National Banks of the United States Their Organization Management And Supervi
National Banks of the United States Their Organization Management And Supervi
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(See table on page 3. ) The President or Cashier of the bank must then certify to the Comptroller the adoption of a Resolution to Reduce Capital Stock, as given in Form XLIX.
If the circulating notes of a bank proposing to reduce its capital are in excess of the sum de- termined upon as the new capital of the bank, this circulation must, by a deposit of lawful money with the Treasurer of the United States, be reduced to an amount not in excess of the proposed future capital. A bank retiring cir...cu- lation in connection with a reduction of its capi- tal stock is not subject to the provision limiting the retirement of circulation by the deposit of 125 New Stock Certificates la\v^ul money to $9, 000, 000 in any one month.
When the reduction is made, the shareholders should return their old certificates to the bank for cancellation. New certificates based on the reduced capital should then be issued. It is lawful to issue certificates for fractional shares but it is desirable to avoid this when possible.
What to read after National Banks of the United States Their Organization Management And Supervi?
You can find similar books in the "Read Also" column, or choose other free books by Ny First National City Bank New York to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
(See table on page 3. ) The President or Cashier of the bank must then certify to the Comptroller the adoption of a Resolution to Reduce Capital Stock, as given in Form XLIX.
If the circulating notes of a bank proposing to reduce its capital are in excess of the sum de- termined upon as the new capital of the bank, this circulation must, by a deposit of lawful money with the Treasurer of the United States, be reduced to an amount not in excess of the proposed future capital. A bank retiring cir...cu- lation in connection with a reduction of its capi- tal stock is not subject to the provision limiting the retirement of circulation by the deposit of 125 New Stock Certificates la\v^ul money to $9, 000, 000 in any one month.
When the reduction is made, the shareholders should return their old certificates to the bank for cancellation. New certificates based on the reduced capital should then be issued. It is lawful to issue certificates for fractional shares but it is desirable to avoid this when possible.
What to read after National Banks of the United States Their Organization Management And Supervi?
You can find similar books in the "Read Also" column, or choose other free books by Ny First National City Bank New York to read onlineMoreLess
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