12 USC Ch. 2: Front Matter
From Title 12-BANKS AND BANKINGCHAPTER 2-NATIONAL BANKS
CHAPTER 2-NATIONAL BANKS
SUBCHAPTER I-ORGANIZATION AND GENERAL PROVISIONS
Sec.
21.
Formation of national banking associations; incorporators; articles of association.
21a.
Amendment of articles of association.
22.
Organization certificate.
23.
Acknowledgment and filing of certificate.
24.
Corporate powers of associations.
24a.
Financial subsidiaries of national banks.
(a)
Authorization to conduct in subsidiaries certain activities that are financial in nature.
(b)
Activities that are financial in nature.
(c)
Capital deduction.
(d)
Safeguards for the bank.
(e)
Provisions applicable to national banks that fail to continue to meet certain requirements.
(f)
Failure to maintain public rating or meet applicable criteria.
(g)
Definitions.
25.
Omitted.
25a.
Participation by national banks in lotteries and related activities.
(a)
Prohibited activities.
(b)
Use of banking premises prohibited.
(c)
Definitions.
(d)
Lawful banking services connected with operation of lotteries.
(e)
Regulations; enforcement.
26.
Comptroller to determine if association can commence business.
27.
Certificate of authority to commence banking.
28.
Repealed.
29.
Power to hold real property.
30.
Change of name or location.
(a)
Name change.
(b)
Location change.
(c)
Coordination with section 36 of this title.
(d)
Retention of "Federal" in name of converted Federal savings association.
31.
Rights and liabilities as affected by change of name.
32.
Liabilities and suits as affected by change of name or location.
33 to 34c.
Transferred.
35.
Organization of State banks as national banking associations.
36.
Branch banks.
(a)
Lawful and continuous operation.
(b)
Converted State banks.
(c)
New branches.
(d)
Branches resulting from interstate merger transactions.
(e)
Exclusive authority for additional branches.
(f)
Law applicable to interstate branching operations.
(g)
State "opt-in" election to permit interstate branching through de novo branches.
(h)
Repealed.
(i)
Prior approval of branch locations.
(j)
"Branch" defined.
(k)
Branches in foreign countries, dependencies, or insular possessions.
(l)
"State bank" and "bank" defined.
37.
Associations governed by chapter.
38.
The National Bank Act.
39.
Reservation of rights of associations organized under Act of 1863.
40.
Virgin Islands; extension of National Bank Act.
41.
Guam; extension of National Bank Act.
42.
Territorial application.
43.
Interpretations concerning preemption of certain State laws.
(a)
Notice and opportunity for comment required.
(b)
Publication required.
(c)
Exceptions.
SUBCHAPTER II-CAPITAL, STOCK, AND STOCKHOLDERS
51.
Requisite of capital and surplus.
51a.
Preferred stock; issuance authorized.
51b.
Dividends, voting, and retirement of preferred stock; individual liability.
51b–1.
Consideration of preferred stock in determining impairment of capital; dividends; retirement.
51c.
"Common stock", "capital", and "capital stock" defined.
51d to 51f. Repealed.
52.
Par value and incidents of stock; transfer of shares.
53.
When capital stock paid in.
54.
Repealed.
55.
Enforcing payment of deficiency in capital stock; assessments; liquidation; receivership.
56.
Prohibition on withdrawal of capital; unearned dividends.
57.
Increase of capital by provision in articles of association.
58.
Repealed.
59.
Reduction of capital by vote of shareholders.
60.
Dividends.
(a)
Periodic declaration; surplus fund.
(b)
Approval of Comptroller.
61.
Shareholders' voting rights; cumulative and distributive voting; preferred stock; trust shares; proxies, liability restrictions; percentage requirement exclusion of trust shares.
62.
List of shareholders.
63, 64.
Repealed.
64a.
Individual liability of shareholders; limitation on liability.
65.
Repealed.
66.
Personal liability of representatives of stockholders.
67.
Individual liability of shareholders; compromises; authority of receiver.
SUBCHAPTER III-DIRECTORS
71.
Election.
71a.
Number of directors; penalties.
72.
Qualifications.
73.
Oath.
74.
Vacancies.
75.
Legal holiday, annual meeting on; proceedings where no election held on proper day.
76.
President of bank as member of board; chairman of board.
77, 78.
Repealed.
SUBCHAPTER IV-REGULATION OF THE BANKING BUSINESS; POWERS AND DUTIES OF NATIONAL BANKS
81.
Place of business.
82.
Repealed.
83.
Loans on or purchase by bank of own stock.
