National banking under the Federal Reserve System

Bibliographic data

Monograph

Identifikator:: 1004921209

URN:: urn:nbn:de:zbw-retromon-18251

Document type:: Monograph

Author:: Schander, Carl Friedrich Albert http://d-nb.info/gnd/105516362X

Title:: Statistische Angaben über die hauptsächlich am Weltverkehr beteiligten Länder

Place of publication:: Kiel

Publisher:: Druck von Schmidt & Klaunig

Year of publication:: 1913

Scope:: 1 Online-Ressource (73 Seiten)

Digitisation:: 2017

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: II. Die Erwerbstätigen unter der Bevölkerung in Großbritannien, Vereinigten Staaten, Deutschland und Frankreich

Collection:: Economics Books

CONSOLIDATION fens are three distinct circumstances in which consolidations are effected between national banks: 1—When neither bank is placed in liquidation. 2—When one bank is placed in liquidation. (a) Without an increase of capital. (b) With an increase of capital. 3—When both banks are placed in liquidation. 1. Neither bank liquidating—Until the passage of an amendment to the National Bank Act on November 7, 1918, it had always been necessary for at least one of two consolidating banks to liquidate. The law as it now stands, however, permits consolidation of banks without liquidation of either, where such a course is desired. The two banks that are to merge must, however, be located in the same “county, city, town, or village.” After it has been informally agreed that two or more banks are to consolidate, an application to pursue such a course is sent to the Comptroller, who, if he approves, will return notice of his approval, together with instructions as to course of procedure and the forms that must be executed. The directors of the two associations then enter into an agreement covering the terms of consolidation, which must be approved by the owners of at least two-thirds the capital stock of each institution. Before a meeting of the shareholders to consider the consolidation agreement may be held, it must have been advertised for four con- secutive weeks in a newspaper published in the place where the banks are located, and notices of the meeting must have been sent to each shareholder, by registered mail, at least 10 days before the meeting. A certified copy of the resolution of the shareholders approving the consolidation (this certified copy containing a complete recital of the consolidation agreement) must be sent to the Comptroller, who will issue a formal certificate approving the consolidation. Where an increase in capital is provided in the consolidation agree- ment, or where there is in the agreement a provision requiring the paying in of cash in addition to the transfer of assets, to equalize [501

Access restriction

Copyright

fullscreen: National banking under the Federal Reserve System

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation