NATIONAL BANKING UNDER THE FEDERAL RESERVE SYSTEM 
An ordinary proxy, being intended for election only, does not 
empower the proxy to vote for increased capitalization, consolidation 
or liquidation unless specific power so to do is given. 
Liability—National bank stockholders are subjected to an extra 
liability (“for all contracts, debts and engagements” of the bank) 
equal to the amount of stock held. 
Who may subscribe to stock—Following are the specific circumstances 
applying to subscription to a national bank’s stock: 
(a) Guardian—May subscribe if he shows proper authority. 
(b) Trustee—May subscribe if he shows proper authority. 
(¢) Administrator—Has no authority to subscribe. 
(d) State, county, township or muncipality—Subscriptions should not be received 
in the name of either. 
(e) Order, lodge, association, ete—Evidence must be produced to show the organ- 
ization is authorized by its rules to buy stock, and that it is legally and 
financially responsible for an assessment on this stock were one necessary 
under the National Bank Act. 
Lists—Every national bank must at all times keep an up-to-date 
list of the names and residences of all shareholders, and a copy of 
this list, as of the first Monday of July of each year, verified by oath 
by the president or cashier, must be forwarded to the Comptroller. 
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