National Banks of the United States Their Organization Management And Supervis
National Banks of the United States Their Organization Management And Supervis
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The Comptroller will then cause a reappraisal to be made. This reappraisal will be final and binding. If the reappraisal exceeds the value fixed by the com- mittee, the expense of the reappraisal must be paid by the bank, otherwise the shareholder appealing to the Comptroller must pay the ex- 117 Sale of Shares pense. The value ascertained and determined in the manner set forth must be paid to the shareholder by the bank. The shares thus sur- rendered must be sold at public sale after due notic...e within thirty days after the final appraisal.
118 Re-extension of Corporate Existence THE existence of a national bank may, if desired, be re-extended for a further period of twenty years from the date of expiration of the original extension of charter. If it is desired to do this, an amendment of the Articles of Association should be executed and certified to the Comptroller.
The amendment of Articles of Association and the certificate to the Comptroller are simi- lar to Form XXXIX, with the exception that following the words, "approved July 12, 1882, " should appear the phrase, "and the amendment approved April 12, 1902.
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To quickly assess the difficulty of the text, read a short excerpt:
The Comptroller will then cause a reappraisal to be made. This reappraisal will be final and binding. If the reappraisal exceeds the value fixed by the com- mittee, the expense of the reappraisal must be paid by the bank, otherwise the shareholder appealing to the Comptroller must pay the ex- 117 Sale of Shares pense. The value ascertained and determined in the manner set forth must be paid to the shareholder by the bank. The shares thus sur- rendered must be sold at public sale after due notic...e within thirty days after the final appraisal.
118 Re-extension of Corporate Existence THE existence of a national bank may, if desired, be re-extended for a further period of twenty years from the date of expiration of the original extension of charter. If it is desired to do this, an amendment of the Articles of Association should be executed and certified to the Comptroller.
The amendment of Articles of Association and the certificate to the Comptroller are simi- lar to Form XXXIX, with the exception that following the words, "approved July 12, 1882, " should appear the phrase, "and the amendment approved April 12, 1902.
What to read after National Banks of the United States Their Organization Management And Supervis?
You can find similar books in the "Read Also" column, or choose other free books by First National City Bank of New York to read onlineMoreLess
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