty-four of the Revised Statutes of the United States so as to permit the Comptroller of the Currency to deposit upon interest the assets of insolvent national banks in other national banks of the same or of an adjacent city or town. May 15, 1916.[[H. R. 3575](/us/bill/64/hr/3575).][[Public, No. 76](/us/pl/64/76).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,* That section fifty-two hundred National banks.
R. S., sec. 1012, p. 189, amended. and thirty-four of the Revised Statutes of the United States be amended by adding at the end thereof the following: 122 Assets of insolvent banks. Depositing in banks allowed. "*“Provided,* That the comptroller may, if he deems proper, deposit any of the money so made in any regular Government depositary, or in any State or national bank either of the city or town in which the insolvent bank was located, or of a city or town as adjacent thereto Bond required.as practicable; if such deposit is made he shall require the depositary to deposit United States bonds or other satisfactory securities with the Treasurer of the United States for the safe-keeping and prompt Interest to be paid.payment of the money so deposited.
Such depositary shall pay upon such money interest at such rate as the comptroller may prescribe, not less, however, than two per centum per annum upon the average monthly amount of such deposits.”" Approved, May 15, 1916.