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74T$ CONGRESS . SESS . I. CH. 614 . AUGUST 23, 1935 . Vol. 48, p. 189; U. S.
(b) Paragraph (2) of subsection (a) of such section 21 is amended C.,P° 399 . to read as follows Persons or organza- "(2) For any p erson , fir m, cor porat ion, associ ation , bus iness trust , tions engaging in ba nk- ing business .
or other similar organization to engage, to any extent whatever with others than his or its officers, agent s or employees, in the business of receiving deposits subject to check or to r epayment upon pre senta- tion of a pass book, certificate of deposit, or other evidence of debt, or upon request of the depositor, unless such person, firm, corporation, Authority required . association, business trust, or other similar organization (A) shall be incorporated under, and authorized to engage in such business by, the laws of the United States or of any State, Territory, or District, or (B) shall be permitted by any State, Territory, or District to engage in such business and shall be subjected by the law of such State, Territory, or District to examination and regulation, or (C) shall submit to periodic examination by the banking authority of the State, Territory, or District where such business is carried on and shall make and publish periodic reports of its condition, exhibiting in detail its resources and liabilities, such examination and reports to be made and published at the same times and in the same manner and under the same conditions as required by the law of such State, Territory, or District in the case of incorporated banking institu- tions engaged in such business in the same locality ." C Vol . 3588, p.189
u. S.
SEC . 304 . Section 22 of the Banking Act of 193 3, as amended, is amended by adding at the end thereof the following sentences Doubl e liability on 4.S national bank stock .
uch additional liability shall cease on Ju ly 1, 1937, with resp ect t o Termination of .
all shares issued by any association which shall be transacting the Proviso . Publication of noticeb usiness of bankin g on July 1, 1937 : Provided, That not less than not ice . six months prior to such date, such association shall have caused notice of such prospective termination of liability to be published in a newspaper published in the city, town, or county in which such association is located, and if no newspaper is published in such city, town, or county, then in a newspaper of general circulation therein . If the association fail to give suc h notice as and w hen above pro- vided, a termination of such additional liability may thereafter be accomplished as of the date six month 1 subsequent to publication, in R
s., sec. 5155, p.996; the manner above provided ." U.S.C .,p.354.
S EC . 3 0 5 . Paragraph (c) of section 5 155 of the Revise d Statutes, Vol. 48, p. 189. as amended (U. C ., Supp . VII, title 12, sec . 36), is amended (1) by inserting after the first sentence thereof the following new sen- tence : " In any State in which State banks are permitted by statute law to maintain branches within county or greater limits . if no bank is located and doing business in the place where the proposed agency is to be located, any national banking association situated in such State may, with the approval of the Comptroller of the Currency, establish and operate, without regard to the capital requirements of N ational bank ages" ey; establishment in this section, a seasonal agency in any resort community within the resort community
limits of the county in which the main office of such association is located, for the purpose of receiving and paying out deposits, issuing P rovis o
and cashing checks and drafts, and doing business incident thereto : . Revoc ation of per. Provided, Th at any pe rmit issue d under t his senten ce shall b e mit; when.
revoked upon the opening of a State or national bank in such com- R estri ction on es tab- lishing branch banks . munity . S ; and (2) by striking out the first word in the last sentence of such paragra ph (c) and inser ting in lieu ther eof the following : " Except as pro vided in the imme diately precedin g sentence, no ". Vol.48, p. 971. SEC . 306. Section 4 of the Act entitled "An Act to amend section 12B of the Federal Reserve Act so as to extend for one year the temporary plan for deposit insurance, and for other purposes ", approved June 16, 1934 (48 Stat . 969), is amended to read as follows ; 1 So in original.