84.
Lending limits.
(a)
Total loans and extensions of credit.
(b)
Definitions.
(c)
Exceptions.
(d)
Authority of Comptroller of the Currency.
85.
Rate of interest on loans, discounts and purchases.
86.
Usurious interest; penalty for taking; limitations.
86a to 89.
Omitted or Repealed.
90.
Depositaries of public moneys and financial agents of Government.
91.
Transfers by bank and other acts in contemplation of insolvency.
92.
Acting as insurance agent or broker.
92a.
Trust powers.
(a)
Authority of Comptroller of the Currency.
(b)
Grant and exercise of powers deemed not in contravention of State or local law.
(c)
Segregation of fiduciary and general assets; separate books and records; access of State banking authorities to reports of examinations, books, records, and assets.
(d)
Prohibited operations; separate investment account; collateral for certain funds used in conduct of business.
(e)
Lien and claim upon bank failure.
(f)
Deposits of securities for protection of private or court trusts; execution of and exemption from bond.
(g)
Officials' oath or affidavit.
(h)
Loans of trust funds to officers and employees prohibited; penalties.
(i)
Considerations determinative of grant or denial of applications; minimum capital and surplus for issuance of permit.
(j)
Surrender of authorization; board resolution; Comptroller certification; activities affected; regulations.
(k)
Revocation; procedures applicable.
93.
Violation of provisions of chapter.
(a)
Forfeiture of franchise; personal liability of directors.
(b)
Civil money penalty.
(c)
Notice under this section after separation from service.
(d)
Forfeiture of franchise for money laundering or cash transaction reporting offenses.
(d)
Authority.
93a.
Authority to prescribe rules and regulations.
94.
Venue of suits.
94a.
Repealed.
95.
Emergency limitations and restrictions on business of members of Federal reserve system; designation of legal holiday for national banking associations; exceptions; "State" defined.
95a.
Regulation of transactions in foreign exchange of gold and silver; property transfers; vested interests, enforcement and penalties.
95b.
Ratification of acts of President and Secretary of the Treasury under section 95a.
SUBCHAPTER V-OBTAINING AND ISSUING CIRCULATING NOTES
101 to 110. Repealed.
SUBCHAPTER VI-REDEMPTION AND REPLACEMENT OF CIRCULATING NOTES
121.
Repealed.
121a.
Redemption of notes unidentifiable as to bank of issue.
122 to 127. Repealed.
SUBCHAPTER VII-PROCEEDINGS ON FAILURE OF BANK TO REDEEM CIRCULATING NOTES
131 to 138. Repealed.
SUBCHAPTER VIII-RESERVE CITIES; LAWFUL RESERVES
141.
Central reserve and reserve cities; designation.
142.
Banks in reserve cities; reserves.
143.
Banks in Alaska and insular possessions; lawful money reserves.
144.
Certain balances counted toward reserves in dependencies and insular possessions.
145, 146.
Repealed.
SUBCHAPTER IX-FORMATION OF ASSOCIATIONS TO ISSUE GOLD NOTES
151 to 153. Repealed.
SUBCHAPTER X-BANK EXAMINATIONS; REPORTS
161.
Reports to Comptroller of the Currency.
(a)
Reports of condition; form; contents; date of making; publication.
(b)
Payment of dividends.
(c)
Reports of affiliates; form; contents; date of making; publication; penalties.
162, 163.
Repealed.
164.
Penalty for failure to make reports.
(a)
First tier.
(b)
Second tier.
(c)
Third tier.
(d)
Assessment; etc.
(e)
Hearing.
165.
Omitted.
SUBCHAPTER XI-MISCELLANEOUS PROVISIONS REGARDING UNITED STATES BONDS IN RELATION TO NATIONAL BANKS
168 to 177. Repealed.
177a.
Funds available for cost of transporting and redeeming national and Federal Reserve bank notes.
178.
Repealed.
SUBCHAPTER XII-VOLUNTARY DISSOLUTION
181.
Voluntary dissolution; appointment and removal of liquidating agent or committee; examination.
182.
Notice of intent to dissolve.
183 to 186. Repealed.
SUBCHAPTER XIII-RECEIVERSHIP
191.
Appointment of Federal Deposit Insurance Corporation as receiver.
192.
Default in payment of circulating notes.
193.
Notice to present claims.
194.
Dividends on adjusted claims; distribution of assets.
195.
Repealed.
196.
Expenses.
197.
Shareholders' meeting; continuance of receivership; appointment of agent; winding up business; distribution of assets.
