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FEDERAL RESERVE ACT BEC. 9 
existing laws may, by the vote of the shareholders owning 
not less than fifty-one per centum of the capital stock of 
such bank or banking association, with the approval 
of the Comptroller of the Currency be converted into a 
national banking association, with any name approved 
by the Comptroller of the Currency: 
Provided, however, That said conversion shall not be in 
*ontravention of the State law. In such case the articles 
of association and organization certificate may be exe- 
cuted by a majority of the directors of the bank or bank- 
ing institution, and the certificate shall declare that 
she owners of fifty-one per centum of the capital stock 
have authorized the directors to make such certificate 
and to change or convert the bank or banking institution 
into a national association. A majority of the directors, 
after executing the articles of association and the organi- 
zation certificate, shall have power to execute all other 
papers and to do whatever may be required to make its 
organization perfect and complete as a national associa- 
sion. The shares of any such bank may continue to be 
for the same amount each as they were before the con- 
version, and the directors may continue to be directors 
of the association until others are elected or appointed in 
accordance with the provisions of the statutes of the 
United States. When the Comptroller has given to 
such bank or banking association a certificate that the 
provisions of this Act have been complied with, such 
bank or banking association, and all its stockholders, 
officers, and employees, shall have the same powers and 
privileges, and shall be subject to the same duties, 
liabilities, and regulations, in all respects, as shall have 
been prescribed by the Federal Reserve Act and by the 
national banking act for associations originally organized 
as national banking associations. 
STATE BANKS AS MEMBERS 
sis apvret ed i Sec. 9. Any bank magne) by Special Jaw of may 
Sat, 252, chap, State, or organized under t e riers 2 of any ate 
CAE Jui, or of the United States, desiring to ecome a men! r 
bees Stat, of the Federal Reserve System, may make applicatio 
Feb, 25, 1627 (44 to the Federal Reserve Board, under such rules and 
55 aay 7 1 regulations as it may prescribe, for the right to subscribe 
chap. 507); Apr. 80 the stock of the Federal reserve bank organized within 
7 1930 (6 Stat. the district in which the applying bank is located. Such