§64a Individual liability of shareholders; limitation on liability

Summary

Extra liability for shareholders under sections 63 and 64 does not apply to any shares issued after June 16, 1933. For any bank that is doing business on July 1, 1937, that extra liability ends on July 1, 1937, if the bank published a notice at least six months before that date in a newspaper of the city, town, or county where the bank is located, or in a newspaper of general circulation there if no local paper exists. If a bank did not give that notice in time, the extra liability can still end six months after the bank later publishes the notice in the same way. For any bank that had not published the notice before May 18, 1953, the Comptroller of the Currency must publish the notice, and the liability ends six months after that publication.