197a.
Resumption of business by closed bank on consent of depositors.
198.
Purchase by receiver of property of bank; request to Comptroller.
199.
Approval of request.
200.
Payment.
SUBCHAPTER XIV-BANK CONSERVATION ACT
201.
Short title.
202.
Definitions.
203.
Appointment of conservator.
(a)
Appointment.
(b)
Judicial review.
(c)
Additional grounds for appointment.
(d)
Exclusive authority.
(e)
Replacement of conservator.
204.
Examinations.
205.
Termination of conservatorship.
(a)
General rule.
(b)
Other grounds for termination.
(c)
Enforcement under Federal Deposit Insurance Act.
(d)
Action upon termination.
206.
Conservator; powers and duties.
(a)
General powers.
(b)
Subject to rules of Comptroller.
(c)
Payment of depositors and creditors.
(d)
Compensation of conservator and employees.
(e)
Expenses.
207, 208.
Repealed.
209.
Liability protection.
(a)
Federal agency and employees.
(b)
Other conservators.
(c)
Indemnification.
210.
Governmental powers unimpaired.
211.
Rules and regulations.
(a)
In general.
(b)
F.D.I.C. as conservator.
212.
Right to amend; separability.
213.
Transferred.
SUBCHAPTER XV-CONVERSION OF NATIONAL BANKS INTO STATE BANKS
214.
Definitions.
214a.
Procedure for conversion, merger, or consolidation; vote of stockholders.
(a)
Approval of board of directors; publication of notice of stockholders' meeting; waiver of publication; notice by registered or certified mail.
(b)
Rights of dissenting stockholders.
214b.
Continuation of business and corporate entity.
214c.
Conversions in contravention of State law.
SUBCHAPTER XVI-CONSOLIDATION AND MERGER
215.
Consolidation of banks within same State.
(a)
In general.
(b)
Liability of consolidated association; capital stock; dissenting shareholders.
(c)
Valuation of shares.
(d)
Appraisal by Comptroller; expenses of consolidated association; sale and resale of shares; State appraisal and consolidation law.
(e)
Status of consolidated association; property rights and interests vested and held as fiduciary.
(f)
Removal as fiduciary; discrimination.
(g)
Issuance of stock by consolidated association; preemptive rights.
215a.
Merger of national banks or State banks into national banks.
(a)
Approval of Comptroller, board and shareholders; merger agreement; notice; capital stock; liability of receiving association.
(b)
Dissenting shareholders.
(c)
Valuation of shares.
(d)
Application to shareholders of merging associations: appraisal by Comptroller; expenses of receiving association; sale and resale of shares; State appraisal and merger law.
(e)
Status of receiving association; property rights and interests vested and held as fiduciary.
(f)
Removal as fiduciary; discrimination.
(g)
Issuance of stock by receiving association; preemptive rights.
215a–1.
Interstate consolidations and mergers.
(a)
In general.
(b)
Scope of application.
(c)
Definitions.
215b.
Definitions.
215c.
Mergers, consolidations, and other acquisitions authorized.
(a)
In general.
(b)
Expedited approval of acquisitions.
(c)
Rule of construction.
(d)
"Acquire" defined.
SUBCHAPTER XVII-DISPOSITION OF UNCLAIMED PROPERTY RECOVERED FROM CLOSED NATIONAL BANKS
216.
Purpose.
216a.
Definitions.
216b.
Disposition of unclaimed property.
(a)
Limitations for filing claims; publication of notice in Federal Register; contents of notice; disclosure of descriptive information; inspection of specific property.
(b)
Delivery of property to claimant upon proof of entitlement; determination of validity of claims; recoupment of expenses; liability for losses; insurance requirements.
(c)
Vesting of rights, title and interest in unclaimed property in United States; sale, use, destruction or disposition of property; proceeds of sale as miscellaneous receipts.
(d)
Liability for determination of validity of claims; liability for delivery, sale, etc., of property.
(e)
Court action for determination of ownership, etc., in State or Federal court of competent jurisdiction; de novo nature of action; parties.
(f)
Jurisdiction of United States Claims Court of actions against United States, Comptroller, officer, etc.; scope of review of actions of Comptroller; limitations; claims against Comptroller, officer, etc., as claim against United States.
216c.
Rules and regulations.
216d.
Severability.
National Bank Act Referred to in Other Sections
Sections 21 et seq. of this title are referred to in sections 35, 40, 41, 215c, 501a, 1440, 1467a, 1817, 2254, 3102 of this title; title 18 section 334; title 28 section 1348.