14 CONSOLIDATION OF NATIONAL BANKING ASSOCIATIONS 
Sec. 11. That section 5202 of the Revised Statutes of the United States as 
amended be amended by adding at the end thereof a new paragraph to read as 
follows: 
“ Eighth, Liabilities incurred under the provisions of section 202 of Title II 
of the Federal farm loan act, approved July 17, 1916, as amended by the agri- 
cultural credits act of 1923.” 
Sec. 12. That section 5208 of the Revised Statutes of the United States as 
amended be amended by striking out the words ‘‘or who shall certify a check be- 
fore the amount thereof shall have been regularly entered to the credit of the 
drawer upon the books of the bank,” and in lieu thereof inserting the following: 
“or who shall certify a check before the amount thereof shall have been regularly 
deposited in the bank by the drawer thereof,” so that the section as amended 
shall read as follows: 
“Sec. 5208. It shall be unlawful for any officer, director, agent, or employee 
of any Federal reserve bank, or any member bank as defined in the act of Decem- 
ber 23, 1913, known as the Federal reserve act, to certify any check drawn upon 
such Federal reserve bank or member bank unless the person, firm, or corpora- 
tion drawing the check has on deposit with such Federal reserve bank or mem- 
ber bank, at the time such check is certified, an amount of money not less than 
the amount specified in such check. Any check so certified by a duly authorized 
officer, director, agent, or employee shall be a good and valid obligation against 
such Federal reserve bank or member bank; but the act of any officer, director, 
agent, or employee of any such Federal reserve bank or member bank in viola- 
tion of this section shall, in the discretion of the Federal Reserve Board, subject 
such Federal reserve bank to the penalties imposed by section 11, subsection 
(h) of the Federal reserve act, and shall subject such member bank, if a national 
bank, to the liabilities and proceedings on’ the part of the Comptroller of the 
Currency provided for in section 5234, Revised Statutes, and shall, in the dis- 
cretionof the Federal Reserve Board, subject any other member bank to the 
penalties imposed by section 9 of said Federal reserve act for the violation of 
any of the provisions of said act. Any officer, director, agent, or employee of 
any Federal reserve bank or member bank who shall willfully violate the pro- 
visions of this section, or who shall resort to any device, or receive any fictitious 
obligations, directly or collaterally, in order to evade the provisions thereof, or 
who shall certify a check before the amount thereof shall have been regularly 
deposited in the bank by the drawer thereof, shall be deemed guilty of a mis- 
demeanor and shall, on conviction thereof in any district court of the United 
States, be fined not more than $5,000, or shall be imprisoned for not more than 
five years, or both, in the discretion of the court.” 
Sec. 13. Section 5211 of the Revised Statutes of the United States as amended 
be amended to read as follows: 
“Sec. 5211. Every association shall make to the Comptroller of the Currency 
not less than three reports during each year, according to the form which may be 
prescribed by him, verified by the oath or affirmation of the president, or of the 
cashier, or of a vice president, or of an assistant cashier of the association desig- 
nated by its board of directors to verify such reports in the absence of the 
president and cashier, taken before a notary public properly authorized and 
commissioned by the State in which such notary resides and the association 
is located, or any other officer having an official seal, authorized in such State to 
administer oaths, and attested by the signature of at least three of the directors. 
Each such report shall exhibit, in detail and under appropriate heads, the resources 
and liabilities of the association at the close of business on any past day by him 
specified, and shall be transmitted to the comptroller within five days after the 
receipt of a request or requisition therefor from him; and the statement of re- 
sources and liabilities, together with acknowledgment and attestation in the 
same form in which it is made to the comptroller, shall be published in a news- 
paper published in the place where such association is established, or if there is no 
newspaper in the place, then in the one published nearest thereto in the same 
county, at the expense of the association; and such proof of publication shall be 
furnished as may be required by the comptroller. The comptroller shall also 
have power to call for special reports from any particular association whenever 
in his judgment the same are necessary in order to obtain a full and complete 
knowledge of its condition.” 
Sec. 14. That the fourth paragraph of section 13 of the Federal reserve act be 
amended to read as follows: 
“No Federal reserve bank shall discount for any member bank notes, drafts, or 
bills of exchange of any one borrower in an amount greater than may be bor-