77

APPENDIX

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UNITED STATES REVISED STATUTES —MISCELLANEOUS
SECTIONS

CORPORATE POWERS OF NATIONAL BANKS

Section 5136, Revised Statutes, as amended by the act of July 1,
1922, and by the act of February 25, 1927
Sec. 5136. Upon duly making and filing articles of association
 and an organization certificate, the association
shall become, as from the date of the execution of its
Organization certificate, a body corporate, and as such,
and in the name designated in the organization certifi-*ate,
 it shall have power—
First. To adopt and use a corporate seal.
Second. To have succession from the date of the ap-Proval
 of this Act, or from the date of its organization if
organized after such date of approval until such time as it
be dissolved by the act of its shareholders owning twothirds
 of its stock, or until its franchise becomes forfeited
by reason of violation of law, or until terminated by either
8 general or a special Act of Congress or until its affairs
be placed in the hands of a receiver and finally wound up
5y him.
Third. To make contracts.
Fourth. To sue and be sued, complain and defend, in
my court of law and equity, as fully as natural persons.
Fifth, To elect or appoint directors, and by its board
of directors to appoint a president, vice president, cashier,
and other officers, define their duties, require bonds of
thern and fix the penalty thereof, dismiss such officers or
any of them at pleasure, and appoint others to fill their
laces,
Sixth. To prescribe, by its board of directors, by-laws
10t inconsistent with law, regulating the manner in
which its stock shall be transferred, its directors elected
xr appointed, its officers appointed, its property trans-‘erred,
 its general business conducted, and the privileges
zranted to it by law exercised and enjoyed.
Seventh. To exercise by its board of directors, or duly
authorized officers or agents, subject to law, all such
incidental powers as shall be necessary to carry on the
business of banking; by discounting and negotiating
promissory notes, drafts, bills of exchange, and other
evidences of debt; by receiving deposits; by buying and
selling exchange, coin, and bullion; by loaning money on