The Federal reserve act (approved December 23, 1913) as amended to March 4, 1931

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Monograph

Identifikator:: 1856431436

URN:: urn:nbn:de:zbw-retromon-262738

Document type:: Monograph

Title:: The Federal reserve act (approved December 23, 1913) as amended to March 4, 1931

Place of publication:: Washington

Publisher:: United States Government Printing Office

Year of publication:: 1931

Scope:: ii, 170 Seiten

Digitisation:: 2022

Collection:: Economics Books

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35 (8) a An der en- 3 of and the to vith he unt ora- ink. late sec ved such ats, nce ‘ter- 5 of 0S y of ight eral adi- stor gal ual hall rion 0T- Cor 111= ng me it | of rise rth of the | Sze. 25 (2) FEDERAL RESERVE ACT Currency of the United States: Provided, however, That the assets of the corporation subject to the laws of other Countries or jurisdictions shall be dealt with in accordance With the terms of such laws. Every corporation organized under the provisions of this section shall hold a meeting of its stockholders annually upon a date fixed in its by-laws, such meeting to be held at its home office in the United States. Every ch corporation shall keep at its home office books con- taining the names of all stockholders thereof, and the Names and addresses of the members of its board of directors, together with copies of all reports made by it to the Federal Reserve Board. Every such corporation shall Make reports to the Federal Reserve Board at such times and in such form as it may require; and shall be subject lo examination once a year and at such other times as May be deemed necessary by the Federal Reserve Board by examiners appointed by the Federal Reserve Board, the cost, of such examinations, including the compensa- don of the examiners, to be fixed by the Federal Reserve Board and to be paid by the corporation examined. The directors of any corporation organized under the Provisions of this section may, semiannually, declare a dividend of so much of the net profits of the corporation 88 they shall judge expedient; but each corporation shall, before the declaration of a dividend, carry one-tenth of its net profits of the preceding half year to its surplus fund until the same shall amount to 20 per centum of its "pital stock. Any corporation organized under the provisions of this Section shall be subject to tax by the State within which 'ts home office is located in the same manner and to the Same extent as other corporations organized under the laws of that State which are transacting a similar char- Acter of business. The shares of stock in such corporation shall also be subject to tax as the personal property of the owners or holders thereof in the same manner and to the same extent as the shares of stock in similar State “Orporations. Any corporation organized under the provisions of this ction may at any time within the two years next Previous to the date of the expiration of its corporate ®Xistence, by a vote of the shareholders owning two- thirds of its stock, apply to the Federal Reserve Board 41632°—31——>5 ky 234)

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