PRIA, Government Policy, Made Personal

Summary

People forming a national association must sign an organization certificate. The certificate must list the association's name (including the word "national"), where it will do discount and deposit business (State/Territory/District and the county and city/town/village), the total capital and number of shares, each shareholder's name, residence, and share count, and state that it is made to use the advantages of title 62 of the Revised Statutes.

Title 12, §22

Banks and Banking, Source: USLM XML via OLRC

The persons uniting to form such an association shall, under their hands, make an organization certificate, which shall specifically state: First. The name assumed by such association; which name shall include the word “national”. Second. The place where its operations of discount and deposit are to be carried on, designating the State, Territory, or District, and the particular county and city, town, or village. Third. The amount of capital stock and the number of shares into which the same is to be divided. Fourth. The names and places of residence of the shareholders and the number of shares held by each of them. Fifth. The fact that the certificate is made to enable such persons to avail themselves of the advantages of title 62 of the Revised Statutes.

Notes & Related Subsidiaries

Editorial Notes

References in Text

Title 62 of the Revised Statutes, referred to in par. Fifth, was in the original “this Title” meaning title LXII of the Revised Statutes, consisting of R.S. §§ 5133 to 5244, which are classified to this section and section 16, 21, 23 to 24a, 25a, 25b, 26, 27, 29, 35 to 37, 39, 43, 52, 53, 55 to 57, 59 to 62, 66, 71, 72 to 76, 81, 83 to 86, 90, 91, 93, 93a, 94, 141 to 144, 161, 164, 181, 182, 192 to 194, 196, 215c, 481 to 485, 501, 541, 548, and 582 of this title. See, also, section 8, 333, 334, 475, 656, 709, 1004, and 1005 of Title 18, Crimes and Criminal Procedure. For complete classification of R.S. §§ 5133 to 5244 to the Code, see Tables. Codification R.S. § 5134 derived from act June 3, 1864, ch. 106, § 6, 13 Stat. 101, which was the National Bank Act. See section 38 of this title.

Amendments

1982—Par. First. Pub. L. 97–320 struck out “and be subject to the approval of the Comptroller of the Currency” after “national”. 1959—Par. First. Pub. L. 86–230 substituted “which named shall include the word ‘national’ and be” for “which name shall be”.

§22 Organization Certificate