ave 
vate 
o of 
any 
this 
ng a 
{and 
{eral 
h do 
That 
ank- 
ther 
kk or 
ited 
ne is 
‘ther, 
a di- 
1 the 
r, or 
And 
iibit 
em- 
ons, 
em- 
om- 
ank, 
nore 
rrust 
the 
is in 
erve 
d to 
tible 
rmit 
.pOT- 
1 1s 
r be 
een 
anlk 
r or 
her 
APPENDIX 
corporation subject to the provisions of this Act is 
2ligible at the time of his election or selection to act for 
such bank or other corporation in such capacity his 
ligibility to act in such capacity shall not be affected 
ind he shall not become or be deemed amenable to any 
)f the provisions hereof by reason of any change in the 
affairs of such bank or other corporation from whatso- 
ver cause, whether specifically excepted by any of the 
Provisions hereof or not, until the expiration of one 
year from the date of his election or emplovment. 
DEPOSIT OF POSTAL SAVINGS FUNDS IN MEMBER OR 
NONMEMBER BANKS 
Section 2 of the Postal Savings Act, approved June 25, 1910, as 
amended bv the act approved May 18, 1916 
Sec. 2. That postal savings funds received under the 
Provisions of this Act shall be deposited in solvent banks, 
whether organized under National or State laws, and 
Whether member banks or not of the Federal Reserve 
System established by the Act approved December 
iwenty-third, nineteen hundred and thirteen, being sub- 
lect to National or State supervision and examination 
* * * The funds received at the postal savings 
depository offices in each city, town, village, and other 
locality shall be deposited in banks located therein 
substantially in proportion to the capital and surplus of 
ach such bank) willing to receive such deposits under 
the terms of this Act and the regulations made by 
authority thereof: Provided, however, If one or more 
member banks of the Federal Reserve System established 
by the Act approved December twenty-third, nineteen 
hundred and thirteen, exists in the city, town, village, or 
locality where the postal savings deposits are made, such 
leposits shall be placed in such qualified member banks 
substantially in proportion to the capital and surplus of 
each such bank, but if such member banks fail to qualify 
t0 receive such deposits, then any other bank located 
therein may, as hereinbefore provided, qualify and 
receive the same. If no such member bank and no other 
qualified bank exists in any city, town, village, or locality, 
or if none where such deposits are made will receive such 
deposits on the terms prescribed, then such funds shall be 
deposited under the terms of this Act in the bank most 
convenient, to such locality, * * * 
71