§ 197a. Resumption of business by closed bank on consent of depositors
203 words·~1 min read·
/usc/title-12/section-197aA research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In any case in which, in the opinion of the Comptroller of the Currency, it would be to the advantage of the depositors and unsecured creditors of any national banking association whose business has been closed, for such association to resume business upon the retention by the association, for a reasonable period to be prescribed by the Comptroller, of all or any part of its deposits, the Comptroller is authorized, in his discretion, to permit the association to resume business if depositors and unsecured creditors of the association representing at least 75 per centum of its total deposit and unsecured credit liabilities consent in writing to such retention of deposits.
Nothing in this section shall be construed to affect in any manner any powers of the Comptroller under the provisions of law in force on June 16, 1933, with respect to the reorganization of national banking associations.
(June 16, 1933, ch. 89, § 29, 48 Stat. 193.)
Connections1 cite this · traces to 1
Cited by 1 section
statute-compilations
Traces to 1 document
2 references not yet in our index
- June 16, 1933, ch. 89, § 29
- 48 Stat. 193
Citation graph
cites case law
§ 197a
Resumption of business by closed bank on consent of depositors
Stat. Comp.×1
ActJune 16, 1933, ch. 89, § 29
Stat.48 Stat. 193
Cites 3Cited by 1 across 1 source